Financial Aid

Your Rights and Responsibilities

Your Rights

• What financial assistance is available, including information on all federal, state, and institutional programs?
• What are the deadlines for submitting applications for each of the financial assistance programs available?
• What is the cost of attending, and what is the refund policy?
• What criteria is used to select financial assistance recipients?
• How is financial need determined?
• How are costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc., considered in the student budget?
• What resources (parental contribution, other financial assistance, your assets, etc.) are considered in calculation of my need?
• How much of my financial need, as determined by the institution, has been met?
• What are the various programs in my student assistance package?
• If I believe I have been treated unfairly, may I request reconsideration of the award made to me?
• What portion of the financial assistance I received must be repaid, and what portion of my assistance is grant assistance?
• If the assistance is a loan, what is the interest rate? What is the total amount that must be repaid? What are the payback procedures? What is the length of time to repay the loan and when is repayment to begin?
• How does the school determine whether I am making satisfactory progress, and what happens if I am not?

Your Responsibilities

• Read and understand all information in the Financial Aid web pages.
• Read and understand Satisfactory Academic Progress Requirements
• Review and understand all information about the school's programs before you enroll.
• Know the deadlines for reapplying for financial assistance, and meet them. You must reapply for assistance each year. Financial assistance is not automatically renewed.
• Return all additional documentation, verification, corrections, and/or new information requested by either the Financial Assistance Office or the agency to which you submitted your application within 30 days.
• Read and understand all forms you are asked to sign and keep copies of them.
• Accept responsibility for all agreements you sign, including repaying any student loans.
• Complete the Statement of Educational Purpose/Registration Compliance stating that all funds received will be used solely for educational or education-related purposes.
• Not engage in the unlawful manufacture, distribution, dispensation, possession or use of a controlled substance during the period covered by your financial assistance.
• Notify your lender of the date you cease to be enrolled at least half-time and of any name, address, enrollment status or graduation date changes.
• Perform in a satisfactory manner the work agreed upon in accepting a Federal Work Study award.
• Notify the Admissions & Records Office of any change in your name, address, or enrollment status.
• Know that correspondence courses are not financial assistance eligible for certificate programs with less than 24 credit hours.
• Know that the amount of aid will depend on the cost of attendance, your enrollment status (full, three-quarters, half, or less than half-time).
• Notify the Financial Assistance Office immediately of any other resources you receive during the year. These could include but are not limited to assistance from Veteran's Assistance; Scholarships issued by clubs, businesses, high schools, etc.
• Attend classes - failure to do so can result in termination of your financial assistance benefits and/or you may be required to repay all or a part of the financial assistance dollars you already received.
• Know that only courses and credits from fully completed academic terms will be considered when determining Satisfactory Academic Progress status or processing an appeal.
• Understand that you may not apply for an emergency loan the week your financial assistance will be processed.
• Keep a record of all assistance received above the cost of tuition, fees, and books for tax purposes.
• Know that it is the policy of the college that information may not be released over the phone due to the Family Educational Right to Privacy Act.
• Understand ICC's refund policy. If you drop out of school after a certain date, you won't get any money back; you may be required to repay all or a part of the financial assistance funds you have already received; and/or you may be required to pay tuition, fees, and book expenses out of your own pocket.
• Know that for financial assistance purposes, students enrolled in study-abroad programs will be considered enrolled at the home institution. ICC may not accept all academic credits from foreign colleges/universities; therefore, students are encouraged to check with the Records' Office before registering for classes.
• If you are convicted of possessing or selling drugs after you submit your FAFSA, you must notify your financial aid administrator. You will lose eligibility and be required to pay back all aid received after conviction.
• Home schooling graduates must be of compulsory age of your high school graduating class to be eligible to receive financial aid.

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