Federal Disclosure Requirements
According to federal law, institutions of higher education must provide the following consumer information to students:
- Financial Assistance Information
- How the eligibility for student financial aid is determined
- How the institution distributes aid among students
- Rights and responsibilities of students receiving aid
- How and when financial aid will be disbursed
- The terms and conditions of any employment that is part of the financial aid package
- The terms of, the schedules for, and the necessity of loan repayment
- Required loan exit counseling
- The criteria for measuring satisfactory academic progress, and how a student who has failed to maintain satisfactory progress may reestablish eligibility for financial aid
- Information about the Institution
- The names of associations, agencies and/or governmental bodies that accredit, approve or license the school and its programs, and the procedures by which a student may receive a copy for review of the school’s accreditation, licensure, or approval
- Special facilities and services available to disabled students
- A statement of the requirements for the return of Federal Student Aid program funds when a student withdraws from school, information about any refund policy with which the school must comply, and the requirements for officially withdrawing from the school
- The availability of a General Equivalency Diploma (GED) program if the school admits students who do not have a high school diploma or equivalent
- Who to contact for information on student financial assistance and for general institutional issues
- That a student may be eligible for Federal Student Aid program funds for attending a study abroad program that is approved for credit by the home school
- The terms and conditions under which students receiving federal education loans may obtain deferments while serving (a) in the Peace Corps; (b) under the Domestic Volunteer Service Act; and (c) as a volunteer for a tax-exempt organization of demonstrated effectiveness to the field of community service
- Information regarding the availability of Federal Student Aid program funds for study abroad programs