Rights and Responsibilities For Students Receiving Financial Aid

When you accept financial assistance, you are acknowledging that you have read, understand, and agree to comply with the terms and responsibilities listed below and all applicable federal regulations:

• An award will be made in accordance with all current regulations and appropriations of the federal government and PSR. The Financial Aid Office reserves the right to adjust or withdraw an award in the event of changes in policy, appropriation, or unintended error.
• Your award is based on the projected enrollment status as indicated on your PSR Financial Aid Application. If you enroll in fewer units than projected or drop classes which bring you below the projected units, your award will be adjusted accordingly or withdrawn completely. Funding is not guaranteed for in­creased enrollment. Students on internship or CPE will have institutional aid and/or Work Study awards revoked, if offered.
• You must be enrolled at least half-time to remain eligible for institutional and federal financial aid. If you withdraw or cease to carry out the required half-time credit load, you must contact PSR Financial Aid and make arrangements to repay any aid for which you are no longer eligible.
• You must maintain Satisfactory Academic Progress (SAP) toward an eligible degree for continued eligibility.
• All financial aid (both federal and institutional) is limited to the minimum number of attempted academic credits required to complete your program, and will be applied to only those courses that meet program completion requirements.
• If you received aid for which you are no longer eligible, you must make arrangements to repay that aid.
• You must provide accurate information. In most instances, misreporting information on financial aid forms is a violation of federal law and may be a criminal offense, which could result in indictment under the US Criminal Code.
• Applications may be subject to US Department of Education verification procedures. If required, you must provide verification documents requested by PSR Financial Aid in a timely manner. An award is subject to adjustment or cancellation if aid eligibility changes as a result of the verification process.
• Total financial aid cannot exceed the Cost of Attendance and need-based aid cannot exceed the calculated financial need. Therefore,  if you receive additional outside aid, your financial aid award may result in adjustments to your award package.
• New recipients of federal loans must complete the loan agreement and online entrance counseling requirement before receiving any funds.
• If an award includes Federal Work Study, necessary employment forms must be completed prior to beginning work. Work-Study employment is contin­gent upon availability and is not guaranteed.
• In cases of withdrawal or leave of absence before the end of a semester, awards will be adjusted in accordance with the refund policy of PSR and federal funds will be returned to aid sources as required by federal law.
• Recipients of federal loans must complete mandatory exit counseling prior to separation from PSR either by graduation, less than half­-time enrollment, leave of absence, or withdrawal.
• With the exception of Federal Work-Study, financial aid awards will be credited to your student account.
• Summer enrollment, because it is optional in many cases, is not included in the Cost of Attendance. Students wishing to enroll in PSR for-credit courses during summer should contact the Financial Aid Office to better understand the effect Summer enrollment will have on their federal aid.   
• For those students who are residing or will reside in PSR on-campus housing, please note that Summer rent may not be be covered by federal aid, unless students are enrolled at least half-time during the Summer session. Students not enrolled at least half-time should plan on meeting their Summer expenses through their own means. Please note that federal regulations prevent federal aid disbursed in a subsequent term cannot be applied by PSR to cover a previous balance, including summer housin