Rights and Responsibilities
As a student, you are responsible for:
- Reviewing all information about HBU’s programs before you enroll
- Completing your financial aid application accurately, annually, and on time
- Providing all documentation requested by the Financial Aid Office
- Paying any fees, tuition, room and board or other expenses not paid by financial aid by the deadlines imposed by the HBU Cashier’s Office
You have the right to ask about:
- What financial assistance is available
- What the priority dates are for submitting applications
- What the cost of attendance is and what the policies are on students who drop courses or totally withdraw
- What criteria HBU uses to select financial aid recipients
- How HBU determines your financial aid
- What portion of the financial aid you receive must be repaid and what portion is grant aid
- You have a right to reject any particular type of financial aid or other assistance
If you are a borrower you have certain rights:
- Before you receive your first loan disbursement, your lender will send you information about your loan such as the amount of the loan, the interest rate, when you must start repaying the loan, the maximum repayment period and the minimum repayment amount, and explanation of default, and consolidation information
- When you leave school your lender will inform you of the amount of your total debt, what the interest is, the amount of interest charges on your loan, where to send your payments, and an explanation of consolidation or refinancing options
- You have a right to a grace period before your payments begin
- You must be given a summary of deferment and discharge provisions
If you are a borrower you have certain responsibilities:
- When you sign a promissory note, you are agreeing to repay the loan according to the terms of the note. You must repay the loan even if you do not complete your education.
- If you do not repay your loan on time according to the terms of your promissory note, you may go into default, which will affect your credit rating and your eligibility for future aid. Default will lead to federal offset of taxes and wages and litigation including attorney’s fees.
- You must make payments on your loan even if you do not receive a billing statement.
- If you apply for a deferment or forbearance, you must continue to make payments until you are notified that the request has been granted.
- You must receive entrance loan counseling before you are given your first loan disbursement, and you must receive exit loan counseling when you graduate, withdraw, or drop below half time.
- You must notify the lender of changes in your name, address, or school status.