Federal Family Education Loan Program |
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As a student borrower: I am responsible for informing UAM and my lender of any changes in name, telephone number, social security number or enrollment status. I understand that when I graduate, withdraw, or drop below half-time from UAM, I must complete an exit interview. I must repay the loan (plus accrued interest) even if I do not graduate, or if I become dissatisfied with the education I received. If I am a first time borrower, I must complete an entrance interview before my loan funds are disbursed. If I am a first time borrower and a first time student, the first disbursement of my loan will be delayed for thirty days from the first day of school. All loans must be delivered in two disbursements with the second disbursement arriving after one-half of the loan period has passed. Example: Loan Period Disbursement dates printed on the Notice of Guarantee are estimated dates only. If my chosen lender participates in electronic funds transfer, my loan proceeds will be credited to my UAM student account. There will be no check to endorse. è If a student is enrolled in courses that do not count toward his/her degree and/or if a student is repeating a course in which a passing grade was previously earned (unless repeating for ADDITIONAL credit allowable), they cannot be used to determine enrollment status for aid purposes. Return of Title IV - Students who receive Title IV aid and do not complete at least 60% of the semester for which they are enrolled may be required to return a portion of the Federal funds received. Title IV aid includes, but is not limited to, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (SEOG), Academic Competitiveness Grants (ACG), National Science & Mathematics Access to Retain Talent (SMART) Grants, Perkins Loans, and Stafford Loans. In most cases, the withdrawal date for students who officially withdraw will be the actual date of withdrawal as determined by the Registrar’s Office. Students who cease attending without officially withdrawing are considered “unofficial withdrawals.” The midpoint of the semester (or in some cases, the last date of attendance) will be used in determining the amount of aid to be returned for unofficial withdrawals. Withdrawing from the University, either officially or unofficially, may require that you return a substantial amount of the Title IV funds that you received. If you should have to withdraw at any point, contact the Financial Aid Office. PLEASE NOTE: Receipt of additional financial assistance such as scholarships, grants-in-aid, or vocational rehabilitation grants may change eligibility for awards that have already been processed. Federal Stafford Loans, Federal Supplemental Educational Opportunity Grants (SEOG), Academic Competitiveness Grants (ACG), National Science & Mathematics Access to Retain Talent (SMART) Grants, and/or Federal Perkins Loans may be decreased or canceled if the student receives additional assistance. IT IS YOUR RESPONSIBILITY TO KEEP THE FINANCIAL AID OFFICE INFORMED OF ALL ASSISTANCE YOU WILL BE RECEIVING. |
UNIVERSITY OF ARKANSAS AT MONTICELLO