Student Responsibilities

It is the student's responsibility to:

1. Be aware of and comply with all financial aid application deadlines.
2. Provide correct information.  Each year a few students and their families are distressed to learn that their financial aid has been adjusted because the information on the FAFSA, and/or PO application was incorrect.  Please be aware that misrepresenting information on the financial aid application is a violation of law and is subject to fine, imprisonment, or both.
3. Read, understand, and accept the responsibility for all agreements that you sign.  Students should keep copies of all documents for record-keeping purposes.
4. Report all new or increased resources if they were not known by the FAO at the time you first accepted your offer of aid.  This includes additional earnings from employment.  If you fail to report all resources, you could jeopardize future eligibility for financial aid and be required to repay funds previously awarded.
5. Apply for financial aid on a yearly and timely basis.  Financial aid is available to all students who demonstrate need and meet our application deadlines.  Students who do file on time or fail to supply the FAO with requested documentation will seriously jeopardize their chances of reciving college aid.
6. Notify his/her Federal Stafford Loan lender when any of the following changes occur:
• name change
• change of address
• graduation
• withdraw from PO or drop below half-time
• transfer to another school
7. Keep records, as matter of good practice, and receipts of expenses incurred during the academic year.  If a student applies for additional funds, because of higher than standard cost, he/she must provide receipts and records.
8. Be aware of possible tax liability for Grants and Scholarships received that exceed tuition, fees, books and supplies.  Please consult your tax advisor or the IRS for further information.
9. Schedule an appointment with the FAO for an Exit Interview before graduating, transferring or withdrawing from Pacific Oaks.  Exit Interviews are required for all federal and college loans.  During your Exit Interview you will be given helpful information about your loan indebtedness, deferment options, monthly payments and debt management.