Financial Literacy

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Financial Literacy

Financial Aid Rights & Responsibilities

You have the right:
  • To know your financial aid award is based on calculated financial need. As defined by the U.S. Department of Education, financial need is the difference between Anoka-Ramsey's cost of attendance (COA) and your ability to contribute towards your education (EFC).
  • To know the cost of attending the college use this net price calculator
  • To know the deadlines for submitting applications
  • To know the university’s refund and repayment policy
  • To know the university’s satisfactory academic progress policy
  • To receive your financial aid award as long as you are eligible and meet your responsibilities.
  • To be informed of details of each aid program that you are offered.
  • To be informed of the terms of any loan program that you are offered.
  • To be informed of the terms of any work program that you are offered.
  • To accept, reject or seek adjustments to your financial aid award without prejudice.
  • To know how much financial aid you will receive each term and when financial aid payments will be disbursed.
  • To privacy of information regarding your financial aid files. Information from your file will not be released to anyone without your permission.
  • To seek financial aid counseling.
You have the responsibility:
  • To complete an application for financial assistance annually to demonstrate continued need.
  • To provide accurate and factual information on all financial aid forms. You must notify the Financial Aid Office of any change in information submitted including your withdrawal from school, your reduction in number of credits, your change in address, name or marital status and your change of financial information provided on application form.
  • To accept responsibility for all agreements that you sign.
  • To read and understand all financial aid forms and keep copies of them.
  • To repay all loans according to the terms outlined in your truth-in-lending and promissory note forms.
  • To use your financial aid award for educational purposes and to carefully manage the funds that you receive.
  • To refund a portion or all of your financial aid upon full withdrawal from school.
  • To maintain a satisfactory level of academic progress
  • To submit forms by the deadlines and to keep your financial aid appointments.
  • To work during the summer to supplement your financial aid awards and meet total educational costs.

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