A student has the right to know what financial aid programs
are available at COTC.
A student has the right to know the deadlines for submitting
applications for each of the financial aid programs available.
A student has the right to know how financial aid will be
distributed, how decisions on the distribution of aid are made,
and the basis for these decisions.
A student has the right to know how financial need was
determined. This includes how costs for tuition and fees,
books and supplies, housing, utilities, food, personal and
miscellaneous expenses, and transportation are considered in the
A student has the right to know what resources (such as
parental contribution, other financial aid, assets, etc.) were
considered in the calculation of the need.
A student has the right to request an explanation of the
various programs in the student aid package.
A student has the right to know the college’s refund policy
and how it affects the financial aid package.
A student has the right to know what portion of the financial
aid they receive must be repaid, and what portion is grant
aid. If the aid is a loan, he has the right to know what the
interest rate is, the total amount that must be repaid, the
payback procedures, length of time to repay the loan, and when
repayment is to begin.
A student has the right to know how the college determines
whether or not they are making Satisfactory Academic
Progress, and what happens if they are not.
A student must complete all applications/forms accurately and
submit them on time to the appropriate offices.
A student must provide correct information. In most
instances, misrepresenting information on financial aid forms is
a violation of the law and may be considered a criminal offense
which could result in indictment under the United States Criminal
A student must submit all additional documentation,
verification, corrections, and/or new information requested by
either the Office of Financial Aid or the agency to which they
submitted the application.
A student is responsible for reading and understanding all
forms that they are asked to sign and for keeping copies of them.
A student must accept responsibility for all agreements
A student must be aware of and comply with the deadline for
application or reapplication for aid.
A student must repay, according to the repayment provisions
of the loan fund, all loans accepted and used for educational
A student must perform the work that is agreed upon when
accepting a Federal Work Study job.
A student must be enrolled a minimum of six (6) credit hours
per semester to earn Federal Work Study. (Student employees are
encouraged to use direct deposit for their pay. If a student
employee chooses not to use direct deposit, their paycheck will
be mailed on payday.)
A student must comply with the standards of Satisfactory
Academic Progress for renewal of Financial Aid programs.
If convicted of possessing or selling drugs after the Free
Application for Federal Student Aid (FAFSA) is submitted and
while receiving Federal financial aid, the student must notify
the Office of Financial Aid immediately. In general, if you are
convicted of a drug-related felony or misdemeanor that took place
while you were receiving Federal student aid, you will become
ineligible to receive further aid for a specified period of time