Rights & Responsibilities
I. Student Rights
A. You have the right to know what financial aid programs are available.
B. You have the right to know the deadlines for submitting applications for each of the financial aid programs available.
C. You have the right to know how your financial need was determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc. are considered in your budget.
D. You have the right to know what resources such as parental contribution, other financial aid, your assets, etc. were considered in the calculation of your need.
E. You have the right to know how much of your financial need as determined by the institution has been met. (See your award letter.)
F. You have the right to request an explanation of the various programs in your student aid package.
G. You have the right to know the school’s refund policy. (See our Impact of Withdrawal page.)
H. You have the right to know what portion of the financial aid you receive must be repaid, and what portion is grant aid. If the aid is a loan, you have the right to know what the interest rate is, the total amount that must be repaid, the repayment procedures, the length of time you have to repay the loan, and when repayment is to begin. You have the right to cancel, reduce or repay loans awarded from either federal or school funds. (Notify your financial aid counselor)
II. Student Responsibilities
A. You must keep your address updated with the Financial Aid Office, the University, and Student Affairs. The student bears the full responsibility for any consequences resulting from University communications misdirected or not received because of an incorrect address.
B. You are responsible for reading and understanding all forms that you are asked to sign, including those signed electronically, and for keeping copies of them.
C. You must complete all application forms accurately and submit them on time to the appropriate office. You must be aware of, and comply with, the deadlines for application or reapplication for aid. Remember, no form of assistance is automatically renewed from year to year, but may be awarded upon reapplication by the priority deadline. Such reapplication must indicate continued financial need as defined by individual need-based programs in order to continue to receive need-based aid, as well as satisfactory academic progress.
D. You must provide correct information. In most instances, intentional misreporting of information on financial aid application forms is a violation of law and may be considered a criminal offense which could result in indictment under the U.S. Criminal Code. Misrepresentation of any information on financial aid application materials may result in the loss of past, current, and/or future financial aid funds.
E. You must return all additional documentation, entrance interview form, verification, corrections, and/or new information requested by either the Financial Aid Office or the agency to which you submitted your application.
F. If you receive scholarships or loans from any source for which applications are not processed by the Financial Aid Office, it is your responsibility to notify our office immediately. (This includes, but is not limited to, Military Health Professions Scholarships, the MD/PH.D or Medical Scientist Training Program and scholarships from our Medical Alumni Office.)
G. You must accept responsibility for all loan agreements you sign. Loans are obligations that must be repaid. You must repay both principal and interest even if you do not complete your program, are unable to obtain employment, or are otherwise dissatisfied with educational or other services from the school.
H. You must accept responsibility for all service agreements you sign. Service contracts not repaid with service must be repaid monetarily. You must repay both principal and accrued interest even if you do not complete your program, are unable to obtain employment, or are otherwise dissatisfied with educational or other services from the school.
I. If you terminate enrollment by withdrawing or graduating from the medical school, and you have received loans from any source for which applications were processed by the Financial Aid Office at anytime during your enrollment, you must meet the exit interview requirements
Entrance Interview Requirements
Entrance interviews are designed to ensure borrowers are provided the opportunity to become informed and understand the responsibility they are assuming.
Federal Loan Programs (subsidized and unsubsidized): Regulations governing these programs require all first-time borrowers at the University of Virginia have an entrance interview. Currently this is part of first-year student orientation. First-year students must also complete the online entrance counseling.
Exit Interview Requirements
Stafford and Federal Direct Loans: All borrowers must have an in-person exit interview with a counselor in the Financial Aid Office prior to graduation or withdrawal from school.
School Loans: Same as Federal Loans
It is the responsibility of the borrower to contact the Financial Aid Office to schedule an exit interview appointment prior to graduating or withdrawing from school.
Although our office will make every effort to contact upcoming graduates in the early spring prior to graduation to schedule exit interview appointments, it is ultimately the responsibility of the borrower to contact our office to arrange an interview.
We believe borrowers will find the exit interview informative. Our counselors attempt to provide the most current information concerning repayment options available to borrowers, strategies for managing debt, estimated monthly payments and payment begin dates.
For the policy on Satisfactory Academic Progress, click here.