Financial Policies

Student Financial Rights & Responsibilities  

Students have the right to: 

• Know what financial assistance programs are available to them, including all federal, state, and institutional financial aid programs. 

• Know the deadlines for submitting applications for each of the financial aid programs available, and the process required. 

• Know the method and frequency of financial aid disbursements. 

• Know how financial need is determined, including how costs for tuition and fees, room and board, travel, books and supplies, personal and miscellaneous expenses, etc., are considered in their budget. 

• Know resources (such as parental contribution, other financial aid, assets, etc.) were considered in the calculation of need. 

• Know how much of the financial need as determined by the institution has been met. 

• Request an explanation of the various programs in your student aid package. 

• Know the school’s refund policy, including what portion of the financial aid you received must be repaid, and what portion is grant aid. If the aid is a loan, students have the right to know what the interest rate is, the total amount that must be repaid, the payback procedures, the length of time they have to repay the loan, and when repayment is to begin. 

• Know how the school determines whether students are making satisfactory progress (SAP), and consequences of not meeting SAP. 

• Request a review of their current financial situation if they meet certain criteria based on changes since filing the current aid year FAFSA® application. 

Students have the responsibility to: 

• Be aware of the ability to pay any institutional charges based on your available financial aid and personal resources. 

• Review and understand the terms and conditions of their financial aid award. 

• Complete all requirements accurately, in a timely manner, and by the appropriate deadlines. 

• Inform Hondros College of Nursing of any outside scholarships, tuition reimbursement, or additional resources that they receive. 

• Fill out the FAFSA® application completely and accurately, provide all requested documents in a timely manner, and ensure that all submitted materials are complete and accurate. Falsification of information on application forms for federal financial assistance is considered a criminal offense and may be subject to penalties under the U.S. Criminal Code. 

• Read, understand, and keep copies of all forms that they are asked to sign. 

• Accept responsibility for all signed agreements. 

• Be aware of and comply with all policies and procedures at Hondros College of Nursing. 

• Be aware of the school’s refund procedures. 

• Manage the financial aid experience.