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TERMS AND CONDITIONS OF YOUR SAINT MARY’S COLLEGE FINANCIAL AID OFFER

By accepting my financial aid awards, I acknowledge I have read, understand, and will abide by the terms, conditions and requirements listed below.

COMMUNICATION POLICY:

• Email is the official method of communication for Saint Mary’s College. Failure to check your Saint Mary’s college email account or forward email to the account you use is not acceptable justification for missing important information sent to you by the College via email.

ENROLLMENT:

• I agree that I must be enrolled at least half-time and agree that if I withdraw or cease to carry the number of course credits required, I will make arrangements with the Financial Aid Office to repay any aid advanced to me for which I am no longer eligible.
• All students receiving financial aid are expected to make Satisfactory Academic Progress toward their degree as defined for undergraduates in Saint Mary’s College’s Satisfactory Academic Progress Policy.

CHANGES TO AID OFFERED:

• I agree to report to the Financial Aid Office any material changes that occur after submission of my original application (FAFSA), such as changes in my financial, housing, or enrollment status. As a result, I understand my aid eligibility may be adjusted.
• Saint Mary’s College reserves the right to modify financial aid offer(s) at any time due to changes in my financial aid eligibility or changes in the availability of funding.
• The Financial Aid Office uses email to notify students of any changes to their financial aid. Make sure you check your email often.

SAINT MARY’S COLLEGE SCHOLARSHIPS:

• Funding of a Saint Mary’s College Scholarship may come from a specific gift to the college or from an endowed scholarship account. These scholarships are made available through the generosity of Saint Mary’s alumni and friends of the College. Students receiving scholarship funds from specific donors are expected to write a thank you letter to that donor. Information needed to write your personalized thank you letter will be forwarded to you prior to the start of the school year.

REPORTING SCHOLARSHIPS AND OTHER AID:

• I will report, in writing, to the Financial Aid Office any other educational aid I will receive.

LOANS:

• I understand that loans must be repaid, and I agree to do so under the terms and conditions of my promissory note(s). On an annual basis, you are encouraged to view your federal loan history through the
• I understand that all Federal loan programs (Federal Stafford Direct Loans) require participation in a Loan Entrance Counseling session and a signed promissory note prior to the disbursement of funds.

CANCELLING OF FUNDS:

• I understand that by providing affirmative confirmation of accepting the loan, I have 14 days after the start of the payment period, or after the notification of disbursement (whichever is later), to cancel all, or a portion, of a loan; or
• Within 30 days after the start of the payment period, or after the notification of disbursement (whichever is later) without providing affirmative confirmation.
• I understand that after this timeframe, the institution may only optionally return the funds upon request of cancellation.

AUTHORIZATION FOR THE USE OF FUNDS:

• I authorize ÐÇ¿Õ´«Ã½ to credit financial aid funds I have accepted against initial charges on my student billing account including, but not limited to: tuition, mandatory fees, food and housing, course material fees, library fines, etc. prior to disbursing any balance to me. I understand that the balance disbursed to me after deduction of the initial charges on my student billing account may not reflect additional and subsequent charges and fees that I may incur after receiving my financial aid disbursement. I further understand that the disbursement of the remaining balance is not intended as a final accounting of all charges for which I am responsible and that I will pay any additional charges not deducted from my financial aid funds and not reflected in the balance disbursed to me. I understand I have the right to rescind this authorization in writing by giving proper written notice to the SMC Financial Aid Office.
• If I am receiving a Cal Grant B, I agree to allow my Cal Grant B Access Allowance to be credited toward my educational costs at Saint Mary’s College. This authorization is valid until I rescind it by completing a Cal Grant B Payment Authorization form available from the SMC Financial Aid Office.