Your Rights and Responsibilities

For Receiving Financial Aid at The University of Montana

Explanation of Your Estimate of Financial Aid

• The award notice represents an accurate estimate of your aid if the information you provided on the FAFSA is correct. This offer is contingent upon the availability of funds and subject to change during the award period in accordance with federal regulations, institutional policy, and the accuracy of information provided by you.
• The value listed on any grant represents the amount paid for full-time attendance. Most grants are prorated to 75% for 9-11 credits, and 50% for 6-8 credits. Federal Pell Grants may be available for fewer than 6 credits. Twelve or more credits (full time) are required for the Federal Academic Competitiveness Grant, SMART Grant, and state Baker Grant.
• Tuition waivers will always match tuition charges and an increase or decrease in credits will affect the actual value listed on your bill. Please note: Mandatory and optional fees are not covered with tuition waivers.
• Any loan will be paid for the amount listed (minus any origination and guarantee fees when applicable). Enrollment for fewer than six credits disqualifies you from receiving any type of federal loan.
• All Federal, State and University of Montana aid will be disbursed in equal installments each semester with the exception of Work Study, which may be earned at any time in the award period.
• Please consider carefully the effects of rejecting any portion of your financial aid offer. Subsequent requests to review your aid package will be given low priority and may take several weeks to process.
• All financial aid is determined as of the 15th class day. Financial aid repayment may be required if your credit load has dropped by that day. Credits added after the 15th class day will not be considered for adjustments.

Your Promises and Conditions for Receiving Financial Aid at The University of Montana

• I certify that I do not owe a repayment on any grant, am not in default on any loan, and have not borrowed in excess of the loan limits under federal Title IV programs at any institution.
• I promise that I will use all money I receive from federal, state, or the institution only for expenses related to my studies at The University of Montana.
• I understand that I must be making satisfactory academic progress in a course of study leading to a degree. I further understand that my financial aid will be canceled if I fail to meet satisfactory academic progress requirements.
• If I withdraw, receive all failing grades, or do not complete a term, I understand (1) I may not have earned my federal aid and may owe a repayment, and (2) my eligibility for further aid will be suspended.
• I will inform the Financial Aid Office promptly of any other money I receive for educational purposes. Failure to do so may result in my having to repay federal or state aid and ineligibility for further aid. Assistance that must be reported includes, but is not limited to, scholarships, Vocational Rehabilitation, National Guard, American Indian Higher Education funding, or residency status changes.

Your Authorizations Given to The University of Montana

• I understand that I may cancel any of these authorizations by contacting the Financial Aid Office in writing at any time. I also understand that I am responsible for payment of any outstanding university charges before my financial aid will be released.
• I authorize The University of Montana to use my financial aid to:
  • credit financial aid on my registration bill;
  • pay charges other than tuition, fees, room and board that I may owe including, but not limited to library fines, medical insurance premiums, parking decals and other costs that I have incurred or selected;
  • pay minor prior year institutional charges up to $200.
• I authorize The University of Montana to offer me maximum dollars of subsidized and unsubsidized loans if my original loan estimates must change because of updated information.
• I acknowledge that under regulations governing financial aid programs, The University of Montana Financial Aid Office may release information about me to other qualified agencies including my lending institution. The information released may include my academic progress, grade point average, addresses, references and any financial aid information applicable to my eligibility for financial aid.
• My submission on Cyberbear certifies my acceptance of these authorizations and responsibilities.