Cancellation of Aid. Your student aid may be canceled and future applications refused consideration if you do any of the following:
- Provide false data or falsify information
- Fail to provide complete information/data
- Enroll in fewer than the minimum hours required for your type of aid
- Fail to report a change in financial resources
- Fail to fulfill the satisfactory academic progress requirement
- Use financial aid funds for expenses that are not related to education
- Are terminated from a work-study position
- Withdraw from the College
Receipt of Additional Financial Aid Funds. If you receive additional financial aid funds to assist with educational expenses, you must notify the Financial Aid Office immediately. This includes scholarships, private funds or other sources of assistance made available to you.
Change in Financial Resources. If your financial circumstances change after an award has been made, you must inform the Financial Aid Office immediately. Documented changes may produce changes in your eligibility status and the amount of financial aid you receive. Changes resulting in a larger income must be reported as well as those resulting in a lower income. A worksheet is available from the Financial Aid Office that will assist the College in determining what action should be taken.
Change of Name or Address. You must notify the College if your name or address changes while you are attending Southeast Arkansas College. If you are a loan recipient, it is your responsibility to notify the College and your lender of any name or address change while you are repaying the loan, even if you are no longer attending Southeast Arkansas College.
Selective Service Certification. You must certify that you have registered for the Selective Service if you are required to do so.
Management of Funds. Student financial aid is normally awarded for an academic year; therefore, you will receive your funds in one or more disbursements each semester. Disbursements will be made approximately four to six weeks after the beginning of classes. You will need to manage your financial aid funds carefully so they will last the entire semester; if you spend carelessly, you may find yourself without funds before the semester is over.
Loan Repayment. It is your responsibility to repay all loans made through the Southeast Arkansas College Financial Aid Office. You should carefully read the Master Promissory Note (MPN) before signing the promise to repay loan funds.
Over-award. If you receive more financial aid than is needed to cover your educational costs, this is called an over-award. Failure to tell the Financial Aid Office about outside financial resources or help may result in your receiving an over-award. If you receive an over-award, you may have to repay part or all of the financial aid received from the College. Be sure to include all of your financial resources on your aid application, and notify the Financial Aid Office of new financial resources after the award has been made so that you can avoid an over-award.
Student Aid Program Requirements. Each financial aid program has specific conditions, and it is your responsibility to carefully study and learn these conditions. Specific conditions for eligibility and receipt of each program are in this guide and your award letter.
Withdrawal from the College. You must complete an official withdrawal form if you withdraw from the College. This form must contain your signature, the Financial Aid Advisor’s signature, and be turned into the Registrar’s Office to be valid. Official withdrawal forms are available in the Registrar’s Office. Failure to officially withdraw from a course or the College will cause a failing grade of “F” to appear on your transcript for the course.