Education after high school requires time, money and effort. It is a big investment. As a student and consumer you should carefully evaluate all education or training options. To help make a good choice, you should have information about a school's academic program, facilities, graduation rates, full cost of attendance, refund policy, financial aid programs, and other information you think will help in making a decision. Get good answers before making a commitment.

As a financial aid recipient, it is your right to ask:

• What it costs to attend, and what the policy on refunds is for students who drop out.

• How the school determines whether students are making satisfactory academic progress and what happens if they are not.

• What financial help is available, including information on all federal, state, and school financial aid programs.

• About the deadlines for submitting applications for each of the financial aid programs available and what criteria is used to select financial aid recipients.

• How individual financial need is determined. This process includes how costs for tuition and fees, room and board, transportation, books and supplies, personal and miscellaneous expenses, etc., are considered in your budget.

• What resources (such as parental contribution, other financial aid, personal assets, etc.) are considered in the need calculation, and how much of your financial need, as determined by the school, is met.

• To explain the various programs in your student aid package. If you believe you have been treated unfairly, you may request reconsideration of the award.

• How much of your financial aid must be repaid, and what portion is grant aid. You have the right to know what the student loan interest rate is, the total amount that must be repaid, payback procedures, when repayment is to begin and how long you have to repay.

• How to apply for additional aid if your financial circumstances change.

As a financial aid recipient, it is your responsibility to:

• Review and consider all information about a school's program before enrolling.

• Complete the financial aid application accurately and submit it on time to the appropriate processor. Errors delay the processing of your financial aid application. Intentional misrepresentation on an application for federal financial aid is a violation of law and a criminal offense subject to penalties.

• Respond promptly and return all requested additional documentation, verification, corrections, and/or new information to the appropriate agency.

• Read, understand and keep copies of all forms and agreements that you sign.

• If you have a loan, notify the school and lender of changes in your name, permanent mailing address, marital, or enrollment status.

• Perform in a satisfactory manner the work that is agreed upon in accepting a work-study award.

• Know and comply with the deadlines for application or reapplication for aid, and with the school's refund procedures.

• Maintain satisfactory academic progress according to the school's policies and standards.

• Report the receipt of any scholarships or outside resources to the financial aid office.

• Ensure that you keep your federal FAFSA PIN confidential and do not share it with your parents or any other person, including financial aid staff.