Student Financial Rights & Obligations

Student Rights

  1. You have the right to know what financial aid programs are available at your school.
  2. You have the right to know the deadlines for submitting an application for each of the financial aid programs available.
  3. You have the right to know how financial aid will be distributed, how decisions on that distribution are made, and the basis for these decisions.
  4. You have the right to know how your financial need was determined. This includes how costs for tuition and fees, room and board, travel, books and supplies, and personal expenses are considered in your need.
  5. You have the right to know how much of your financial need as determined by the institution has been met.
  6. You have the right to request an explanation of the various programs in your financial aid package.
  7. You have the right to know your school's refund policy.
  8. You have the right to know how the school determines whether you are making satisfactory academic progress and what happens if you are not.
  9. When you receive your financial aid, you have the right to know what portion of the financial aid you received must be repaid and what portion is scholarship aid. If the aid is a loan, you have the right to know the interest rate, any charges you must pay such as guarantee, insurance or origination fees, the total amount that must be repaid, the repayment procedures, the various options for consolidating or refinancing your loan, the length of time you have to repay the loan, when repayment will begin, the definition of default and its consequences, and whether you can repay your loan at any time.
  10. Your school must notify you in writing whenever it credits your account with Direct Student Loan funds. This notification must be sent no earlier than 30 days before and no later than 30 days after the school credits your account. You may cancel all or a portion of the loan by informing your school within 14 days after the date that your school sends this notice, or by the first day of the payment period, whichever is later.
  11. Before you leave school, you have the right to know the amount of your total debt, the interest rate on your loans, and the total interest charges on your loans. You also have the right to know the name of the lender or agency that holds your loans, where to send your payments, and where to write or call if you have questions. If you have Federal Direct Student Loans, you have the right to know the address and telephone number of your Direct Loans Servicing Center. You further have the right to know the fees you may be charged during the repayment period, such as late charges. You have the right to know the available options for consolidating or refinancing your loan and whether your loan can be prepaid without penalty.
  12. Before you leave school, you must be provided a current description of your loans, including average monthly anticipated payments; a description of applicable deferment, forbearance, and discharge provisions; repayment options; advice about debt management; information about your loan repayment schedule including when your first payment is due, the number and frequency of payments, and the amount of each payment. You must be provided a summary of deferment and loan cancellation provisions, including the conditions under which the U.S. Department of Education may repay your loan.
  13. During repayment, you must be notified when your loan is sold if the sale results in making payments to a new lender or agency. Both the old and new lender or agency must notify the borrower of the sale, the identity of the new lender or agency holding the loan, the address to which the borrower must make payments, and the telephone numbers of both the old and the new lender or agency.

Student Responsibilities

  1. You must be aware of and comply with the deadlines for application or reapplication for financial aid.
  2. You must complete all application forms accurately and completely and must submit them on time to the right place.
  3. You must provide correct information. In some instances, misreporting information on financial aid application forms is a violation of the law and may be considered a criminal offense that could result in indictment under the U.S. Criminal Code.
  4. You must complete and return all additional documentation, verification documents, corrections, and/or new information requested by either the Financial Aid Office or the agency to which you submitted your application.
  5. You are responsible for reading and understanding all forms that you are asked to sign and for keeping copies of said forms.
  6. You must accept responsibility for all agreements that you sign.
  7. You must perform the work that is agreed upon in accepting College Work/Study awards.
  8. You must be aware of your school's refund policies.
  9. All schools must provide information to prospective students about the school's programs and performance. You should consider this information carefully before deciding to attend a school.
  10. A student is required to notify the College of Medicine’s Financial Aid Office when any financial aid is awarded from sources not previously known or recommended by the Office.
  11. You must inform the Financial Aid Office of any changes in financial or family circumstances that occur after submission of application documents. You must also notify the Financial Aid Office of any changes in address or marital status.
  12. When an award recommendation is received, students must decline any award not wanted or needed in writing.
  13. Students should restrict their student loan borrowing to those amounts that are absolutely necessary to begin or continue in medical school.

Financial Obligations to Howard University

A student who is delinquent in meeting financial obligations to Howard University will not be allowed to register for the next term or to graduate. It is also the policy of Howard University that transcripts or other certifications will not be issued for students who are financially delinquent. Student loans must be repaid to the Student Loan Office. Student loan debts are not applied to student accounts.

A student who is in default on a previous student loan will not be eligible for financial aid through Howard University even if the student demonstrates financial need.

Standards for Satisfactory Academic Progress for Maintenance of Financial Aid Eligibility for Students Pursuing the M.D. Degree at Howard University

Federal law and regulations require that all students receiving assistance through programs under Title IV of the Higher Education Act must maintain satisfactory academic progress in the course of studies being pursued. These regulations are described in the Federal Register published on October 6, 1983.

The academic requirements for the M.D. degree include satisfactory performance in all required and elective courses of the curriculum approved by the faculty of the College of Medicine. Students must also pass Step 1 and Step 2 of the United States Medical Licensing Examination (USMLE). The Committee on Student Promotions, Graduations and Prizes meets at the end of each grading period to review the academic performance of each student.