83-000 FINANCIAL AID (POLICY) A. PRINCIPLES OF FINANCIAL AID ADMINISTRATION The statement of principles quoted below was developed and endorsed by the institutional membership of the college Scholarship Service assembly of the College Entrance Examination Board. 1. The purpose of any financial aid program - institutional, governmental, or private - should be to provide monetary assistance to students who can benefit from further education but who cannot do so without such assistance. 2. Each college has an obligation to assist in realizing the national goal of equality of educational opportunity. The college, therefore, should work with schools, community groups, and other educational institutions in support of this goal. 3. The college should publish budgets that state total student expenses realistically including, where applicable, maintenance at home, commuting expenses, personal expenses, and necessary travel. 4. Parents are expected to contribute according to their means, taking into account their income, assets number of dependents, and other relevant information. Students themselves are expected to contribute from their own assets and earnings, including appropriate borrowing against future earnings. The financial aid director will have total authority of waiving P-S Contribution. 5. Financial aid should be offered only after determination that the resources of the family are insufficient to meet the student's educational expenses. The amount of aid difference between the student's total educational expenses and the family's resources. 6. The amount and type of self-help expected from students should be related to the circumstances of the individual. In the assignment of funds to these students designated to receive financial aid to receive financial aid, the largest amounts of total grant assistance should go to students with the least ability to pay. 7. The college should review its financial assistance policies annually and adjust them, if necessary, to reflect changes in the financial needs of students and the expenses of attending the institution. The college has an obligation to inform students and parents of the financial aid renewal policies for enrolled students at the time of the initial offer of financial assistance. 8. Because the amount of financial assistance awarded reflects the economic circumstances of the student and their families, the college should refrain from any public announcement of the amount of aid offered, and encourage the students, their secondary schools, and others to respect the confidentiality of the information. 9. All documents, correspondence, and conversations between and among the aid applicants, their families, and financial aid officers are confidential and entitled to the protection ordinarily arising from a counseling relationship. 10. Concern for the student should be paramount. Financial aid should be administered in such a manner that other interests, important though they may be are subordinate to the needs of students. 11. Any student has the right to appeal a decision(s) by the Financial Aid Director through the Student Service Committee.
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