Student Rights and Responsibilities
As a student consumer you have the right to:
1. Contact and Notify the Financial Aid Office:- Report any additional financial aid from sources outside UNM, as this may adjust your UNM financial aid.
- Inform the office of changes in your name, address, enrollment status, graduation date, housing status, or other attendance-related changes.
- Application Process: Understand how to apply for Federal Financial Aid as an Undergraduate, Graduate, Transfer, or Non-degree student.
- Types of Aid: Learn about available financial aid, including Scholarships, Grants, Work-Study, and Loans from federal, state, and institutional programs.
- Deadlines & Criteria: Know the deadlines, selection criteria, and eligibility requirements for each program. For the most current FAFSA priority date, please refer to our website.
- For Scholarship deadlines please refer to the scholarship website.
- Loan Information: Be aware of your total loan amount, loan terms, the Educational Loan Code of Conduct, and where to access Department of Education publications on student loans.
- Study Abroad Aid: Understand the financial aid available for study abroad programs.
- Cost of Attendance: Learn how your financial need is determined, including tuition, fees, room and board, travel, books, supplies, and personal expenses. UNM’s COA policy
- Aid Disbursement: Know how and when financial aid is paid out and refunded.
- Books & Supplies: You can use your financial aid refund to purchase books and supplies or charge them to your Bursar Student Account at the University Bookstore before aid is refunded.
- Maintaining Eligibility: Understand how to maintain financial aid eligibility, satisfactory academic progress requirements, and consequences of not meeting them.
- Student Loans: If you have a loan, know the terms, interest rates, repayment schedule, servicer details, and options for cancellation, deferment, and consolidation.
- Work-Study: Review the terms and conditions of student employment (work-study) included in your financial aid package.
- Withdrawal Policy: Be aware of the tuition and fees refund policy and financial aid repayment obligations if you withdraw before the end of the term.
- Aid Acceptance: You can accept, decline, or reduce any type of aid. However, reducing or declining aid may not be reversible due to limited funds. Avoid accepting more loan aid than necessary. Only accept the amount you need.
- Know your total loan amount borrowed;
- The Educational Loan Code of Conduct;
- Where to and how to access the Department of Education’s publications on student loans;
- The financial aid available for study abroad programs;
- How your financial need is determined; this includes how costs for tuition and fees, room and board, travel, books and supplies, and personal expenses are included in your cost of attendance;
- How and when financial aid is paid to students ( disbursement and refunds);
- How to purchase books and supplies; you can purchase books and supplies through a vendor of your choice using your financial aid refund (if applicable) or you can charge books and supplies to your Bursar Student Account at the University Bookstore and your financial aid will pay the charges (as long as you charge your books prior to your Financial Aid being refunded to you).
- How to continue to maintain eligibility for financial assistance; including how the financial aid office determines you are maintaining satisfactory academic progress and what happens if you are not ( UNM SAP Policy);
- The terms and conditions applicable to student employment (work-study) provided as part of a financial aid package;
- UNM withdrawal policy: the portion, if any of tuition and fees that are refunded to you if you withdraw by the designated date, and the portion, if any, of the financial aid you must pay back immediately if you withdraw before the end of the term;
- You can accept, decline or reduce any or all types of aid;
- If you reduce or decline aid, we may not be able to reverse this action as some funds are limited and distributed on a first-come, first-served basis;
- Accepting more financial aid than necessary is not advised. We will not offer more aid than needed to attend (see how aid is determined); however, you may not need all that is offered. It is in your best interest to only accept what you need.
Student Responsibilities
It is the student’s responsibility to:
- Understand and comply with the terms and conditions of Title IV aid (grants, work-study, and loans) that you receive;
- Read all University Financial Aid communications to your UNM email address;
- Know your total loan amount borrowed;
- Use financial aid funds only for education expenses (tuition, fees, room, board, books, supplies and other living costs);
- Respond promptly to all requests for supplemental information or documentation from the Office of Financial Aid;
- Know and meet the deadlines to apply and re-apply for financial aid;
- Complete all financial applications (FAFSA) and forms with thorough and accurate information;
- Read, understand and keep copies of all forms that you are asked to submit or sign;
- Notify the Office of Financial Aid if there is any change to information you reported on the FAFSA;
- Notify the Office of Financial Aid if there are any changes to your enrollment status or grade level;
- Notify the Office of Financial Aid if you receive any scholarships, grants, or other financial assistance from sources outside the university;
- Know and comply with university refund and withdrawal policies, and know any aid you may owe back;
- Maintain satisfactory academic progress to continue to be eligible for financial aid;
- Complete entrance counseling and exit counseling if you receive a Direct loan or/and Perkins Loan exit counseling;
- Notify your lender of any changes in your name, address, or school status while you are attending school and after you leave school;
- Repay any student loans you receive regardless of if you successfully completed your program;
- Perform in a satisfactory manner work agreed upon for Work-Study jobs;
- Understand that by signing the FAFSA, you agree that the information provided is accurate and complete and that if you purposely give false or misleading information, you may be fined up to $20,000, sent to prison, or both.
View the University’s Consumer Information
Satisfactory Academic Progress (SAP) Policy
