Rights and Responsibilities of Students
Receiving Financial Assistance

  1. Criteria for continued student eligibility under each program:
    • Pell Grant- Students must complete the Free Application for Federal Student Aid (FAFSA) each year in order for eligibility to be determined. The information provided on the FAFSA is used by the Department of Education to calculate each students Expected Family Contribution (EFC). The EFC is used by each school to determine if a student is eligible and for how much. Students who are eligible for the Pell grant must also being making Satisfactory Academic Progress (SAP) as determined by the ICC's SAP Policy listed below. Students must have not been convicted of a drug related offense while receiving federal funds, must not be in default on a federal student loan, and cannot owe an overpayment on federal aid received. Male students must also register with Selective Service before reaching age 26. Please contact the ICC Financial Aid Office if you have questions.

      ICC Satisfactory Academic Progress Policy
       
    • Supplemental Educational Opportunity Grant (SEOG) - Students must meet all the requirements for continued eligibility for the Pell Grant listed above. SEOG is awarded based on need and availability of funds. Need will be determined each year.
       
    •  Federal Work Study (FWS) - Students must meet all the requirements for continued eligibility of the Pell Grant listed above. FWS is awarded based on need and availability of funds. Need will be determined each year.
       
    • Teach Grant - Student must complete the FAFSA each year in order to continue eligibility. Students must also be making Satisfactory Academic Progress. In addition, they must maintain a 3.25 grade point average and be admitted into a Teach grant eligible program. Students must also meet additional eligibility requirements listed on the Web at http://studentaid.ed.gov/.  Click on Federal Student Aid Programs and then Grants. Please contact the Financial Aid Director each year to determine eligibility.
       
    • Federal Subsidized, Unsubsidized and Parent Plus Loans - Students must complete the FAFSA each year in order to determine eligibility. Students must also be making Satisfactory Academic Progress. Students must be enrolled in a minimum of six hours when loan funds are received to receive a student loan disbursement. Students must have not been convicted of a drug related offense while receiving federal funds, must not be in default on a federal student loan, and cannot owe an overpayment on federal aid received, or borrow in excess of lifetime loan limits.
       
  2. ICC's standards which the student must maintain in order to be considered to be making satisfactory progress in his or her course of study for the purpose of receiving financial assistance is listed above under the Satisfactory Academic Progress Policy.

    Criteria by which the student who failed to maintain satisfactory progress may re-establish his or her eligibility for financial assistance.  Students can re-establish their financial aid eligibility by improving their grade point average and percentage of hours completed to the standards shown in the grid above.
     
  3.  The Methods by which financial assistance disbursements will be made to the students and the frequency of those disbursements. The Financial aid office will collect all financial aid awards (grants, loans, work-study, institutional scholarships and all other scholarships and credit all awards to the Business Office account. The Financial Aid office will check enrollment and revise awards if necessary and then authorize the Business Office to pay the appropriate awards. Check the ICC website at www.iccms.edu/students/financial/ for payment dates and enrollment check (census) dates.
     
  4.  The terms of any loan received by a student as part of the student's financial aid package, a sample loan and repayment schedule for sample loans and the necessity of repaying loans can be found in the information accompanying the student's master promissory note and lender disclosure statements. Students may also find valuable information for managing student loan debt at http://www.dl.ed.gov/borrower/. 
     
  5.  The general conditions and terms applicable to any employment provided to a student as part of the student's financial assistance package are listed below:

    Students may work up to 10 hours per week during the school year and 30 hours per week during the summer. Most positions are on campus, either Fulton or Tupelo. Approximately 250 students share some $250,000 each year. Students are paid minimum wage for hours worked and are paid once a month. Students can earn approximately $750-$1000 per semester. Students can work full-time during the summer months and make approximately $1500 to $1800 per summer term.

    Eligible students are assigned to a department and must complete an interview form with the department for which they have been assigned. During this interview process the job responsibilities will be discussed with the student. If the student feels they cannot perform these responsibilities, they can return the interview form to the work study coordinator and she will reassign the student if possible. Students are employed in various areas which include clerical assistants, secretarial assistants, instructional assistants, library assistants, data entry clerks, and computer technician assistants. Duties might include filing, making copies, data entry, running errands or answering the phone. Students must be currently enrolled to be eligible.
     
  6. The institution shall provide and collect exit counseling information as required by 34 CFR 382.604 for borrowers under the Federal Stafford Loan Program. ICC makes a good faith effort to mail exit counseling instructions and materials to all students who have ever had a student loan and who graduate, withdraw from school, or discontinue enrollment. Loan exit counseling can also be completed on the Web at www.dl.ed.gov/borrower/.
     
  7.  Students who are having trouble making their student loan payments should contact their lender as soon as possible. Students might be eligible for deferment or forbearance of loan payments for a temporary period of time. Students who are unsure of their lender can use the NSLDS Web site to determine their lender at http://www.nslds.ed.gov/.  Students can also find valuable information for managing student loan debt and deferment and forbearance forms at www.dl.ed.gov/borrower/.