Enrollment is the first step toward investing in your future. Financing your education is an essential part in helping you achieve your career goals. Your dedication to building your career comes with a set of key expectations and responsibilities to help you achieve that success.

Receiving your financial aid award depends on your completion of the FAFSA for each academic year. You also need to ensure that you meet all requirements for application and eligibility for each aid year and each semester.

Financial Aid Rights 

Financial rights are meant to empower you throughout your enrollment at Madison College. You are encouraged to exercise the following financial aid rights as a student here at Madison College:

  • You have the right to financial aid eligibility, which will be determined fairly and consistently based on federal and state regulations and Madison College policies.
  • You have the right to be considered for any financial aid programs that you qualify for, based on funding availability.
  • You have the right to request assistance if you have questions or don't understand any of the information that is provided to you.
  • You have the right to know the details on how your financial aid eligibility is determined, types of aid, relevant regulations, policies, and procedures.
  • You have the right to be given timely notifications of your financial aid award and when any adjustments are made.
  • You have the right for your financial aid records, your parents' financial records, and your award information to be kept confidential in accordance with the Federal Education Right to Privacy Act (FERPA).
  • You have the right to obtain information about your student loan debt burden including repayment options available.

Your Financial Aid Responsibility Checklist

  • Apply for financial aid through the FAFSA each academic year that you wish to receive aid.
  • Provide complete and accurate information to ensure your financial aid to be correctly determined.
  • Be officially admitted into a financial aid eligible program.
  • Register in courses by the Pell Recalculation Date for each semester. All courses must fulfill outstanding graduation requirements for your current program of study. 
  • Monitor your myMadisonCollege Student Center and student email regularly.
  • Read and keep copies of all forms and documentation that are requested by and submitted to the Financial Aid Office and other agencies before the applicable deadlines. 
  • Inform the Financial Aid Office of any other aid, such as scholarships, or state grants, that may not be listed on your award.
  • Use aid offered for educational expenses as defined in your cost of attendance.
  • Understand and maintain the requirements of Satisfactory Academic Progress including:
    • Achieving a cumulative GPA of 2.0, or higher.
    • Completing at least 67% of the cumulative credits attempted.
    • Complete your program within 150% of the published program credits – ex: An Associate’s Degree is generally 60 credits – 150% = a maximum of 90 credits. 
  • Report any change in your status, such as your name or address, to Madison College in your myMadisonCollege Student Center and to your loan servicer (if applicable). 

If You Are a Federal Direct Student Loan Borrower

  • Complete Entrance Counseling to better understand your responsibilities and obligations by borrowing student loans. 
  • Complete a Subsidized/Unsubsidized Master Promissory Note (MPN). The MPN is a legal document in which you are promising to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education.
  • Complete Exit Loan Counseling when you graduate or drop below half-time.
  • Repay any loan you receive. Select a repayment plan.
Get Financial Aid Help
Schedule an appointment with one of our financial aid experts to get your questions answered.