Your Rights and Responsibilities as a Touro University Nevada (TUN) Student:
As a student you have the following rights:
- To be informed of the cost of attendance;
- Procedures and deadlines for submitting applications for financial aid;
- The different types of financial assistance available from federal, state, and institutional sources; and
- Who the financial aid personnel are and the location of the Office of Financial Aid.
As a borrower you have certain rights
Once the U.S. Department of Education approves your loan, you will receive in the mail a Disclosure Statement providing you with the following information:
- The full amount of the loan;
- The interest rate as specified in the promissory note;
- The lender or designated agency, must return your promissory note when the loan is paid in full; and
- When you must start repaying the loan.
Once TUN receives your funds from the U.S. Department of Education, you will receive an email acknowledging your loan funds have arrived, will be applied to your tuition and fees, and that you will be notified once your refund is available from the TUN Office of the Bursar.
Before you begin repayment of your loan, the holder of your loan, is required to give you a repayment schedule and detailed information regarding interest rates, fees, your outstanding balance and available repayment options.
- You have the right to defer repayment for certain defined periods after the grace period, if you qualify;
- You have the right to request a forbearance, if you qualify; and
- You may prepay your loan in whole or in part at any time without penalty.
One of the major aspects in financial aid is for a student to understand the responsibilities attached to receiving aid. By accepting the financial aid offered, a student must realize that they are expected to:
- Know and understand the terms and conditions of all financial aid programs from which aid was awarded;
- Know all deadlines for applying for aid and meet them. Provide all required documentation, corrections, and/or information requested by the Office of Financial Aid;
- Understand that the proceeds from the loan can only be used for tuition, fees, living expenses and other reasonable related educational living expenses, as outlined in the budget;
- Repay loans with all accrued interest and deducted fees, even if you do not complete your education, are unable to find employment or are dissatisfied with the education you received;
- Repay loans within the time allocated by the lender or designated agency;
- Notify the lender or designated agency in writing within 10 days if the following occur:
- Change of name
- Change of address
- Change of phone number
- Change of graduation date
- Transfer to another school
- Enroll less than half time
- Withdraw from school;
- Complete the paperwork to have loans deferred or placed on forbearance;
- Not be in default on any loans or owe a refund on any grant; and
- Inform the Office of Financial Aid of any grants, scholarships or any other form of assistance that you may receive.
The following links contain information to explain the financial aid process, to meet regulatory mandates, and are available as provided:
- Financial aid programs available to students
- How students apply for financial aid and how eligibility is determined
- How the school distributes financial aid among students, the rights and responsibilities of students financial receiving aid
- How and when financial aid will be disbursed:
- The criteria for measuring satisfactory academic progress, and how a student who has failed to maintain satisfactory progress may reestablish eligibility for federal financial aid