Statement of Financial Responsibility
I understand that my Financial Aid Award is contingent upon my continued enrollment and attendance in each class upon which my financial aid eligibility was calculated. If I drop any classes before Seminole State College of Florida’s add/drop deadline or before the completion, I understand that my financial aid eligibility may decrease and some or all the financial aid awarded to me may be revoked.
If some or all my financial aid is revoked because I dropped or failed to attend class, I agree to pay any subsequent balance resulting from this revoked financial aid. I understand that if some or all my financial aid is revoked after it has been disbursed to me, then this will result in a balance due in my student account. This balance due is directly related to the award of my Title IV Federal Financial Aid (Pell Grant, Supplemental Educational Opportunity Grant (SEOG), TEACH Grant, Direct Loan, and PLUS Loan programs). If such a balance occurs, the Statement of Financial Responsibility is a promissory note between Seminole State College of Florida and me to repay such amounts. I promise and agree to repay all such revoked aid that was refunded on my behalf that resulted in a balance due.
I understand that aid on my “Financial Aid Award” does not represent actual or guaranteed payment but is an estimate of the aid I may receive if I meet all requirements stipulated by that aid program. Therefore, I agree to allow all financial aid I receive, including Federal Title IV funds, to pay all charges assessed to my account at Seminole State College of Florida, including but not limited to tuition, fees, bookstore charges, fines, and any other amount, in accordance with the terms of the aid.
I authorize Seminole State College of Florida to perform the following activities:
- use Title IV funds to pay for allowable educationally related charges other than tuition, fees, and room and board, including but not limited to application fees.
- disburse FWS wages by Electronic Funds Transfer (EFT) to a bank account; or
- apply up to $200 in Title IV funds to prior-year charges for other educationally related charges beyond tuition, fees, and institutionally contracted room and board.
Please note that the Title IV Authorization is not mandatory, but once granted, it will last throughout my time here at Seminole State College of Florida. I may rescind my authorization at any time. I understand I must submit the College’s approved Title IV Rescindment Form if I do not agree to allow charges to be deducted from my financial aid. I understand rescinding my Title IV Authorization is not retroactive—it takes effect on the date that the school receives the form. If I rescind an authorization to use Title IV funds to pay for other allowable charges, Seminole State College of Florida may use Title IV funds to pay any authorized charges incurred by me before the notice was received by the school. If I cancel an authorization to hold excess funds, the funds must be paid directly to me as soon as possible but no later than 14 days after the school receives the notice. However, regardless of any authorization obtained, I understand that Seminole State College of Florida must pay any remaining balance on Title IV loan funds by the end of the loan period and any other remaining Title IV program funds by the end of the last payment period in the award year for which they were awarded. Unless otherwise specified, I authorize Seminole State College of Florida to carry out the allowable activities for my entire enrollment period, including multiple academic years.
Seminole State College is an institution of higher education. As such, certain financial obligations are considered to be an educational loan offered for the sole purpose of financing an education and therefore is a non-dischargeable debt, pursuant to United States Bankruptcy Code section 523(a)(8).
Electronic processes for notifications and authorizations: I understand that Seminole State College of Florida uses U.S. mail and electronic notifications to MySeminoleState student account to communicate important notices and disclosures.