2 Convent Road
Santa Rita Hall
Morristown, NJ 07960-6989
Phone: (973) 290-4445
Fax: (973) 290-4421
The Financial Aid office will inform continuing students of any changes in state and federal regulations that will impact their eligibility for financial aid programs. Continuing students will also be notified annually in November of the renewal application process.
In order to continue to receive financial aid, recipients must adhere to the following requirements (where applicable):
Before incurring any loan, students should know the terms and conditions of the loan, as well as their rights and responsibilities as student borrowers.
A loan is money that is borrowed and paid back with interest. Students usually pay back the loan in monthly installments until the entire amount of the loan (principal and interest) is repaid. In some cases, a student may postpone or defer payment of the loan, but a deferment must be approved by the lending institution.
If a student fails to repay his or her loan (or defaults), the government may penalize him or her, and may withhold money from paychecks and tax refunds. In addition, the student will be ineligible to receive any future federal aid and his or her credit rating will be negatively affected.
The exact terms and conditions of a student loan may be obtained in detail from the lender. While student loan programs differ in some ways, a student's rights and responsibilities as a borrower are basically the same for all programs. These rights and responsibilities are explained during two mandatory counseling sessions at the College of Saint Elizabeth. The first one takes place when a student starts at the College and is known as the "entrance interview." The other session, the "exit interview", takes place when a student graduates or withdraws from the College of Saint Elizabeth.