When a student has financial aid funds that exceed the charges on the account, after paying for tuition, fees, books, and supplies, the student is entitled to a refund check. The College’s Student Account Services Office will generate and mail refund checks to eligible financial aid students. This process will take place on specific dates throughout the semester. Students receiving federal, state and institutional funds must meet all eligibility requirements before funds are released. For students who enrolled for classes in multiple sessions within the semester, they will not receive their entire refund until each class has passed the *census date of the latest starting class they enrolled for. Therefore, if they withdraw from a class or classes before the last class’ census date, the dropped classes are not eligible for federal financial aid.
*The Census date is set by the College and marks the end of the drop/add period. On this day, the College takes a “snapshot” of all students enrollment which becomes the “official enrollment” that is used for both reporting and financial aid eligibility.
FINANCIAL AID REFUND POLICY FOR WITHDRAWALS (Return of Title IV)
Financial aid students who withdraw from all classes prior to the 60% point of the semester will have their aid recalculated following the Federal Return of Title IV funds process. This means all federal aid may be reduced or canceled based upon the date of withdrawal from all classes.
FINANCIAL AID POLICY FOR UNOFFICIAL WITHDRAWALS
Students who receive final grades of all “Fs” or all “Fs” and “Ws” will be treated as unofficially withdrawing from the College, and their federal financial aid will be recalculated. According to the federal regulation, students who have unofficially withdrawn will only earn 50% of the disbursed and could be disbursed federal aid. If the students can provide documentation that they have earned the F grade or that they are actively enrolled beyond the 50% mark of the semester in which case the documented last date of academically related activities will be used.
Recalculations of a portion of the federal aid received may result in the student repaying a part or the entire portion of the financial aid. This may results in the student owing a refund to the College.
Financial aid students who withdraw from all classes after the 60% point of the semester will not have their aid reduced.
For students who have been awarded Federal Student Loans, disbursement of funds will occur if the student has met Federal Loan Requirements. Loan requirements include enrollment for at least 6 credits (half-time) per semester. Any student who does not meet this requirement or who has withdrawn completely from the College for the semester, will have their undisbursed student loan funds sent back to the lender. If the loan funds have been disbursed, the College will use the Federal Return of Title IV funds process to determine the amount to be returned to the lender.