Financial Aid Refund Policy

Financial Aid Refund Policy

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. Students enrolled for classes in multiple sessions within the semester will not receive their entire refund until each class has passed the *census date.

*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 to 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. These students’ federal aid will be recalculated. Recalculations may result 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 Any student who does not meet this requirement or who has withdrawn completely from the College for the semester, will have their undisbursed student loan funds sent back to the lender.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.