Academic Catalog 2018

balance created by withdrawal will be placed on hold and the student will not be able to obtain a transcript or be readmitted for additional semesters until the balance is paid. Return of Title IV Funds Financial aid funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws from the College or from the semester, drops courses, or fails to participate in courses, that student may no longer be eligible for the full amount of aid they were originally awarded. If a recipient of Title IV grant or loan funds withdraws from the College after beginning attendance, the amount of Title IV grant or loan assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received. Any time a student begins attendance in at least one course but does not begin attendance in all the courses he or she was scheduled to attend, regardless of whether the student is a withdrawal, the College must check to see if it is necessary to recalculate the student’s eligibility for Federal, State, and Institutional funds based on a revised enrollment status and cost of education. If the student is a withdrawal, this recalculation must be done before performing a Return of Title IV Funds calculation, and the College must use the recalculated amounts of aid in the return calculation. The withdrawal date for a student who officially withdraws will be the date provided by the Registrar. For a student who leaves the College without notice or ceases participating (considered unofficial withdraw or a drop-out), his or her withdrawal date will be the midpoint of the semester or alternatively the College may use the last date of attendance or participation in an academically-related activity if there is documentation he or she participated and that the activity was academic in nature. The refund calculation is based on the number of calendar days attended within the semester or term, divided by the total number of calendar days in the semester or term, excluding any break of five days or more. This ratio will produce a percent of attendance and a percent of non-attendance, and thus, percentages of earned aid and unearned aid. The College will charge back to the student (by removing financial aid awards posted to the account) amounts equal to the percent of unearned aid, and return that amount to the government funding sources and financial aid programs. For Federal awards, the money will be returned to the U.S. Department of Education programs in the following order until the required amount of unearned funds have been returned:

• Unsubsidized Federal Direct Loans • Subsidized Federal Direct Loans • Federal Plus (parent) Loans • Federal Pell Grants • Federal SEOG

The only federal funds excluded from this process are Federal Work-Study (FWS) awards. These awards are paid as they are earned through work-study job assignments. Payments for hours worked are earned and not subject to refund. FWS awards for hours not

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