Academic Catalog 2018

worked are considered unearned and fully refundable to the federal program. If the student received aid in excess of direct costs, and thus received a credit balance refund check from BC Central, the student is responsible for returning their share of the unearned aid. However, if the credit balance check received was in the form of federal loan proceeds, the Department of Education will allow the student to repay in the normal method of loan repayment, which is through monthly installments. If the credit check received was in the form of a federal grant, the federal government will expect only 50% of the unearned grant money to be repaid. The student has 45 days to repay the money or make arrangements with either the College or the federal government for repayment. If the student does not comply with repayment requirements, he or she will lose eligibility for future Title IV funds.

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