• Financial Aid recipients must adhere to the Satisfactory Academic Progress policy. Please click here to review the policy.
Please read the following information carefully.
Federal Financial Aid Rule
As of July 2000, students who withdraw from college will be required to repay half of their unused federal funds, such as the Pell Grant. A hypothetical case:
If you use $1,000 of a federal grant for tuition and drop out one-fourth of the way through the semester, you have only "earned" 25% of your grant. The college is required to return all of your "unearned" aid that paid for tuition, which is 75% or $750. You must repay 50% of that "unearned" $750, which amounts to $375 to the federal government.
What's the bottom line?
If at all possible, stay in school. Not only will you be able to continue your education, you can also avoid having to pay any money back to the government. Ask the Financial Aid Office for more information.
Financial Aid Award Explanation
The financial aid award that you will receive will be based upon full-time enrollment. Financial aid awards will be pro-rated for students enrolled for less than a full-time course load based upon official registration as of the 14th calendar day of the semester in the following manner:
|# of credits||Original grant total||Pro-rated by||Grant applied to bill||Tuition & Fee Charges||Annual Book Amount|
|9,10,11||$2,399||75%||$1,799.25||9 cr. = $1,354||$445.25|
|6,7,8||$2,399||50%||$1,199.50||6 cr. = $914||$285.50|
|3,4,5||$2,399||25%||$599.75||3 cr. = $482||$117.75|
If the total grant amount shown on the Award Letter does not cover your costs for tuition, fees, and books, then you are receiving partial financial aid. This is the maximum aid for which you are eligible and the Business Office will bill you for the remainder of your charges. If you register for fewer than 12 credits and receive partial aid, your aid will still be pro-rated and the Business Office will bill you the remainder of your charges.
You may be eligible for a financial aid book allowance if you completed the entire financial aid process and registered for classes at least four (4) weeks prior to the bookstore opening.
Generally, students who receive partial financial aid are not eligible for a book allowance. Students will be asked to sign a waiver in the bookstore allowing the Business Office to apply your financial aid to cover your book expenses.
Please note that students who are awarded FSEOG grants or Work-Study and are registered for fewer than 6 credits in a given semester, will not be eligible for those funds.
Financial aid does not cover the cost of any course for which a student registers and never attends. Nor does financial aid cover the costs of auditing a course (AU). If you switch a class to audit, drop all of your classes or fail all of your classes, you will most likely owe back financial aid money and receive a bill.
Withdrawal during the first two weeks of any semester will result in the cancellation of all financial aid. Students will be billed by the Business Office for 50% of their tuition, 100% of fees, and any assessed bookstore charges.
Students who are placed on financial aid suspension are NOT entitled to financial aid. Therefore, a student who receives a Financial Aid Suspension notice after receiving their Award Letter will lose future eligibility.
Withdrawal after the first two weeks of the semester or failure of all classes will make the student's financial aid subject to the Return of Title IV Funds Calculation. With this calculation, students may be responsible for balances owed to the college, as well as the repayment of any excess financial aid that they had received as a refund.