Financial Aid recipients must adhere to the Satisfactory Academic Progress policy. Please click here to review the policy.
Please read the following information carefully.
Return of Title IV Funds
The college maintains a fair and equitable refund policy as mandated by the US Department of Education regulations. These refund and repayment rules only apply to students who withdraw completely and/or otherwise fail to complete the current period of enrollment.
Federal Title IV Regulations require a calculation for the return of Title IV Funds which are not earned by the student in that semester. This regulation requires the college to determine the amount of return through the following calculation:
- Official date of withdrawal;
- Unofficial date of withdrawal (50% of semester).
- Total number of days in the semester;
- Percentage of Title IV funds earned and unearned, and;
- Amount of funds to be returned by the student.
The college will notify the student within 30 days of the determination of return of funds. The student has 45 days to retain Title IV eligibility by returning the amount in full or making satisfactory arrangements to repay the funds to the US Department of Education. Failure of the student to do either within the 45 days obligates the college to report the overpayment to the US Department of Education. Afterwards, the student will lose eligibility for Title IV funds on the 46th day.
The student must return the unearned funds for which they are responsible to grant programs in accordance with the terms of the grant programs as an overpayment. Grant overpayments are subject to repayment arrangements satisfactory to the school, or overpayment collection procedures prescribed by the Secretary of the Department of Education.
Order of Return of Student Financial Aid Program Funds
Funds credited to outstanding grant balances for the payment period of period of enrollment, for which a return of funds is required, must be returned in the following order (not to exceed the original enrollment from each source)
- Federal Pell Grants for the payment period for which a return of funds is required.
- Federal Supplemental Educational Opportunity Grants (FSEOG) for the payment period for which a return of funds is required
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 College or 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 QVCC Grant (CCG), 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.
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 during the semester will make the student's financial aid subject to the Return of Title IV Funds Calculation. All Fs may result in a students financial aid being 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.