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Student Financial Aid Refund Policy

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Financial Aid State Refund Calculation

Financial Aid Federal Refund Calculation

  • Drops before first day of the term equals 100% refund
  • Withdraws on or before the 60% point of the module, student may owe an overpayment to CCC and/or the Department of Education.
  • Withdraws after the 60% point of the module, student has earned 100% of financial assistance and does not owe any overpayment.

There are five steps that need to be followed in determining a refund or overpayment:

  1. Determine the percentage of the module the student attended before withdrawing.
  2. Determine the amount of Title IV aid earned by the student based on the percentage of time of enrollment.
  3. Compare the amount earned by the student to the amount disbursed or could have been disbursed to the student. If less aid was disbursed than was earned, the student may receive a post-withdrawal disbursement for the difference. If more aid was disbursed than was earned, determine the amount of Title IV aid that must be returned to the Department of Education.
  4. Allocate the responsibility for returning the unearned aid between the school (CCC) and the student.
  5. Distribute the unearned aid back to the Title IV programs either by the institution or the student.

The amount of assistance a student earns is calculated on a pro-rata basis. For example, if a student completed 40% of the module, the student would have earned 40% of the financial assistance they were scheduled to receive.

Program funds included in the federal refund calculation are:

  • Federal Pell Grant
  • Iraq and Afghanistan Service Grant

Funds are returned in the above order.

Each student who owes an overpayment to the Department of Education will be notified by mail within 30 days of the determination of withdrawal date. Students have 45 days after the student last attended to repay the funds to the institution or Department of Education. If payment is not received within 45 days, the overpayment will be referred to the Department of Education for collection. The school will return the amount of Title IV funds for which it is responsible no later than 45 days after the date of determination.

If a student has an overpayment (monies that must be paid back) and fails to repay that amount to the institution and/or Department of Education, the student loses eligibility for all Title IV program funds. The only way to regain eligibility is to make satisfactory arrangements with the institution and/or Department of Education.

All institutional charges will be subject to the refund policy. These charges include tuition, fees, equipment, books, or supplies issued to the student. The only excludable costs of institutional charges are the documented cost of un-returnable equipment, and documented cost of returnable equipment if not returned in good condition within 20 days of the students’ withdrawal. That is to say, students who purchased equipment/books/supplies from financial aid sources must return the items in good condition to the Financial Aid Office within 20 days of withdrawal.

In addition to receiving a notification from the Financial Aid Office concerning an overpayment to the Department of Education, a student may also receive notification from the Business Office at CCC concerning payments owed to the College. Students may owe the College additional funds if financial assistance was used in paying for tuition, fees, equipment, books, or supplies during the semester the student withdrew from all classes.