|
|
|
The calculation of the return of Title IV Funds is determined
by the date that the student withdraws, which is:
- The date the student began Roxbury Community
College’s
withdrawal process;
- The date the student officially
notified the institution of intent to withdraw;
- The midpoint
of the enrollment period for a student who leaves without
notify- ing the institution (an unofficial
withdrawal;
- The student’s last date of attendance
at a documented academically related activity.
Title IV aid and all other aid is earned during
the time a student is attending Roxbury Community College.
The percentage
of aid earned is determined by dividing the number of days
a student was enrolled by the number of days in the semester,
up to the 60% point. Return of Title IV funds is no longer
necessary after that point. If the student withdraws from all
courses after the 60% point in the semester, Title IV aid is
viewed as 100% earned. However, if a student withdraws prior
to that 60% point, the student may owe back part of his or
her financial aid if the financial aid office determines the
student has received an amount larger than the earned amount.
The refund policy for state financial aid is the same as the
federal policy, however 100% of state aid is earned at the
50% point. A copy of the worksheet used for this calculation
can be requested from the Roxbury Community College Financial
Aid Office.
The term "Title IV Funds’ includes the following
programs:
- Federal Pell Grant
- Federal Supplemental Educational
Opportunity Grant (SEOG)
In accordance with federal regulations, financial aid
funds are returned and allocated
in the following order:
- Unsubsidized FFEL
- Subsidized FFEL
- FFEL PLUS
- Federal Pell Grant
- Federal SEOG Program
- Other Title IV programs
- Other state, private,
and institutional aid
- The student
Roxbury Community College will also return
any funds necessary to Title IV programs upon completing
the calculation. The student’s
responsibilities in regard to the return of Title IV funds
include repaying to the Title IV or state programs any funds
that were disbursed directly to the student and which the student
was determined
to be ineligible for via the Return of Title IV Funds Calculation.
The procedures and policies listed above supersede those published
previously and are subject to change. Please contact the Financial
Aid Office if you have any questions about the new policy.
|