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  Financial Aid

Return of Funds Policy

 
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Financial Aid Eligibility

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Satisfactory Academic Progress Requirements

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Return of Funds Policy

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Students who drop or withdraw from classes will have their tuition accounts adjusted according to the College’s regular tuition refund policy. If a student finds it necessary to drop or withdraw during the semester, they should notify the Registration and Cashier’s Office to process the necessary drop/withdrawal paperwork.

Federal aid recipients who withdraw from ALL classes before they complete 60% of the semester (week 8 for fall and winter and week 5 for summer and spring) may have to repay a prorated portion of the federal aid they received. In order to receive funds from any aid programs, a student must attend their enrolled classes which are also used to compute their aid eligibility. If a student withdraws or stops attending ALL their enrolled classes, they may be responsible for a portion of the charges they have incurred, which is calculated based on the last date of attendance reported for the student. Students who withdraw or stop attending ALL classes prior to completing the 60% point of the semester (week 8 for fall and winter and week 5 for summer and spring), will have their aid eligibility recalculated based on the percentage of the term they have completed. For example, if a student withdraws from all their classes, completing only 30% of the semester, they will have earned only 30% of any Title IV aid they have received. Title IV aid includes Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, and Federal Subsidized and Unsubsidized Loans. The school and/or the student must return the remaining 70% of aid to the federal government or lender. If a student is considering withdrawing or chooses to stop attending ALL their classes PRIOR to completing 60% of the semester, they may have to repay any unearned financial aid funds that were disbursed to their student account. Once 60% of the semester has been completed they have earned all of their aid.

Any drop or withdrawal of classes could affect consideration for future financial aid due to Satisfactory Academic Progress (SAP) standards or review of academic history for loan consideration. Please see the SAP requirements at http://www.mcc.edu/6_finaid/fa_academic.shtml.

 
 
 
 
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