Return of Federal Title IV Funds Policy

The Higher Education Amendments of 1998, Public Law 105-244 require colleges to calculate the Return of Title IV Funds Policy when a recipient of Title IV aid (new or returning) completely withdraws from the college through the 60% point during a payment period. The institution must calculate the amount(s) of Title IV aid the student earned and return the unearned portion(s) of the Title IV fund(s) to the Title IV program(s). In some calculations, the institution and student will be required to return unearned Title IV funds to the Title IV programs. Federal financial aid at Haywood Community College includes: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant and/or Federal Loans. Students receiving federal aid will be required to repay a portion of that aid if they withdraw from all classes prior to the 60% point of the semester. This policy is not the same as the Haywood Community College’s refund policy.

Financial aid is awarded to students contingent upon completion of the semester. Federal financial aid recipients who withdraw from class, stop attending, drop out, or are dismissed/suspended from class prior to completing 60% of the semester may owe back a portion of their financial he/she received. R2T4 calculations are based on the date the student officially began the withdrawal process or in the case of an unofficial withdrawal, the student’s last date of recorded attendance and/or class participation. The student will be sent a letter within 30 days detailing any amounts due to HCC and/or to the United States Department of Education. Students will not be allowed to register in courses or receive an official transcript until his/her account is cleared. If a student owes money to the Department of Education, the student must repay the amount or make satisfactory payment arrangements with the Department of Education to remain eligible for federal financial aid. Students are given 45 days from the date of notification to make payment arrangements. After the 45-day period, HCC will follow the Collection of Accounts Receivable procedure.

 

This page was last modified on Sunday, January 05, 2014 at 10:58 PM