Students will receive a credit balance once all charges have been covered by their financial awards, i.e. Pell, Grants, Loan, or Scholarships.
A credit balance results when the total of the credits posted to a student’s account (e.g., payments, loan disbursements, scholarships, etc.) exceeds the total of the charges applied or applicable to the account for a specific term or semester.
A credit balance eligible for a refund is one where all the applicable charges and credits have been posted to the account and his or her eligibility for such funds has been reviewed and confirmed or adjusted based on current eligibility, enrollment or any other applicable conditions.
Anticipated funds, including anticipated financial aid, are not considered credits to a student’s account until the funds have actually been disbursed to the account.
Accounts of students on a Payment Plan are not eligible for a refund unless the Payment Plan has been completed and paid in full, and payments exceed the applicable charges.
All awards are based on full-time enrollment status. If not enrolled full-time at the time of disbursement, your awards will be decreased/adjusted to the amount appropriate for the hours you are currently attending. Your disbursement will be based on your actual registered hours as well as your actual housing arrangements at the end of the second week of the term.
If you are enrolled in 2nd 8 weeks course/s you will not receive the portion of the disbursement for those hours until after add/drop for 2nd 8 week courses. Add/Drop for 2nd 8 week courses typically last one week, therefore funds would be disbursed for those classes the following week.
If the student doesnt begin attendance in all of his or her classes, resulting in a change in the students enrollment status, you must recalculate the students award based on the lower enrollment status. Federal Student Aid Handbook July 2016, pg. 3-67
If you do not begin attendance in all courses for which you are enrolled, or fail to receive a passing grade in all courses you may be required to repay all or a portion of the federal student aid/loans you receive.
Financial aid recipients who withdraw may be expected to repay a certain portion of their awards.