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Return of Federal Financial Aid

If a student withdraws or is dismissed from Carthage Technical Center, the school or the student may be required to return some of the federal funds awarded to the student. The student may also be eligible for a refund of a portion of the tuition and fees paid to CTC for the semester. If the student received financial assistance other than federal funds, a portion of the refund will be returned to the grant or loan program from which the assistance was received. Refunds to all Title IV recipients (Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, and Federal Stafford Loans) who withdraw during an enrollment period for which they have been charged will be identified and processed to comply with federal regulations. If a student withdraws (or stops attending classes) from the college at any time during the semester, the student may be required to repay a portion of the grant aid received. The amount of repayment due is calculated based on the student’s withdrawal date. Repayments from students shall be returned to the programs from which the student received funds, as specified by the Department of Education. If a student wishes to withdraw, the student should contact Student Services and complete a withdrawal form to begin the withdrawal process. This procedure will enable CTC to properly calculate a refund in order to refund the maximum possible institutional charges. The date used when calculating the refund will be the date of withdrawal documented by Student Services. The exception would be in instances when the student’s last documented date of attendance was considerably earlier than the withdrawal date.

 

If required, it is recommended that all items needed for verification be turned in at the time of withdrawal but no later than fourteen calendar days from the date of the withdrawal. Submitted documents received will be reviewed and eligible student aid awarded.
All students who enroll and are federal financial aid recipients must attend all classes for which they are originally enrolled.  Dropping classes could result in a repayment obligation.  If you fail to attend one or more of your classes and do not officially withdraw, you may still be required to repay some or all of your financial aid. If you stop attending all of your classes before completing at least 60% of the semester, you will probably owe money back to the federal financial aid program(s). Repayment is made to federal programs based on the Department of Education Return of Title IV funds formula.

 

The following example illustrates how the policy would apply: A student withdraws on the thirteenth day of a 121-day calendar semester. For example, if the student’s original tuition and lab fees are $1,160.00 and the student has a $1,313.00 student loan and $1,875.00 Pell Grant. Under the “Return of Title IV Funds” Policy, the school would return $1,313.00 to the student loan program and the student earned $342.00 of the Pell Grant. Refunds due to financial aid programs will be made in proportion to the amounts received by the program.  Refunds for the financial aid programs, if applicable, will be returned to the United States Department of Education or to the lender.