Return of Title IV Funds

Students who withdraw from all classes prior to completing more than 60 percent of the semester will have their eligibility for financial aid recalculated which may require a portion of the federal aid to be repaid for the semester. This policy applies to all students who receive Title IV funds (Federal Financial Aid) and includes faculty-initiated withdrawals and suspensions from Sampson Community College. Students who maintain enrollment after the 60 percent point of the semester are considered to have earned 100 percent of the financial aid they were awarded and will not owe money. If a student enrolls in a combination of 8-week and/or 16-week courses, completing 8-week course does not waive a student from being calculated as a Return to Title IV.

When a student withdraws during a semester, the amount of Title IV assistance (Federal Pell Grant) earned up to the date of withdrawal is determined by a formula specified by 34 CRF part 668.22. If the student received less assistance than the amount earned, a disbursement may be made after withdrawal. If the student received more assistance than earned, the excess funds must be returned.

If there are funds that must be returned, the College must return a portion equal to the lesser of institutional charges multiplied by the unearned percentage of funds or the entire amount of the excess funds. If the College is not required to return all of the excess funds, the student must return 50 percent of the remaining amount. Students are responsible for paying the outstanding balance after the Title IV calculation has been determined. The Finance Office will place a hold on the students’ accounts. Students will not be allowed to register for classes or receive a transcript until the outstanding balance is paid in full.

This policy is not the same as the Sampson Community College refund policy.