Return of Federal Funds

 

Financial aid recipients who officially withdraw from all their classes or cease attendance without notifying the school may be required to repay a portion of the federal funds they received for that term. This is determined on a pro-rata basis by multiplying the percentage of the term not attended by the Title IV aid received. Federal regulations specify the calculation used to determine if and how much repayment is required. If a student attended more than 60% of the term, no return of funds will be required. After the amount of Title IV aid to be returned is calculated, a determination of how much must be returned by the institution and how much must be returned by the student will be made. If a student owes a repayment, it will be applied to the following programs, in this order:

  1. Unsubsidized Federal Direct Loan
  2. Subsidized Federal Direct Loan
  3. Federal PLUS Loan
  4. Federal Pell Grant
  5. Federal Supplemental Educational Opportunity Grant
  6. Other federal aid programs

Any loan funds required to be returned must be repaid by the student in accordance with the terms of the promissory note. Any amount of unearned grant funds that must be returned is considered an overpayment. The maximum amount of grant overpayment is half of the grant funds received or scheduled to be received.

Any return of Title IV funds required by the student must be paid prior to receiving additional financial aid at WNCC or any other institution. Any funds returned by WNCC on the student's behalf must be repaid by the student to WNCC prior to attempting to register for subsequent terms.

The requirements for Title IV program funds are separate from WNCC's refund policy. Therefore, students may still owe funds to WNCC for unpaid institutional charges.

Additional details regarding this policy are available from the Financial Aid Office.