The college must return a portion of Title IV funds received for aid recipients withdrawing from the college prior to the 60% point of the semester. The amount refunded shall be the amount defined by the federal statutes or the state refund policy, whichever is larger. Return of Title IV funds, as calculated by the Financial Aid Office, will be credited back in the following order:
- Federal Pell Grant Program
- Federal SEOG Program
- NCSIG Program
- NCCCG Program
- Scholarship Program, and
Students who change enrollment status during the regular “drop/add” period will have the amount of their federal Pell Grant adjusted by the Financial Aid Office and any unearned aid will go back to the Pell Grant account. For students who drop after the “drop/add” period but during the refund period, the Pell Grant is not adjusted but any unearned aid is returned to the Pell Grant account. If this represents a withdrawal, students may lose eligibility to receive federal Pell Grant funds for the next semester of enrollment. Students would owe a return of Title IV funds to the Pell Grant account, other than the refunded amount, if the students did not attend classes and/or did not officially withdraw from the college through the Registrar’s Office and the Financial Aid Office.
Students who withdraw from the college will owe a return of Title IV funds back to the federal Pell Grant. The procedure to calculate the refund amount, if any, will be used as outlined in the Federal Student Financial Aid Handbook.
If students use Title IV funds to register for a course(s) but do not attend, the college is required by federal law to return all tuition and fees to the appropriate financial aid program.
Students who owe a return to any Title IV program will be notified in writing by the Financial Aid Office. Students who fail to repay as directed by the Financial Aid Office, will not be allowed to register until the account has been settled. Students not making repayment by the end of the academic year (June 30), will be referred to the U.S. Department of Education (if Title IV funds are involved) or to the N.C. Department of Revenue.