Return/Repayment of Title IV Funds Policy
Federal Title IV student aid is provided to assist students to pay for part or all of the expenses relating to their attendance at the College. Should a student cease to be enrolled for classes or stop attending, the College is required by federal law to determine whether or not any of the aid provided to the student must be returned by the College or REPAID BY THE STUDENT to the programs from which the aid came.
Excess Financial Aid
• You may qualify for more aid than what is required to pay your tuition bill.
• You may use excess financial aid to charge books at the campus bookstore beginning the Tuesday before the first day of classes. You will be required to pay for any charges which surpass the amount of your excess aid. Aid amounts can change, even after books are purchased.
• What is left of your aid after tuition and bookstore charges have been deducted will be refunded to you. However, because individual aid and enrollment circumstances vary widely, it is difficult to determine:
1) when a refund will be made,
2) if a student will receive their entire refund in one disbursement, and
3) the dollar amount of a particular refund. It is certain that by the end of the semester, everything a student is eligible to receive will have been disbursed. Important note: This means that you cannot rely on having a refund at a particular time and should not tell creditors that you will be able to pay a bill with a financial aid refund on a particular date.
• Refunds are made beginning the fifth week of the semester by direct deposit and the sixth week of the semester for paper checks by postal mail. Refunds continue to be made each Tuesday thereafter.
• Sign up for direct deposit on MyNC early in the term. Direct deposit gets you your money faster, and it’s safer. • If aid does not pay for all of your tuition charges, payment of the remaining balance is to be made to the College cashier’s office. The cashier can set up a payment plan for you.
The last date of academically related activity that a student participated in is used as the withdrawal date.