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2441 Kenwood Circle, Mansfield, Ohio 44906 • 419-755-4800 • 888-755-4899
 

 

 

 

 

 

 

 

 

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.

  • This policy is effective for all students to whom Title IV funds are disbursed for attendance at the college, but who cease to be enrolled for all classes or fail all their classes due to lack of attendance prior to the sixty per cent (60%) point of the quarter for which the funds are disbursed.  

    NO return is required if the student's last date of attendance is after the 60% point of the term.  A student withdrawing after the 60% point will have earned all his/her aid for the term and will not be required to return any funds.
  • The determination of the amount to be returned is based upon a percentage of the Title IV funds disbursed. The percentage is derived by dividing the number of calendar days in the term that the student was enrolled (from the first day of classes up to and including the last date of attendance) by the total number of calendar days in the term.  A copy of the worksheet used to determine the amount to be returned may be obtained from the  Financial Aid Office.  

  • Returns are made in the following order:  Unsubsidized Federal Stafford Loans, Subsidized Federal Stafford Loans, Federal PLUS Loans, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, other Title IV aid.  

  •  Responsibilities regarding the return of Title IV funds:

    1. The College is responsible for:
      1. Providing each student with a copy of this policy
      2. Identifying students who are affected by this policy
      3. Determining the amount of Title IV funds to be returned
      4. Returning to the Title IV programs any funds they are due
    2. A student affected by this policy is responsible for paying to the College the amount of any Title IV funds disbursed to him/her which are required to be returned.
  • Financial aid recipients are strongly encouraged to consult with their financial aid advisor regarding the ramifications of withdrawal prior to dropping all classes.  

  • A student wanting to withdraw must contact the Student Records Office.  He/she must complete an official withdrawal form and obtain all required signatures.  The withdrawal becomes official on the day that the processing of the withdrawal request is complete and is recorded by the Student Records Office.

  • The College will notify the student of the amount he/she is required to repay within 30 days of the withdrawal date.

  • The student will, within 45 days of the date that the college mails him/her notification that repayment is required, pay  the amount owed or make repayment arrangements acceptable to the College. Should this not occur, the repayment    obligation will be reported to the Attorney General of the State of Ohio. The Attorney General will use all methods granted by law--including wage garnishment, state income tax refund seizure, and credit bureau reporting—to collect the funds owed.

A student owing a repayment of Title IV funds is INELIGIBLE for any Federal financial aid at ANY college and MAY NOT enroll at ANY college until repayment is made.

 

 

 

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.

 

 

 

 

 

 

 

 

 

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2441 Kenwood Circle
Mansfield, Ohio 44906
419-755-4800
888-755-4899

 

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