Return of Financial Aid Funds Policy

Return of Financial Aid Funds Policy

Student financial aid recipients who officially or unofficially withdraw before completing the quarter of enrollment will owe a repayment of unearned federal Title IV or state financial aid funds. Financial aid is considered to be fully earned when a student attends, or otherwise academically participates in, one or more enrolled classes for at least 60 percent of the quarter for federal Title IV aid and 50 percent for state aid. If a student ceases attendance or participation in all classes prior to the 60 percent or 50 percent point in the quarter, the Financial Aid Office will calculate, using federal and state pro rata schedules respectively, how much aid was earned vs. unearned. The unearned portions of aid must be returned and the student will be notified regarding any repayment owed.

Financial aid recipients who do not officially withdraw and earn zero credits with a 0.0 grade point average will be assumed to have unofficially withdrawn. Instructors will provide the student’s estimated last date of attendance when posting a 0.0 grade. If none of the student’s estimated last dates of attendance exceed the 60 percent (federal) or 50 percent (state) timeframe for the quarter, then the return of funds calculation will be performed using the midpoint of the quarter as the last date of attendance.

The order of the return of funds is as follows for federal Title IV aid: Direct Unsubsidized Loan, Direct Subsidized Loan, Direct Parent PLUS Loan, Pell Grant, Supplemental Educational Opportunity Grant (SEOG), other Title IV assistance. A separate calculation following similar logic is done for state aid (WA State Need Grant and College Bound Scholarship).

The CBC Tuition Refund Policy will apply if you officially withdraw before completing your quarter of attendance.

contact

Picture of student using computer