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Federal Return of Title IV Funds Policy |
Students who
receive Financial Aid are subject to the Federal Return of Title
IV Funds Policy as well. This policy is effective only if a student
completely terminates enrollment by withdrawing from all credits.
Students who remain enrolled through at least 60 percent of the
payment period (quarter) are considered to have earned 100 percent
of the aid received and will not owe a repayment of Federal Title
IV funds. If a student completes at least one course they will be
subject to the Satisfactory Academic Progress policy, rather than
the Return of Title IV Funds Policy. Federal financial aid recipients
are subject to both the Federal policy for Title IV aid and the
Clark College Institutional Refund policy for institutional aid.
A student's withdrawal date is one of the following:
1. The date
the student began the institution's withdrawal process or officially
notified the institution in writing of intent to withdraw
2. The midpoint of the period for a student who leaves without
notifying the institution
3. The student's last date of attendance at a documented academically
related activity
Funds are
returned to the following sources in order of priority, as established
by Congress:
1. Unsubsidized
FFEL Loans
2. Subsidized FFEL Loans
3. FFEL PLUS Loans
4. Federal Pell Grants
5. Federal SEOG
6. Other Title IV assistance for which the return of funds is
required
7. Other federal, state, private or institutional financial assistance
There are six
basic steps to the formula for calculating the amount of funds that
must be returned to the Title IV programs:
1.
Determine date of withdrawal and percentage of payment period attended
by the student
2. Calculate amount of Title IV aid earned by the student
3. Compare amount earned and amounts disbursed to determine amount
unearned
4. If amount earned is greater than amount disbursed, determine
late disbursement
5. If amount earned is less than amount disbursed, determine amount
of Title IV aid must be returned
6. Calculate portion of funds to be returned by institution and
student
Both Clark College
and the student have specific responsibilities under this policy.
Students who owe a repayment due to the Return of Title IV funds
must pay that obligation before regaining eligibility for additional
financial assistance.
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Washington State Need Grant Refund/Repayment Policy |
Students receiving
Washington State Need Grants who then withdraw from all classes prior
to the 60% point in time during the quarter will have their Washington
State Need Grant eligibility reduced to reflect the "Amount of Title
IV Aid Earned by the Student" as determined through the Return of
Title IV Funds calculation.
For example, if a student is eligible
to retain 50% of his/her Title IV aid, and that student received an
$816 disbursement of Washington State Need Grant funds, the student
would be allowed to retain $408 of the Washington State Need Grant
funds for that quarter. Only repayments of $50 or more will be identified.
Students who withdraw from all classes after the 60% point in time
during a quarter are eligible to retain all of their financial aid,
including the Washington State Need Grant.
| Clark
College Tuition Refund Policy |
Students
who officially withdraw through the Registration Office may receive
a refund of tuition and certain fees according to the following
schedules:
For
classes that last at least seven weeks and begin the first week
of the quarter:
- 100% If the
withdrawal occurs during the first five business days (Monday
through Friday) of the quarter.
- 100% If the
class begins on the first Friday evening or the first Saturday
of the quarter, and
withdrawal occurs no later than the close of business on Monday
of the second week of classes.
- 50% If the
withdrawal occurs between the sixth business day and the 20th
calendar day of the quarter.
- 0% If the withdrawal occurs after the 20th calendar day.
For classes
that do not begin the first week of the quarter, last less than seven
weeks, but have more than five class sessions:
- 100% If the
withdrawal occurs before the second class session.
- 50% If the
withdrawal occurs after the second class session but before the
fourth class session.
For classes
with a total of five class sessions:
- 100% If the
withdrawal occurs before the second class session.
- 50% If the
withdrawal occurs after the second class session but before the
third class session.
For classes
with a total of three or four class sessions:
- 100% If the
withdrawal occurs before the first class session.
- 0% All other
cases.
For classes with one class session:
- 100% If the
withdrawal occurs before the first class session.
- 0% All other
cases.
There is an
automatic 100% refund for classes that are canceled by the college.
The student will owe differences between the Clark College
Refund Policy and the Federal Return of Title IV Funds Policy to
the College.
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