Return of Title IV Funds

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Treatment of Financial Aid for Complete Withdrawal
A Return of Title IV Funds calculation is processed for a student who meets the following conditions: receives grant funds (or who meets the conditions that may entitle the student to a late disbursement), begins attending classes, and completely withdraws from the term. The Return of Title IV Funds calculation is a policy of the United States Department of Education that determines the number of grant funds WCCS and/or the student are to return to a grant program. The term “Title IV Funds” refers to the Federal Financial Aid Programs authorized under the Higher Education Act of 1965 (as amended) that at WCCS include the following programs: Federal Pell Grants and Federal Supplemental Opportunity Grants (FSEOG).

The student’s recalculated grant award amount is used in the Return of Title IV Funds calculation. The percentage of Title IV aid earned is found by dividing the number of calendar days completed by the time of withdrawal date by the number of calendar days in the term. If the student has completed more than 60% of the term, the student is considered to have earned 100% of the Title IV aid. The amount of Title IV aid earned is found by multiplying the amount of aid disbursed for the term plus what could have been disbursed by the percentage of Title IV aid earned. If the amount earned is less than the amount of aid disbursed, the difference must be returned. If the student earned more than what was disbursed, a late disbursement may be due. If the amount earned equals the amount disbursed, no return and no disbursement are to be made.

WCCS returns the lesser of (a) the total amount of unearned aid or (b) an amount equal to the student’s institutional charges multiplied by the percentage of aid unearned. The student is billed for funds returned by WCCS. The amount of aid WCCS is to return is then subtracted from the amount of Title IV aid to be returned to find the initial amount of unearned Title IV aid for the student to return. The total of Title IV grant that was disbursed and could have been disbursed for the payment period is multiplied by 50% to find the amount of Title IV grant protected. The amount of Title IV grant protected is subtracted from the initial amount of unearned Title IV aid for the student to return in order to find the amount of Title IV grant funds for the student to return. In the event of an overpayment, WCCS notifies the student, and the student must pay the Business Office.

Treatment of Financial Aid if a Student Stops Attending Classes or Earns No Passing Grades in a Term
A Return of Title IV Funds calculation is processed for a student who meets the following conditions: receives grant funds (or who meets the conditions that may entitle the student to a late disbursement), begins attending classes, and stops attending classes or earns no passing grades in a term. The Return of Title IV Funds calculation is described in the previous section “Treatment of Financial Aid for Complete Withdrawal.”

  1. At the midpoint, the college requires instructors to submit the names of students who have ceased to perform any academic-related activity. A correspondence is forwarded to those students who ceased attending recommending completion of the course or official withdrawal from the course to circumvent damaging GPA.  
     
  2. At the end of the semester, the determined withdrawal date for students who unofficially withdraw is calculated by the last date of attendance reported by the instructor. The instructor who assigns a final letter grade of “F” is required to provide a Last Date of Attendance (LDA) for each student when posting grades.  The LDA will be used to complete the Return of Title IV calculations.  

Refund for Alabama National Guard and Reservists called to Active Duty
Students who are active members of the Alabama National Guard or reservists who are called to active duty in time of national crisis shall receive a full tuition refund at the time of withdrawal if such student is unable to complete the term due to active duty orders or assignment to another location.

RETURNS & REFUNDS

 

  • TEXTBOOKS
    • A full refund will be given in its original form of payment if textbooks are returned during the first week of classes with original receipt.
    • With proof of a schedule change and the original receipt, a full refund will be given in its original form of payment during the first 30 days of classes.
    • No refunds on unwrapped loose-leaf books or shrink-wrapped titles which do not have the wrapping intact.
    • No refunds on Digital content once accessed.
    • Textbooks must be in original condition.
    • No refunds or exchanges without original receipt.
  • GENERAL READING BOOKS, NOOK® DEVICES, SOFTWARE, AUDIO, VIDEO, AND SMALL ELECTRONICS
    • A full refund will be given in your original form of payment if merchandise is returned within 14 days of purchase with original receipt in original packaging.
    • Opened software, audio books, DVDs, CDs, music, and small electronics may not be returned. They can be exchanged for the same item if defective.
    • Merchandise must be in original condition.
    • No refunds or exchanges without original receipt.
  • ALL OTHER MERCHANDISE
    • A full refund will be given in your original form of payment with an original receipt.
    • Without a receipt, a store credit will be issued at the current selling price.
    • Cash back on merchandise credits or gift cards will not exceed $1.00.
    • No refunds on gift cards, prepaid cards, phone cards, newspapers, or magazines.
    • Merchandise must be in original condition.

 

Return of Unearned Aid—Responsibility of the College
The College must return the lesser of the amount of Title IV funds that are not earned by the student; or the number of institutional charges that the student incurred for the payment period multiplied by the percentage of funds that was not earned. The percentage not earned is determined by subtracting the percentage of Title IV aid earned from 100%. Because of this requirement by the United States Department of Education, the College Refund Policy does not apply to students who receive Title IV assistance. If a student receives a Pell and/or SEOG grant, regardless of who actually paid the tuition and fees, the return or refund created by the withdrawal according to provisions will be made to the Pell and/or SEOG grant programs subject to the maximum amount of the award for the payment period. Therefore, no sponsoring agency that pays tuition and fees (for a student who receives Pell and/or SEOG grants) will receive a refund if the student withdraws from the College until all monies due the Pell and/or SEOG grant programs have been returned.

Return of Unearned Aid—Responsibility of the Student
The student will be held responsible for all unearned grant aid that the College is required to repay to the United States Department of Education. The initial amount of unearned Federal Student Aid due from the student is determined by subtracting the amount returned by the College from the total amount of unearned Title IV funds to be returned. This is called the initial amount due from the student. The amount of grant overpayment due from a student is limited to the amount by which the original grant overpayment exceeds half of the total Title IV grant funds disbursed and could have been disbursed to the student. If a student completely withdraws or ceases to attend all classes before completing 60% of any term and has received Pell and/or SEOG grant funds— whether by check or charged tuition, fees, or books—and the College has to return any funds paid on behalf of the student, the student is responsible for repaying funds to the College.

TREATMENT OF OFFICIAL AND UNOFFICIALLY WITHDRAWAL DATE
The College follows United States Department of Education guidelines for the return of unearned aid. If the College has disbursed more aid than the student has earned, the money is returned within 45 days from the date of determination for official withdrawals and 30 days from the end of the payment period for unofficial withdrawals.  If the College has disbursed less aid than the student has earned, a post-withdrawal disbursement will be calculated.  

Once a student begins and completes the official withdrawal process, official notification is provided to the Financial Aid Office.  If required, an R2T4 is calculated. If a student has been disbursed more aid than earned, the student receives notification, and the college returns funds with the time frame for returns.  

Treatment of Post withdrawal disbursement
George Corley Wallace State Community College does not participate in loans.

When George Corley Wallace State Community College determines that the total amount of the Title IV aid disbursed is less than the Title IV aid earned at the time of withdrawal, the student is notified within 30 days and a post-withdrawal disbursement is calculated.   The difference between the two amounts will be treated as a post-withdrawal disbursement. The College will automatically credit the student’s account with a late disbursement of Pell Grant and any other funds for current institutional charges (Tuition and fees).  Excess funds will be refunded to the student.  The post-withdrawal disbursement will be made within 45 days.  If the amount earned equals the amount disbursed, no return or disbursement with be made.