If a student receiving federal Title IV funds completely terminates enrollment (i.e. begins the official withdrawal process) or ceases to attend classes (unofficially withdraws) before the end of a payment period, then a recalculation of Federal Financial Aid is required by federal regulations to determine earned and unearned portions of Title IV aid (Pell Grant and/or Federal Supplemental Educational Opportunity Grant (FSEOG)).
A student may officially withdraw from Mesalands Community College by completing a Withdrawal Form obtained from the Student Affairs Office. The student must complete and sign the form. The form must also be signed by an advisor, the Financial Aid Office and by the College’s Cashier (located at the Business Office). The form should then turned into Student Affairs for processing. This process must be completed by the published withdrawal deadline on the Institutional Calendar which may be found in the College Catalog or current Course Schedule. A copy of the form is sent to Financial Aid, the instructor, and the Cashier’s Window for notification. The date of withdrawal will be recorded as the date the form is processed by Student Affairs.
Up through the 60 percent point in the payment period, a pro-rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. The amount of Title IV aid earned or unearned is determined by using the Return of Title IV Funds software provided by the U.S. Department of Education. All calculations are based on credit hour term programs.
After the 60 percent point in the payment period, a student will have earned 100 percent of the Title IV funds he or she was scheduled to receive during the period. There are no unearned funds for a student who withdraws after the 60 percent point.
The 50 percent point of the payment period will be used for the calculation for students who unofficially withdraw. If a student can prove that he or she attended an academic class after this point, the provided date will be used in the calculation.
Letters are mailed to students to notify them that a recalculation has been performed. Any remaining amount due to the school and/or the United States Department of Education are included in the letter. A copy of the letter, along with recalculation worksheets and withdrawal information, is placed in the student’s financial aid file. This is completed by the Student Affairs Office.
The unearned aid portion due from the College is returned within 45 days of the determination of withdrawal date. The unearned aid will first be returned to the Pell Grant fund, followed by FSEOG. The earned portion of the awards will be posted to the student’s account, thus reflecting the new amount owed. Students will be billed for the amount owed to the Title IV programs as well as any amount due the College resulting from the return of Title IV funds used to cover College charges.
If a student has a credit balance post calculation, they will be notified that they must pick up their check from the Business Office.