2010 Catalog - Delaware County Community College

FINANCIAL AID 17
Refund to Federal Programs When the Student Withdraws
The Higher Education Amendments of 1998, Public Law 105-244 creates a
formula to determine the amount of Federal Student Financial Aid (SFA) Funds
a student has earned when he or she completely ceases attendance without
finishing the payment period (semester or summer term) for which the funds
were awarded. Federal SFA funds are: the Federal Pell Grant, Federal SEOG
Program, Academic Competitiveness Grant (ACG), Federal Work/Study
Program, and the Stafford Loan Program. Up through the 60% point in each
payment period, this formula (see “amount of federal student assistance
earned” below) is used to determine how much federal financial assistance the
student has earned at the time of withdrawal. After the 60% point in the
payment period, a student is considered to have earned 100% of the federal
financial aid program funds.
This schedule applies only to the amount of SFA funds that a student, who
withdraws from all courses they enrolled in during any payment period, may
keep. The schedule does not apply to how much the College may charge for
these courses.
The student’s withdrawal date shall be:
• The date the student began the College’s official withdrawal process, or
• The date the College registrar received official notification from the student
of her/his intent to withdraw. This can be in the form of a letter from the
student, or another individual with written authorization from the student.
• Or if the student does not follow the College’s official withdrawal process
nor provide satisfactory official notification of withdrawal, then the date of
withdrawal shall be set as the mid-point of the payment period.
The calculation of amount of federal SFA assistance earned shall be:
• If the student’s withdrawal date is on or before the 60% point of the
payment period for which financial assistance was awarded, the
percentage of total SFA earned is equal to the percentage of the payment
period that was completed.
• If the day the student’s withdrawal date occurs after the student has
completed 60% of the payment period, the percentage earned is 100%.
The amount not earned (the complement of the percentage earned) must be
returned to the U.S. Department of Education..
The calculation of the percentage of the payment period
completed shall be:
• Total number of calendar days in the payment period for which the
assistance is awarded divided into the number of calendar days completed
as of the day the student withdrew.
The calculation to determine who pays the repayment:
• If the student has not received a refund of SFA funds, the College repays
the entire amount due.
• If the student has received SFA funds, the College must repay the lesser of:
1. The full amount of the unearned funds or
2. The total institutional charges multiplied by the “unearned percentage.
The student pays the remainder.
Order of the return of SFA funds:
• Unsubsidized Stafford Loan
• Subsidized Stafford Loan
• Federal Pell Grant
• Academic Competitiveness Grant
• Federal Supplemental Educational Opportunity Grant
Leave of Absence Policy
Delaware County Community College does not permit students to take an
extended leave of absence during a semester. If a student experiences a
sudden, unforeseen circumstance making it temporarily impossible for her/him
to continue her/his studies during a particular semester, that student must
formally withdraw from the College for that semester through the Student
Records Office. If the student is unable to come to the Student Records Office,
the student’s parent or spouse may initiate the withdrawal with written
authorization from the student.
Timing of the withdrawal will affect the amount of charges/refund accessed
by the College and may affect the amount of federal Title IV financial aid that
the student will be able to retain. See the section of the college catalog titled
“Tuition and Fees” for further details.
Financial Aid Programs
NEED BASED PROGRAMS
Federal Pell Grant
A Federal Pell Grant does not have to be repaid. Pell Grants are awarded only
to undergraduate students who have not earned a bachelor’s degree. To
determine if a student is eligible financially, the U.S. Department of Education
uses a standard formula, established by Congress, to evaluate the information
you report on your FAFSA. The formula produces an Expected Family
Contribution (EFC) number. The Student Aid Report (SAR) contains this
number, in the upper right portion of page 1, and will tell you if you’re eligible
for a Pell Grant; Delaware County Community College will tell you the amount
you are eligible for on your award notification. Grants for the 2007-2008
award year (July 1, 2007 to June 30, 2008) will be between $200 and
$4,050. You can receive only one Pell Grant in an award year. How much you
get will depend on your EFC, on your cost of attendance, whether you’re a fulltime
or part-time student, and whether you attend school for a full academic
year or less. You may not receive Pell Grant funds from more than one school
at a time. The College will credit the Pell Grant funds to your tuition account.
Your Award Letter will tell you when your grant will be paid and how much
your award will be. If you’re otherwise eligible, you may receive a Pell Grant
by enrolling less than half-time (3 to 5 credits); however, you won’t receive as
much as if you were enrolled full time.
Federal SEOG Program
A Federal Supplemental Educational Opportunity Grant (FSEOG) is for
undergraduates with exceptional financial need–that is, students with the
highest demonstrated need–and gives priority to students who receive Federal
Pell Grants. An FSEOG doesn’t have to be paid back. The U.S. Department of
Education guarantees that each participating school will receive enough money
to pay the Federal Pell Grants of its eligible students. There’s no guarantee
every eligible student will be able to receive a FSEOG; students at the College
may be awarded an FSEOG based on the availability of funds. FSEOG awards
will be between $100 and $500 a year, depending on when you apply, your
level of need, the availability of funds and our awarding policies. When all the
conditions of the award are met, the Financial Aid Office will credit your account.
Federal Work/Study Program
The Federal Work-Study Program provides jobs for students with financial
need, allowing them to earn money to help pay education expenses. The
program encourages community service work and work related to your course
of study. Your Federal Work-Study wages will be at least the current federal
minimum wage, but in most jobs at the College it will be higher. Your total
Federal Work-Study award depends on when you apply, your level of need,
and the funding level at the College. Student/Workers will be paid by the hour
on a bi-weekly basis. Your Federal Work/Study job may be on campus or off
campus. If you work off campus, your employer will usually be a private
nonprofit organization or a public agency, and the work performed must be in
the public interest. The amount you earn can’t exceed your total Federal Work-
Study award. When accepting work hours you should consider your class
schedule and your academic progress as well as your financial need.