Untitled - Bellin College

BELLIN COLLEGE CATALOG2011-12student’s withdrawal date in accordance with Section 668.22 (e) of the Higher Education Act. If the totalamount of aid that the student earned is less than the amount of assistance that was disbursed to the student(or to the parents on behalf of the student), the difference must be returned to the aid programs from whichthey originated in accordance with Section 668.22 (g), (h), and (i). The student is not eligible to receive anyadditional disbursements of aid, if applicable, for that term of enrollment.Bellin College will return (within 30 days of the College’s determination that the student withdrew) unearnedaid on behalf of the student up to the amount of refunded tuition and fees charges paid by the student or onthe student’s behalf. Any additional aid returns become the responsibility of the student. Under federalregulations, any student who fails to return federal funds as required will remain ineligible for further federalfinancial aid until the total amount of funds has been returned or the student enters into an agreement withBellin College or the U.S. Department of Education Secretary to repay the unearned aid. No return of financialaid funds will be required from students who have completed at least 60% of the enrollment term on the dateof withdrawal.Unearned aid will be returned to sources in the following order:1. Unsubsidized Federal Stafford Loan2. Subsidized Federal Stafford Loan3. Institutional Programs (Annual or Endowed Scholarships)4. Other Aid (private scholarships and/or loans)Student’s Responsibility for Return of AidThe amount of assistance that the student is responsible for returning is calculated by subtracting the amountof unearned aid the College is responsible for returning (up to the amount of refunded tuition and feescharges) from the total amount of unearned aid under Section 668.22 (e) (4) of the Higher Education Act. Thestudent (or parent in the case of a PLUS loan) must return or repay the amount of unearned aid deemed to bethe student’s responsibility first to loan programs and then to grant programs (see order of programs underRETURN OF UNEARNED AID). However, a student is not required to return 50% of the grant assistance that isthe student’s responsibility to repay.Repayment Agreement with Bellin CollegeOverpayments paid to Bellin College will be returned to the appropriate aid sources in accordance with Section668.22 of the Higher Education Act.A student who owes a repayment of federal financial aid may choose to enter into an agreement with BellinCollege. This agreement will specify minimum payments, frequency of payments and the maximum timeallowed for repayment in full.The College will require monthly payments of at least $50. The full amount of the overpayment must berepaid within two years of the date the College determined that the student withdrew. If at any time thestudent fails to meet these terms, Bellin College will assign collection of the overpayment to the Secretary ofthe U.S. Department of Education at which time the student will become ineligible for further federal financialaid at any institution of higher education.Maintaining Eligibility for Financial AssistanceA student who withdraws beyond the 60% point of an enrollment period will remain eligible for federalfinancial aid (provided all other eligibility criteria are met). A student who withdraws prior to the 60% point ofan enrollment period and is required to return a portion of federal aid received will remain eligible for federalfinancial aid provided the student:A. Repays the overpayment (unearned aid) in full to the institution within 45 days of the date the Collegesends the notification to the student that a return of federal aid is required or;B. Enters into a satisfactory repayment agreement with the College or;94