Untitled - Bellin College

BELLIN COLLEGE CATALOG2011-126. Federal Supplemental Educational Opportunity Grant (SEOG)7. Other Federal Grant or Loan Assistance8. Wisconsin Grant Programs9. Institutional Programs (Merit Scholarships, Annual or Endowed Scholarships)10. 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;1. Signs a repayment agreement with the Secretary of the U.S. Department of Education which willinclude terms that permits the student to repay the overpayment while maintaining eligibility forfederal aid.2. Will refer collection matters to the Secretary of the U.S. Department of Education if the student doesnot repay to the College the full amount of the overpayment or enter into a satisfactory repaymentagreement with the College or the Secretary of the U.S. Department of Education in accordance withSection 668.22 (h) (4) (i) of the Higher Education Act within 45 days from the date the College sent thestudent a notification of the overpayment.Overpayment collection accounts will be referred to the U.S. Department of Education at any time the studentfails to meet the terms of the repayment agreement with the College or fails to enter into a repaymentagreement with the Secretary. Students whose overpayment collection accounts have been referred to the37