Treatment of Title IV Funds Policy
ATTENTION FINANCIAL AID RECIPIENTS: Class enrollment and attendance should be taken seriously. It is important to know and understand your class schedule, and it is your responsibility to attend class. If you must resign from SOWELA Technical Community College you must do so officially by contacting the registrarís office and completing the required resignation form.


TREATMENT OF TITLE IV FUNDS (PELL GRANT, ACG, STAFFORD LOANS)

  • WHEN A STUDENT WITHDRAWS
  • STOPS ATTENDING CLASS
  • IS SUSPENDED
  • TAKES AN UNAPPROVED LEAVE OF ABSENCE (UNOFFICIAL WITHDRAW)
  • DOES NOT ATTEND ALL SCHEDULED CLASSES

RETURN OF IV FUNDS POLICY
If a student, who is disbursed Title IV financial assistance, withdraws or stops attending class on or before completing 60% of the semester in which the Title IV aid was disbursed, the following Return of Title IV Funds policy will be applied.


SOWELA Technical Community College will apply the federal Return of Title IV Funds policy per the Higher Education Act of 1998. This policy will apply to any student who receives Title IV aid (Federal Pell Grant). This applies to any student receiving Title IV aid who officially withdraws, drops out, is suspended, takes an unapproved leave of absence (unofficial withdrawal), and/or does not attend ALL scheduled classes (note: this includes block/module scheduling). The policy will also apply when a student is dropped from their classes by the instructor due to excessive absences. 


The amount of Title IV Funds to return to the applicable federal programs will be determined, using the studentís last date of attendance, by calculating the percentage of the enrollment period for which the student did not complete. Scheduled breaks of five or more consecutive days are excluded. SOWELA Technical Community College will return the lesser of the total of unearned aid or an amount equal to institutional charges multiplied by the percentage of unearned aid. SOWELA must return unearned funds within 45 days of the date of determination of the withdrawal date. 


Failure to attend class, not attending any module/block schedule course or failure to resign properly could cause the student to receive a letter grade of "FĒ in all courses. In this case, the student would still be subject to the return of funds policy once an official last date of attendance is established. Merely discontinuing class attendance is not considered to be a formal resignation from the college. 


The student will be notified of the amount of money that must be repaid to SOWELA due to unearned funds that the school had the responsibility to return. In the event of resignation, the SOWELA institutional refund policy will be applied and tuition will be reduced by that amount. The student may be liable for any Title IV funds disbursed to their account in excess of the amount by allowed federal regulations. The school will collect the portion of any assistance owed by the student. If no payment is received, holds will be placed on the studentís account, and the student will lose eligibility for Title IV aid unless the overpayment is paid in full or satisfactory repayment arrangements are made. 


Unearned funds are allocated to the Title IV programs from which the student received assistance, in the following order: Federal Pell Grant, and Federal SEOG. After the institutional refund has been credited in this order, any remaining amount will be returned to the student.


   

 

© Copyright 2014, SOWELA Technical Community College. All rights reserved.