REFUNDS AND RETURN OF TITLE IV

Financial Aid Refunds

If you have aid in excess of your tuition/fees and bookstore charges, a check will be written to you for the balance after all semester charges have been made. The balance check will mailed approximately six weeks from the start of the semester. Pell Grant checks will be mailed to you at the address you provide to the ACC Records office unless you have any outstanding balance with the college. See Cashier and Student Accounts Office.

Financial Aid Recalculation Date

The Pell amount awarded on a student’s award letter is for attendance in 12 credit hours of classes. It will be adjusted as indicated below based on the actual credit hours for which he/she enrolls. Enrollment is locked on one of two dates either the Pell Recalculation Date (PRD) or the students Initial Calculation Date (ICD), whichever is later. The PRD date is the 10% point the semester. Students may contact the Financial Aid office by phone or email to inquire the date for the semester. This date is the same for all students. The Initial Calculation Date is the date in which a student has both a valid FAFSA on file with Alamance Community College and has initially enrolled. This date can be different for each student.

Example1:

Students FAFSA arrived to Alamance Community College on March 13^th, student enrolls on May 10^th. Their ICD (Initial Calculation Date) date is May 10^th. The semester is from August 15^th until December 15^th with a PRD of August 27^th. Since the PRD of August 27^th is later than the ICD date of May 10^th, enrollment is locked in on August 27^th. Any changes made after August 27^th will not change the Financial Aid calculation.

Example 2:

Students FAFSA arrived to Alamance Community College on May 19^th, student enrolls on August 31st. Their ICD (Initial Calculation Date) is August 31st. The semester is from August 15^th until December 15^th with a PRD of August 27^th. Since the ICD of August 31^st is later than the PRD date of August 27th, enrollment is locked in on August 31st. Any changes made after August 31st will not change the Financial Aid calculation.

Example 3:

Students FAFSA arrived to Alamance Community College on April 29^th, student enrolls on April 15th. Their ICD (Initial Calculation Date) is April 29th. Student withdrawals from all classes on August 10^th. They then registration late start classes on September 1^st. The semester is from August 15^th until December 15^th with a PRD of August 27^th. Since the PRD of August 27th is later than the ICD date of April 29th, enrollment is locked in on August 27th. Any changes made after August 27th will not change the Financial Aid calculation, including the registration of late start classes on September 1^st.

The same formula is used to determine enrollment for State Grants.

Return of Title IV Aid

Students who withdraw from all courses prior to completing 60% of the semester will have their award and eligibility for aid recalculated based on the percent of the semester completed.

For example, a student who withdraws completing only 30% of the term will have “earned” only 30% of any Title IV aid received. The remaining 70% must be returned by the student.
See the full Return of Title IV Aid policy here (PDF).

If you are thinking about withdrawing from all courses PRIOR to completing 60% of the semester, you should contact the Financial Aid Office to see how your withdrawal will affect your financial aid. Withdrawals from courses may affect your future Financial Aid eligibility and your Satisfactory Academic Progress status.

Complete Withdrawal from School

If you register and then completely withdraw from all courses, your eligibility for aid will be RECALCULATED based on the number of days you attended class. If you withdraw on or after the first class day, you may have to repay a portion of any cash financial aid received. See Return of Title IV Funds above. If you completely withdraw, you should reference the Satisfactory Academic Progress policy to determine if your withdrawal will affect your eligibility for future aid.

Tuition Assistance (TA Funds)

All students who use Tuition Assistance (TA) should contact their Education Service Officer or counselor within their military service branch prior to enrolling at the College. Tuition Assistance course approval must be authorized before the first day of classes. However, some service branches require approval a week prior to the first day of classes.

Paying for ACC