| Jamestown College |
| |
| Return of Title IV Funds Policy |
| |
| Enrollment |
| |
| For Return of Title IV* Funds and institutional purposes, a student is considered enrolled until he or she has completed and submitted an official Jamestown College Withdrawal Form or until the end of the semester has been reached, whichever is first. Official withdrawal forms are available in the Registrar’s Office. The date on which the form is received by Jamestown College staff determines the date to be used in the federally mandated calculation. Non-attendance of classes does not constitute an official withdrawal. |
| |
| Return of Title IV Aid |
| |
| The amount of federal Title IV aid earned is based upon the period of enrollment completed. A percentage is computed by dividing the number of calendar days completed (as of the date the student officially withdraws) by the total number of calendar days in the term as determined by the Financial Aid Office. The percentage is then applied to the aid received to determine earned and unearned aid. If and when any aid is determined to be unearned, it must be returned to the appropriate financial aid program(s). The amount returned cannot exceed the amount the student received from that program. Returns to the financial aid programs must be made in the following order: Unsubsidized Federal Stafford Loan, Subsidized Federal Stafford Loan, Federal Perkins Loan, Federal PLUS Loan, Federal Pell Grant, Academic Competitiveness or SMART Grant, Federal SEOG, Other Title IV Aid Programs, and ND State Grant. A student withdrawing after the 60% point is considered to have earned 100% of his/her aid and no adjustment to charges or aid is made. Additional details may be obtained from the Financial Aid Office. |
| |
| Application of Repayments to Title IV Aid |
| |
| For the payment period in which the student withdrew, it will be determined whether the student received an overpayment of financial aid funds for non-institutional expenses. The overpayment is the difference between the amount received by the student as cash disbursements and the amount earned for non-institutional costs during the portion of the payment period that the student was actually enrolled. (Federal Stafford Loans and Perkins Loans are excluded from repayment since the student is already obliged to repay the funds to the lender.) The Federal Pell Grant and the Federal SEOG programs must be repaid within 30 days, in that order. The overpayment will be calculated according to the federal Return of Title IV Funds policy. Overpayments made for non-institutional costs from Federal Pell Grant and Federal SEOG must be repaid at 50% of the repayment amount. Jamestown College is NOT liable for the amount of repayment owed by the student. A student that owes a repayment on Pell Grant, SEOG, or State Grant is ineligible for further Title IV assistance until the repayment is made. |
| |
| Jamestown College Aid |
| |
Jamestown College has adopted a refund policy for its charges similar to the Return of Title IV Funds Policy with, but not limited to, the following exceptions:
- 100% refund of tuition during the first week of a semester is allowed. After the first week, refunds are based upon the calculations described above. (Federal aid, however, is calculated as mandated for the entire term.)
- No refunds will be given for housing and processing fees.
- A per diem room and/or board charge may be assessed during the 100% refund period.
- The Reward Loan for the semester may be forfeited.
- The College may charge a $100 administrative fee for students who receive a 100% refund.
|
| |
| *Includes (but is not limited to) Pell Grant, Academic Competitiveness Grant, SMART Grant, FSEOG, Stafford loan, Perkins loan, and PLUS loan |
| |
| Important Note: This policy refers to withdrawal from Jamestown College, not to withdrawal from an individual course. |
| |
