Financial aid is applied to student’s accounts on the 30th calendar day of the semester. If the 30th calendar day falls on a weekend, aid will be applied to the account on the previous business day. If a student has a credit balance as a result of the financial aid credit to the account, the policy of the college is to refund the credit to the student according to federal regulations. Credit balances caused by financial aid are refunded only after a careful review of the student's account and eligibility for aid. If a credit balance refund is due the student, the refund is made to the student within 14 days after the financial aid is posted, as mandated by federal law. A refund will be issued only if the student's balance is paid in full. The refund will normally be issued in the form of a check made payable to the student and mailed to the student's preferred address.
A student may receive partial or full credit for the semester's tuition charge if he/she completes the official Add/Drop or withdrawal process through the Registrar's Office. In this case the credit is refunded in accordance with the method of original payment, i.e. credit card or check.
In cases of course cancellation by the college, a credit equal to 100% of tuition and fees will be given. Late Registration and/or absences from class have no bearing on refunds.
Students suspended for academic or disciplinary reasons and found to be in violation of established college policy, will not be entitled to a refund of tuition or fees.
Change in Enrollment Status
A student who has received a refund based on financial aid and later changes enrollment status may be required to repay all or part of the aid received to the college or to the appropriate federal or state aid programs. Students receiving federal aid, other than Federal Work-study funds, who withdraw, change enrollment status (increase or decrease credit hours taken), or are reported for non-attendance, will have federal aid adjusted in accordance with formulas prescribed by the Federal Title IV Program.
IMPORTANT NOTE: Credit balance refunds are processed after the 30th day of the semester.
Eligibility for a refund depends on several factors and will be determined by the Office of Financial Aid. Changes in any of these factors, such as dropping courses or withdrawing from the college, could result in delays in receiving a refund or the reduction of the student's aid package, thereby removing a potential credit balance.
Withdrawal from the College
A student who withdraws from the college receives only the balance that remains, if any, after the appropriate refund calculation has been performed by the Office of Financial Aid and according to the federally mandated Return of Federal Title IV Funds Policy listed below.
Return of Federal Title IV Funds Policy
Financial aid recipients who withdraw before 60% of the semester is completed will also be required to return a portion of the federal financial aid received. For further information, please consult the Office of Financial Aid. For full explanation follow the link to the Return of Title IV Policy.
A. Funds to be returned:
CCAC returns unearned funds received from Federal student assistance programs to the proper program accounts or lenders in accordance with Federal Title IV student assistance regulations, as amended, under 34 CFR, section 668.22(d) of the Reauthorization of the Higher Education Act of 1965.
Students receiving assistance from Federal Title IV programs are required to complete a minimum number of credits for which assistance was received. If the student completely withdraws from school during the semester or stops attending, but fails to officially withdraw, they will be required to return the unearned part of the funds received to help pay educational expenses for the semester. Liability for return of Federal Title IV funds will be determined according to the following guidelines:
Return of Federal Title IV funds will be distributed according to statutory regulations. Worksheets/Formulas provided by the US Department of Education will be used to determine the amounts and order of return.
If the student owes money to the college as a result of an official or unofficial withdrawal, the student is notified via receipt of a revised bill from Student Accounts.
Students who will be eligible for a Financial Aid refund after tuition and fee charges are paid, may charge books and supplies at the CCAC bookstore during the published Bookstore Charging Period, provided the appropriate Free Application for Federal Student Aid (FAFSA) has been filed and all required additional documentation is received by the CCAC campus Financial Aid Office by the designated due date. Students must also be registered for classes by the date designated by the financial aid office in order to charge books.
Financial Aid Credit Dates:
First day of classes (16-week term)—January 14, 2013
Bookstore charging period—January 14, 2013 to February 8, 2013
2012-2013 FAFSA due date – December 1, 2012
Registration Deadline (Regular and Late Starts) – December 1, 2012
First day of spring classes (14-week term)—January 28, 2013
Bookstore charging period—January 28, 2013 to February 8, 2013
Spring 2013 grant credit date—February 12, 2013
Spring 2013 loan credit date—February 13, 2013
First day of classes—May 20, 2013
Bookstore charging period—May 20, 2013 to June 2, 2013
Registration deadline and FAFSA due date – May 1, 2013
13FS grant credit date—June 10, 2013
13FS loan credit date—June 12, 2013
First day of classes—July 1, 2013
Bookstore charging period - July 1, 2013 to July 8, 2013
Registration deadline and FAFSA due date – June 1, 2013
13SS grant credit date—July 15, 2013
13SS loan credit date—July 16, 2013
Please note: Financial Aid Refunds will be issued within 14 days after the scheduled grant and loan credit dates above.