Any student receiving Federal Title IV funds will be subject to the following policy regarding the return of Federal Title IV funds:
Students who withdraw from all classes prior to completing more than 60 percent of an enrollment term (semester) will have their eligibility for federal aid recalculated based on the percentage of the term completed, which shall be calculated as follows:
The percentage of the semester completed is the percentage of aid earned. This is calculated by the number of days the student attended divided by the number of calendar days in the payment period (i.e. semester). For example, if a student completely withdrew on the 20th day of a semester (and the semester is 110 days in length), the student would have only earned 18 percent of the aid he or she received.
Clark State Community College and the student will be required to return to the federal aid programs the amount of aid received that was in excess of the aid "earned" for the period the student remained enrolled.
If the College returns funds to the Title IV aid programs, it could result in the student owing Clark State Community College charges that were originally paid at the time of disbursement. Students may also be required to return funds released to them for personal expenses. Unearned federal aid will be returned in the following order: Federal Stafford Loans (unsubsidized, then subsidized), Federal Plus Loans, Federal Pell Grant and Federal SEOG.
Students who remain enrolled through at least 60 percent of the payment period (semester) are considered to have earned 100 percent of the aid received and will not owe a repayment of Federal Title IV grant funds.
Please note that students are responsible for any balance owed to Clark State Community College as a result of the repayment of federal aid funds.
If you did not receive all of the funds that you earned, you may be due a post-withdrawal disbursement. Clark State will notify the student within 30 days of the date of determination of withdrawal concerning the post withdrawal disbursement. If your post-withdrawal disbursement includes loan funds, Clark State must get your permission (or your parent’s permission for a Direct PLUS Loan) before it can disburse the funds. You (or your parent for a Direct PLUS Loan) may choose to decline some or all of the loan funds so that you do not incur additional debt. The student (or parent if a PLUS loan) must respond within 14 days of the date the post-withdrawal disbursement notification was sent.