State Technical College of Missouri
4. Federal Pell Grant ** 5. Federal SEOG ** 6. Other Title IV Grant Students **
* Loan amount is to be repaid in accordance with the terms of the promissory note. ** Amounts to be returned by the student to federal grant programs will be 50% of the amount owed.
Note: State Technical College of Missouri will return any grant money owed by the student to the grantor. The student will be responsible for reimbursing any grant money to the college that is returned on his/her behalf.
Unearned aid must be returned by State Technical College of Missouri as soon as possible, but no later than 45 days after State Technical College of Missouri has determined that the student withdrew.
If a student has not received all of the financial aid they have earned at the time of withdrawal, the student may be due a post-withdrawal disbursement.
If a post-withdrawal disbursement includes a student loan(s), State Technical
College of Missouri must obtain the borrower’s permission before the loan can be disbursed. Students may choose to decline or reduce loan funds.
Refunds and adjusted bills will be sent to the student’s accounts receivable address following withdrawal. The student is responsible for any portion of his/her institutional charges that are left outstanding after Title IV (Financial Aid) funds are returned. A student with a past due balance will have a business hold placed on his/her records. If payment is not made, the student’s account may be turned over to a collection agency, which may affect his/her credit rating.
Refunds on all institutional charges, including tuition and fees, will be calculated using the refund policy published in this catalog.
Institutional and student responsibilities in regard to the return of Title IV funds.
a. State Technical College of Missouri’s responsibilities in regard to the return of Title IV funds include: Providing each student with the information given in this policy. Identifying students who are affected by this procedure and completing the Return of the Title IV Funds calculation for those students.
Returning any Title IV funds that are due to the Title IV programs within 45 days of the withdrawal.
Determining the withdrawal dates for students who withdraw without notification. If a student does not officially withdraw and fails to earn a passing grade in at least one class, for financial aid purposes, State Technical College of Missouri will assume the student has unofficially withdrawn. The student’s last date of attendance will be used for the return calculation. Notifying students of the result of withdrawal in regard to their financial aid.
b. The student’s responsibilities in regard to the return of the Title IV funds include: Becoming familiar with the Return of Title IV funds procedure. Understanding the college’s official withdrawal process. Repaying to the Title IV programs any funds that were disbursed directly to the student and which the student was determined to be ineligible based on the Return of Title IV Funds calculation.
State Technical College of Missouri will notify the student of the amount of any federal grant overpayment. The student must repay the amount in full to State Technical College of Missouri. The college will then repay the U.S. Department of Education. The student must complete these arrangements within 45 days of notification of the overpayment status or risk losing eligibility for future Title IV assistance.
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