Return of Title IV Funds
The federal government mandates that if a student withdraws from all of their classes either officially or unofficially you are only eligible for the financial aid you have earned up to the timeframe of your withdrawal. If a student drops their classes before they are 60% completed a student may be required to repay a portion of their federal aid. If Title IV funds were disbursed in excess of the earned amount the funds must be returned by Coffeyville Community College and or by the student to the federal government. This situation could result in the student owing funds to CCC, to the government or both. This does not apply if a student has dropped some of their classes but remained enrolled in others or have successfully completed at least one class. Students receiving all F’s or a combination of all F’s and W’s are subject to the Return of Funds calculation.
When a student withdraws from 100% of their classes Coffeyville Community College must determine the actual amount of federal aid earned for the period of time enrolled. To determine the amount of aid earned up to the time of withdrawal, CCC will divide the number of calendar days attended classes by the total number of calendar days in the program of study (less any scheduled breaks of 5 days or more). The resulting percentage is then multiplied by the total federal funds that were disbursed to the student for the semester. This calculation determines the amount of aid earned which the student may keep (for example if a student attended 25% of the term, the student has earned 25% of the aid disbursed). The unearned amount (total aid disbursed less the earned amount) must be returned to the federal government by CCC or by the student. CCC will notify the student if he or she is required to repay any of their federal funds. The college is required to notify the student within 45 days of determining the student’s withdrawal of any student portion of unearned Title IV funds from a federal grant. The student is allowed 45 days to repay the funds. After that time payment arrangements must be made with the U.S. Department of Education or eligibility for federal financial aid at any higher education institution will be denied. The student also needs to repay to the institution the money that CCC is required to return to the Department of Education for the unearned institutional charges.
Federal funds that may be affected by a 100% withdrawal are the Federal Pell Grant, Federal Direct Loans, Federal Supplemental Educational Opportunity Grant and the Federal Academic Competitiveness Grant. Financial aid returned by Coffeyville Community College and or by you must be returned in the following order:
1. Federal Unsubsidized Loan
2. Federal Subsidized Loan
3. Federal Plus Loan
4. Federal Pell Grant
5. Federal Supplemental Educational Opportunity Grant
6. Federal Academic Competitiveness Grant
If a student withdraws before federal aid has been paid he/she may be eligible for a post withdrawal disbursement if that is the case the Financial Aid Office will be notified of the withdrawal and will determine if a PWD (post withdrawal disbursement) is necessary. The Business Office will issue a check if a credit balance results from a post withdrawal disbursement. If the post withdrawal amount consists of loan funds and the amount the student is eligible for exceeds the students charges CCC will notify the student/parent within 30 days of CCC’s determination that the student withdrew. The student/parent may accept any or all of the loan funds. No Post-withdrawal disbursement of Title IV loan funds will be made unless CCC receives response within 14 days after notification is sent.