Earning your Financial Aid Refund
It is important for students to attend and complete all enrolled classes (in a semester) to avoid the possibility of having to re-pay financial aid funds that were applied to their student account.
Students should contact the Financial Aid Office before withdrawing from a class or classes to determine the consequences, if any.
Federal regulations state that students who cease enrollment in a semester will be subject to a Return of Funds calculation. If the calculation determines that a student has not completed at least 60% of the term of the class they are withdrawn from last, the student will owe monies to Stanly Community College and possibly the Department of Education.
The Return of Funds calculation applies only to classes that were Pell Grant eligible. For example, if the student is still enrolled in one class that is not Pell Grant eligible but has withdrawn/failed from all other classes, the calculation will be processed and the student could still owe monies.
The Return of Funds calculation is based on the last date of physical attendance or academically related activity (for online classes).
The Return of Funds calculation applies the unearned percentage against all institutional charges (tuition, fees and bookstore charges).
Students who attend 60% of their enrollment will have earned all Pell Grant funds and will not have to return any funds received.
Note: There are no appeal options regarding money owed as a result of the Return of Funds calculation.
NC State Grant:
State grants are provided to assist students on the assumption that the students will attend college for the entire term for which the funds are awarded.
When a student withdraws from all classes before the end of the term, SCC will determine how much, if any, state grant funds must be returned.
The amount to be returned depends on when the student withdraws.
If a student withdraws prior to or at the 35% point of the term, SCC will use the state grant withdrawal worksheet to determine the prorated amount of funds to be returned.