Return to Title IV
Aid Policy
Sometimes
things happen that can
prevent a student from completing a semester after classes begin.
It is our hope at Panola College that you will be able to enjoy a
full educational growth experience during the school year. But
in light of the possibility of an emergency pulling you from your
intended studies, you need to be aware of the financial impact a
complete withdrawal from the College can cause.
Any
aid
recipient making a complete withdrawal
who received a Federal Pell Grant, or SEOG Grant, may be
required to
pay several hundred
dollars back
immediately if they drop out of school before 60% of the semester
has passed. The federal law requiring this is called the
Return to Title IV Aid.
Return
to Title IV Aid works
like this: If you receive financial aid and drop out of school
before the 60% point of a semester OR if you stop attending classes, you
may owe back tuition and fee charges for the semester and
possibly an additional grant repayment. You pay this money to the
Panola College Business Office who returns proper funds to the
federal government on your behalf. (This only applies to complete
withdrawals, not partial withdrawals.) On-campus room and
board charges can also increase this payback substantially.
You
should check with our office prior to making a complete withdrawal
to see the impact it will have. You also need to remember that any
withdrawal impacts your Satisfactory Academic Progress, which could
adversely affect your aid eligibility, so completing the term is
always best when possible.
If a
Return to Title IV Aid calculation is required, the amount of earned
and unearned aid will be determined according to the federal
formula. The date the student withdrew determines the amount
of repayment required. The College will determine the
student's official withdrawal date by using one of the following
methods:
-
The
date the student began the College's withdrawal process (the
date that the student officially notified the Student Success
Center of his/her intent to withdraw); OR
-
The
student's last date of attendance at an academically related
activity as documented by the College.
Important Note: Panola College will return any
unearned funds to the federal source and bill the student
for the amount that was returned on the student's behalf.
Updated
10/22/2007
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