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Return of Title IV Funds and Refunds

A Title IV federal aid recipient who withdraws, officially or unofficially, from all classes on or before the 60% point of the academic term (10th week of school) will be subject to repayment based upon the federal “Return of Title IV Funds” calculation.  Federal regulations require that a percentage of the funds disbursed be returned.  Students “earn” federal aid funds in direct proportion to the length of time they remain enrolled.  A student who remains enrolled past the 60% point of the academic term has earned 100% of the Title IV federal aid for the enrollment period.  Pell grant awards are processed based on the student's enrollment status after the add/drop date is past for the semester.

SMCC REFUNDS

The Financial Aid Office will authorize the Business Office to pay credit balances from Federal Grants after the student completes 60 % of the semester. If your financial aid awards exceed assessed tuition and fees, you will receive a refund check from the Business Office. If there is a balance due, the Business Office will bill you.