18.03.2014 Views

Kaskaskia college registration

Kaskaskia college registration

Kaskaskia college registration

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

VI. Appeal of Suspension and Maximum Time Frame Status<br />

Students who are in suspension and/or maximum time frame status may appeal their eligibility for financial aid to the SAP Appeals Committee based on<br />

extenuating or special circumstances, such as death of a relative, injury or illness. Financial need is not sufficient criteria on which to base your appeal.<br />

There must be reasonable expectation that a student can regain eligibility if reinstated. The appeal process is completed online using your CampusNet.<br />

VII. Notification of Status<br />

The Financial Aid office will notify you when you are in warning, suspension and/or maximum time frame and probation status. However, it’s the<br />

student’s responsibility to know their status and if eligible for financial aid.<br />

VIII. Notice<br />

The College’s SAP policy is subject to change without notice to comply with federal or state regulations, or <strong>Kaskaskia</strong> College Board of Trustee policy or<br />

action. For the most current Satisfactory Academic Progress Policy, visit www.kaskaskia.edu/financialaid.<br />

FEDERAL RETURN OF FUNDS POLICY<br />

Return of Financial Aid Funds at Withdrawal<br />

If you withdraw completely from a term or stop attending before you have completed 60 percent of that term, you will need to abide by certain<br />

federal rules regarding the return of financial aid. This means that both you and <strong>Kaskaskia</strong> College might need to return some of your financial<br />

aid funds to the Title IV program(s) from which the aid was received. For a quick look at how these financial aid returns are calculated, you can<br />

request examples of both calculations from the Office of Financial Aid.<br />

Defining 60 percent of a term<br />

The federal formula to calculate "60 percent" takes the number of calendar days you complete in a term, divided by the total number of calendar<br />

days in that term. If you withdraw or stop attending before the 60 percent point of that term, you may have "unearned aid" that will need to be<br />

returned to the applicable Title IV programs.<br />

What are "earned" and "unearned" aids?<br />

During the first 60 percent of a term, you "earn" Title IV funds in direct proportion to the length of time you remain enrolled. If you remain<br />

enrolled beyond the 60 percent point, you earn all the aid for that period. "Unearned aid" covers federal financial aid funds that you have<br />

accepted, but that you have not yet earned by attending for a full term.<br />

How is the amount of unearned aid determined?<br />

The federal "Return of Title IV Funds" formula dictates the amount of federal Title IV aid that must be returned to the federal government by<br />

<strong>Kaskaskia</strong> College and by you. The percentage of Title IV aid to be returned—the unearned aid—equals the number of calendar days you<br />

completed in the term divided by the total number of calendar days in the term.<br />

Who is responsible for repaying unearned aid?<br />

You and <strong>Kaskaskia</strong> College share the responsibility to repay unearned aid, based on the proportion each of us is assumed to posses. If you and<br />

<strong>Kaskaskia</strong> College are required to return all or a portion of the financial aid that you accepted, this situation could result in you owing aid funds<br />

to <strong>Kaskaskia</strong> College, the government, or both. <strong>Kaskaskia</strong> College’s share is returned by allocating the funds among the Title IV programs in<br />

this order:<br />

1. Federal Unsubsidized Stafford Loan<br />

2. Federal Subsidized Stafford Loan<br />

3. Federal Grants (Pell Grants and TEACH Grants)<br />

Any remaining unearned aid is your responsibility, and <strong>Kaskaskia</strong> College is responsible to collect it from you, and then allocate it among the<br />

Title IV programs in the order shown above.<br />

What is the timeline for return processing?<br />

<strong>Kaskaskia</strong> College calculates and returns its share of unearned Title IV funds no later than 30 days after the date of withdrawal or when a student<br />

stops attending.<br />

Other information about withdrawals and tuition refunds<br />

The student may also be eligible for a refund of a portion of the tuition and fees paid to <strong>Kaskaskia</strong> College for the semester, according to the<br />

<strong>Kaskaskia</strong> College Tuition Refund Policy. If you will be withdrawing completely from <strong>Kaskaskia</strong> College, you must do so according to<br />

<strong>Kaskaskia</strong> College Withdrawal Guidelines and Policy.<br />

Educational programs for veteran students and eligible dependents are administered through the<br />

Office of Financial Aid. These programs include: Educational Benefits Montgomery GI Bill-Active<br />

Duty Educational Program; Category 1-Montgomery GI Bill; Category 2-Old GI Bill Crossover<br />

Montgomery GI Bill; Category 3; Chapter 31; Chapter 32-Post Vietnam Era Veteran’s Educational<br />

Assistance Program (VEAP); Chapter 35 Survivors’ and Dependents’ Educational Assistant<br />

Program; and Chapter 1606-1607 Montgomery GI Bill-Selective Reserve Educational Assistance.<br />

78

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!