• Home
  • Financial Aid
  • Policies
  • Federal Funds Return Policy

Federal Funds Return Policy

IMPORTANT: 

Review this policy before withdrawing from courses or discontinuing attendance.
 
The Federal Funds Return Policy applies to students who have received federal financial aid assistance and have officially or unofficially withdrawn from NTC. The official withdrawal date is defined as the actual date the student begins the college's withdrawal process or the student's last date of academically related activity.
 
If a student withdraws from school before 60 percent of the term has been completed, drops a class before the start date (or within the first 10% of the class), or does not officially withdraw and receives all failing grades for the term, the Financial Aid Office will calculate the amount of unearned financial aid and return financial aid funds in refund distribution order. The student is billed for funds NTC is required to repay. The NTC Business Office invoices the student, and account balances not paid within 30 days are turned over to a collection agency. 
 
If a student received all F's for a term, but attended at least one class the entire term and "earned" the grade of F. Confirmation of attendance from appropriate instructors may be requested at the discretion of the Financial Aid office. If attendance cannot be documented or certified by the faculty, the Financial Aid Office will complete a Return of Title IV Funds calculation using a 50 percent rate as prescribed by federal regulation. The student is notified of any financial liability resulting from this calculation. Any funds that are to be returned by the college will be returned in the following priority order:
 
  • Unsubsidized Stafford Loan
  • Subsidized Stafford Loan
  • Perkins Loan
  • PLUS
  • Pell
  • SEOG
 
Note:  Students must drop classes online or through the Student Records Office. You will not be automatically dropped from classes by simply not attending. You will be liable for charges for classes not started unless they are dropped prior to the first day of the semester.  View more information on NTC's Class Withdrawal (Drop) Information

 

Tags: 

  • Financial Aid