Other Financial Aid Policies

Disbursement

The dates for disbursing the Federal Pell Grant and/or Federal Student Loan refunds are published prior to the beginning of each academic year. An enrolled student’s financial aid offer will be determined by their hours of enrollment and attendance. For more information, see the Financial Aid Refund Schedule in myRichland on the My Financial Aid page.

Return to Title IV Policy

The Higher Education Amendment of 1998 requires institutions to calculate the amount of Title IV aid earned by students who completely withdraw from the institution before completing 60% of the enrollment term. Richland Community College must calculate the amount of Title IV funds the student earned for the period enrolled before withdrawing. This process requires Richland to determine whether any Title IV funds received by or on behalf of that student must be returned to the Department of Education or if the student is entitled to further disbursements of awarded Title IV funds. A student who attended more than 60.01% of the payment period will earn 100% of aid.

The last date of attendance is determined in one of two ways. If a student officially withdraws from the institution, the student’s last date of attendance is the date the student began the withdrawal process or notified the institution of withdrawal. An unofficial withdrawal occurs when a student stops attending classes and does not notify the institution of the withdrawal. The Financial Aid Office will research to find the last date of attendance by contacting instructors, using Canvas, and receiving a drop request via email. If a student has ceased to attend all classes, the latest date of attendance in all classes will be used in the calculation.

The return of Title IV funds formula calculates the amount of Title IV aid to which a withdrawn student is entitled in direct proportion to the percentage of the period that the student attended. If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned. If the amount disbursed to the student is less than the amount earned, and for which the student is otherwise eligible, the student is eligible to receive a post-withdrawal disbursement of the earned aid that was not received. Richland Community College will return funds in the following order:

1. Direct Unsubsidized Loan
2. Direct Subsidized Loan
3. Direct PLUS Loan
4. Federal Pell Grant
5. Federal Supplemental Educational Opportunity Grant (FSEOG)

Richland will notify the student within 30 days if the student is required to repay a portion of financial aid for the term. Richland will return funds within 45 days to the U.S. Department of Education. Any Title IV credit balance due to the student as a result of the Return to Title IV calculation will be disbursed as soon as possible and no later than 14 days after the Return to Title IV calculation is completed. 

Verification

All students receiving Federal and/or State financial aid are required to sign a Policies and Procedures Statement each academic year. Students selected for verification by the Department of Education Central Processing System are required to submit certain financial documents that verify the financial information reported on the Free Application for Federal Student Aid (FAFSA).