St. Petersburg College - Financial Assistance Services
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Financial Assistance Services

Refunds/Repayments

Official Withdrawals/Unofficial Withdrawals


Drop a class with a refund


SPC students receive a 100% refund on all tuition and fees for classes dropped prior to or during the drop/add period for each enrollment period. If the student is receiving financial assistance, any refund will first be credited to the financial assistance programs from which assistance was disbursed.

SPC’s tuition refund policy is separate from the federal requirement to return unearned aid when a student withdraws. Whether or not the student receives a tuition refund has no bearing on the amount the student may be required to repay under the Return of Title IV Funds formula.

 
Official / Unofficial Withdrawals


Students who wish to withdraw must follow SPC's official withdrawal procedures. Students who wish to withdraw completely from SPC are required to report to the counseling areas of their home campus or center for an exit interview. If it is not possible for a student to come in, a request in writing that the student be withdrawn may be submitted. Students are permitted to provide an email or fax to the Associate Provost’s office of their home campus if they are unable to come to SPC to notify the college of their intent to withdraw. e student officially withdraws or stops attending all courses, the student may be required to repay all or part of the financial aid disbursed to in the term you withdraw.

Students receiving federal funds may be required to repay aid determined to be “unearned.”  The earned/unearned calculation is based on the percentage of days the student attended during the term in which they withdrew.  The amount of aid the student has earned is determined on a pro-rata basis.  That is, if the student completed 30% of the term in which they withdrew, the student earns 30% of the aid received.  Once the student has completed 60% of the term, the student is considered to have earned all of their aid.

The difference between the earned federal aid and 100% equals the percentage of unearned federal funds that are subject to repayment.  Federal regulations require Title IV aid to be refunded in the following order:

  1. Unsubsidized Federal Stafford Loan
  2. Subsidized Federal Stafford Loan
  3. Federal PLUS Loan
  4. Federal Pell Grant
  5. Academic Competiveness Grant
  6. Federal Supplemental Education Opportunity Grant
Instructors will determine if their students are actively participating in their class at the 61% point of the term. If a student’s active participation cannot be determined for a specific course, the student will automatically receive a grade of WF.

If the student does not receive a passing grade at the end of the term, the Return of Title IV Funds calculation will be done after grades are posted for the term and it will be assumed the student unofficially withdrew at the 50% point of that term.  Confirmation of active participation at the 61% point will be verified before the R2T4 calculation is processed.  The determination of withdrawal will be made within 30 days after the end of the term.  The Return of Title IV Funds calculation will be made within 30 days of the date of determination, and unearned funds that the school is required to return will be repaid no later than 45 days after the date of determination.

Any loan funds the student must return, the student (or their parents for a PLUS Loan) may repay in accordance with the terms of their loan promissory note(s).  That is, the student makes scheduled payments to the holder of the loan over a period of time.  For grants, the law requires the student return 50% of any grant funds they receive.   Any amount the student is required to return is a grant overpayment.  SPC will repay any grant overpayment to the applicable federal program on the student’s behalf and the student will be billed by SPC for any funds returned on their behalf.

SPC will notify the student when a Return of Title IV calculation is performed due to either an official or unofficial withdrawal and the student may be billed for any outstanding obligations created by the student failing to earn Title IV funds, for which Federal funds were disbursed.  Students are not eligible for further aid until all repayments have been made.

SPC will perform R2T4 calculation for students that withdraw after the 61% point to ensure there is no post-withdrawal disbursement. 

Withdrawal from Standard Term-Based Programs Using Modules


Students who are enrolled entirely in the only express or 1st and 2nd eight week module terms meet the requirements of the U.S. Department of Education’s provisions for Withdrawals from Standard Term-Based Programs Using Modules.  If a student completes one course, no R2T4 is required.  If the student does not, R2T4 will be calculated.

Students who withdraw from the 1st module who provide SPC with a statement of their intent to enroll in the 2nd module will not be placed into R2T4.  If the student does not attend or does not complete at least one class within one module the R2T4 will be calculated.



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- Last revised - 5 August, 2008 -