Return of Funds Policy

Return to Federal Title IV Funds Return Policy 

This policy applies to students who have been awarded assistance through the Federal Pell Grant, ACG, FSEOG, LEAP, or Federal Family Education Loan Program (Stafford and PLUS loans). For these students, this policy overrides & supersedes the Northwest College Refund Policy, which is published in the Semester Class Schedule and Northwest College Catalog. If a student receives aid and;

a.) Does not register for courses,

b.) Registers but does not begin attendance, or

c.) Withdraws, drops out, or otherwise cancels his or her registration on or before the first day of classes,

all federal aid offered to that student for that semester will be cancelled. Students who have signed a campus housing contract will be subject to the terms of that contract and will not receive financial aid for any debt thereby incurred.

Students, who withdraw, drop out, are expelled, or are administratively withdrawn after the first day of classes will be subject to the Federal Refund policy. Students may be required to repay a portion or all of the assistance they received for living expenses, as well as other expenses. The Federal Refund Policy requires that a refund calculation be performed for any student who withdraws before the 60% point of any semester. (After the 60% point, the calculation assumes that 100% of the aid awarded was earned). The number of days up to and including the withdrawal day is divided by the number of days in the semester to determine the percentage of enrollment completed. The institutional charges (tuition & fees) are then multiplied by the above-calculated percentage to determine the amount of Title IV Aid earned. The amount earned is then subtracted from the total institutional charges to determine the unearned funds. These unearned funds are then returned to the financial aid programs as required by federal regulations. If a student has received unearned funds that must be repaid to these programs, Northwest College will notify the student in writing of the amounts and which programs they owe within 45 days of withdrawal from classes.

To withdraw from classes a student must complete an official Change of Status form, which can be obtained at the Enrollment Services Office (ORB 100). Examples of refund calculations and the full policy are available upon request at the Financial Aid Office. If a student receives grades of total F's for the semester, the financial Aid Office will contact instructors to determine the last date of attendance in any classes and based upon that determination will calculate if a return to Title IV funds is required by the student or NWC.