Enrollment/Withdrawal, Refund and Repayment Policies
Students applying for financial assistance from Greensboro College are expected to be enrolled full time each semester during the academic year. Students enrolled less than full time must notify the Financial Aid Office. Institutional aid is reserved for full time students only. State programs require full time enrollment. Federal aid may be received by students enrolled less than full time but may be reduced according to the actual enrollment status. Students must be enrolled at least half-time for a Federal Direct Loan.
Students who are planning to withdraw, before completing a term must notify the Financial Aid Office. Failing to withdraw officially from Greensboro College could impact future attendance and eligibility for financial assistance. Students who do not officially withdraw will also be billed as a “no show” and be responsible for the balance.
For those students who officially withdraw and are receiving financial assistance through Greensboro College, the refund policy is dictated by Federal regulations. The College must refund the programs from which the student received assistance based on the date of withdrawal and percentage of time enrolled; therefore it is imperative that the student follows proper withdrawal procedures to insure a fair and equitable refund calculation can be performed. (Consult the sections of the Catalog entitled Refund Information and Withdrawal.) Once the withdrawal date is established and the adjustments to the student's charges have been made based on the time of enrollment, the Financial Aid Office must reduce the student's financial aid accordingly and reimburse the programs before any refund to the student can be made.
When a cash disbursement is made to a student because financial assistance exceeded the direct institutional charges placed on the student's account and the student withdraws, some of the cash disbursement given to the student may be required to be repaid to the College to be refunded back to the programs. The amount to be repaid is dependent on the percentage of time enrolled and the amount of assistance received.
PROCEDURES OF REFUND/REPAYMENT
The calculation used to determine the amount of funding a student may retain and the amount that must be refunded to the programs is based on the status of the student and the actual length of enrollment. If a student withdraws on or before the 60% point in time in the period of enrollment for which the student is charged, funding will be returned to the programs based on a pro rata calculation using the amount of time the student was enrolled, the charges incurred for that time, and the financial assistance awarded to the student.
REFUND/REPAYMENT DISTRIBUTION PRIORITY
After the amount that must be refunded to the programs is determined, the funding will be returned in the following order:
- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal PLUS Loan
- Federal Perkins Loan
- Federal Pell Grant
- Federal SEOG
- Other Title IV programs
- Other federal, state, private programs
- Institutional programs