Return of Federal Title IV Funds Policy
Financial aid recipients who withdraw before 60% of the semester is completed will also be required to return a portion of the federal financial aid received. For further information, please consult the Financial Aid Office.
Funds to be returned:
MCC returns unearned funds received from Federal student assistance programs to the proper program accounts and/or lenders in accordance with Federal Title IV student assistance regulations, as amended, under 34 CFR, section 668.22(d) of the Reauthorization of the Higher Education Act of 1965.
Students receiving assistance from Federal Title IV programs are required to complete a minimum number of days scheduled to be completed. If the student completely withdraws from school during the semester or stops attending, but fails to officially withdraw, they will be required to return the unearned part of the funds received to help pay educational expenses for the semester. Liability for return of Federal Title IV funds will be determined according to the following guidelines:
Return of Federal Title IV funds will be distributed according to statutory regulations. Worksheets/Formulas provided by the US Department of Education will be used to determine the amounts and order of return.
Student's who will be eligible for a Financial Aid refund after tuition and fee charges are paid, may charge books and supplies at the Blue Colt bookstore, two weeks prior to the start of the term and within the first two weeks of the semester.