Elements 2

Awards are made based on current information. As that information changes, be it additional outside resources from a third party sponsor like Vocational Rehabilitation or Training Education Center, revisions of the aid package may be required to avoid over-awarding the student’s documented need (a Pell Grant is never reduced as a result of an over-award).

If a student obtains additional resources after the aid has been disbursed and the over-award does not exceed $300 revisions to the aid package are not required.

Attendance costs and award eligibility are adjusted based on the following levels of enrollment:

12 + credits = Full-Time

9 -11 credits = Three-Quarter-Time

6 - 8 credits = Half-Time

1 - 5 credits = Less Than Half-Time

Adjustments, to grants and some scholarships in particular, are made when a student’s enrollment (tuition charged for "x" number of credits) fluctuates between the levels of enrollment listed above. These adjustments are made after students drop or add classes. This also happens when students fail to show up "no show" for classes financial aid will or has paid for.

Each semester, previously awarded funds are released because of non-enrollment, reduced credits, "No Show", or withdrawals. These funds will be awarded to students that are currently enrolled with priority being those students with the highest unmet need.

For financial aid purposes, students are encouraged to sign up for the full semester’s course work at the beginning of the semester. If classes that meet other than for the full semester do not make or conflict with a student’s schedule, the student may owe a refund.

All financial aid disbursements will be mailed to the student’s billing address on file with the Cashier’s Office. This includes student loan checks disbursed via the electronic funds transfer process and the proceeds from any need-based grants and scholarships.

To ensure accurate financial aid disbursements, any schedule adjustments after the first day of class may delay individual disbursements since awards are based on a level of enrollment several weeks before the actual check is mailed.

For students awarded after the above dates, a disbursement of funds, minus tuition and fees, is generally mailed on the Friday following receipt of the award letter. Students are notified in writing separately when loan proceeds are mailed.

It is strongly recommended that every student have sufficient funds to cover personal supplies and living expenses until financial aid checks are issued.

If the amount of the award exceeds the tuition and fees for that term, a student may charge current term books and supplies against the remaining financial aid balance. Any charges become the responsibility of the student should financial aid be adjusted or prove insufficient.

REFUNDS: A refund may be necessary for a student who receives financial aid and totally withdraws from all classes. The College will refund all or part of the financial aid that was paid towards tuition and fees. There are three types of refunds the school must calculate to determine which one will produce the largest refund for the student. For additional information and examples contact the Financial Aid Office.

The College will refund 100 percent of tuition and student fees collected for a term if the student officially withdraws during the first 15 percent (end of the drop period) of the class term for which the tuition and fees were paid. The refund will be applied to the appropriate financial aid program based on the Refund and Repayment Allocation Chart. Contact the Admissions and Records Office to initiate this process.

First semester financial aid recipients who have attended more than 15 % of the semester will be subject to this refund. The College will refund the money back to the appropriate financial aid program.

A financial aid student who totally withdraws after 15% of the semester has elapsed and is not a first-time recipient will be subject to this refund. The College will refund the money back to the appropriate financial aid program. REPAYMENTS: There are two kinds of repayments of financial aid a student may have with different repercussions if not resolved in a timely manner. Both happen after a financial aid disbursement has been made. They are the results of a schedule adjustment or a total withdrawal.Schedule Adjustment Repayment

Financial aid is disbursed based on a particular level of enrollment. When, for whatever reason, there is an adjustment down to a lower level of enrollment and a disbursement has occurred, the student may owe a repayment of funds received.

This is the difference between what was originally received based on full-time enrollment and what is actually allowed based on half-time enrollment.

Financial aid in excess of tuition and fee charges is meant to be used for living expenses related to education, such as room and board, transportation, etc. When a student who receives such a disbursement ceases to be enrolled, PCC must determine whether the student must repay a portion of that disbursement. If a student is not enrolled a sufficient length of time to earn in non-institutional costs (i.e. living expenses) proportionately the amount disbursed to the student, then the student must repay the excess amount.

7% x $5,950 Non-institutional Costs {Cost of Attendance Minus Tuition & Fees} = $417 Retainable amount by student

This is considered a repayment and will be reported as such so that this student will not be eligible for Federal Title IV aid at any higher education institution until the funds are repaid by the student.

The money will be refunded according to the following chart. Pueblo Community College will collect these funds on behalf of the Department of Education, the State of Colorado, and PCC.

Any repayments from the student, or refunds from the college will be credited to the appropriate financial aid program in the following order:

REFUND ORDER	REPAYMENT ORDER
Unsub Stafford
Sub Stafford
Federal PLUS
Federal Pell	Federal Pell
Federal Supplemental Educational Opportunity Grant	Federal SEOG
Colorado Student Incentive Grant	CSIG
Colorado Student Grant	CSG
PCC Scholarship	PCC Scholarship
Diversity Grant	Diversity Grant
Pueblo Community College	PCC
Student	Student