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Refunds and Repayments | |
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I. Repayments Students are required to repay Title IV funds, state funds, or BCC funds when they have completely withdrawn from all their classes before completing 60% of the quarter. For the 60% dates of the quarter, click on the following links: According to federal regulations, when students withdraw from all their classes, officially or unofficially, the financial aid office is required to perform a calculation which determines the portion of Title IV aid (Pell, SEOG, ACG, PLUS and Stafford loans) that each student earned.If a student received other types of aid beside Title IV such as a WA State Need Grant, the aid office also must also determine if a repayment must be made to the state. The federal calculation identifies the amount of “unearned” aid; the college is responsible for repaying a portion of unearned aid on your behalf. The college returns, on your behalf, funds which had previously been used to pay your tuition. When the college returns these funds, you in turn must then repay the college.The repayment calculations are performed either at the end of the quarter or throughout the quarter as we become aware of withdrawals. You will receive a letter(s) from this office notifying you of this process and any repayments amounts and you may owe to the Department of Education, WA State, or BCC. II. Refunds Generally after dropping a class or classes, you will be eligible to receive a refund. Because financial aid is involved cashiering must consult with the aid office to determine who gets the refund. Many times if financial aid paid for the classes, the refund will come back to the financial aid program that paid.Return to the Financial Aid Office's main web page. Last u pdated on |