Page 29 - 2017-2018 Academic Catalog

Financial Aid Policy for Part-Time Students
Anytime a student drops to part-time status either during the semester or between semesters, their financial aid will be adjusted accordingly and the financial aid package will be re-awarded. A student is considered full time if they are taking 12 or more credits and part-time if they are taking between 7-11 credits. A part-time financial aid award is one half of the full-time financial aid award. If a student drops to 6 credits or below they are considered less than part-time and are ineligible to receive any financial aid from Providence Christian College.
The financial aid award package covers the entire award year for both Fall and Spring semesters. If a student receives half of their original award due to a change in their enrollment status it is applied to each semester that they are part-time.
Refunds for Institutional Withdrawals
Students who completely withdraw from Providence Christian College (i.e., cancel their registration, withdraw, or are dismissed) before 60 percent of the semester has passed will have their tuition, room, board, student activity fee, and financial aid prorated for refunding or repayment. Students enrolled for more than 60 percent of the semester are not eligible for any refunds. Students receiving financial aid who withdraw from the College may be required to return a portion of the aid on a prorated basis.
The effective withdrawal date is the later of (1) the date a student begins the withdrawal process by providing either oral or written notification to the Registrar’s Office of their desire to withdraw, or (2) the student’s last date of attendance at an academically related activity (e.g. attendance in class, lab, study groups, advising sessions, submission of quizzes, exams, lab work). In cases where a student is unable to visit the office, the effective date will be the date the student makes known their intent to withdraw.
The percentage of the semester completed is calculated by dividing the number of days enrolled, beginning with the first day of classes, by the number of calendar days in the semester, including weekends and holidays, but excluding breaks of five or more consecutive days. For example, if there are 105 calendar days in a semester and students withdraw on the 50th day, they will have been enrolled for 47.6 percent of the semester (50 days divided by 105 days); consequently, these students would be responsible for payment of 47.6 percent of the total amount due. They would be refunded any amount paid over 47.6 percent.
Return of Title IV Funds Policy
The Office of Financial Aid is required by federal law to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed or take a leave of absence, once 60% of payment period is completed and all aid has been disbursed. The Return of Title IV Funds Policy applies to all students who have, or could have been, disbursed federal funds. In accordance with federal regulations, the institution and the student are required to return unearned portions of Title IV assistance.
The return of the funds is based upon the percentage of time the student was at the College. The withdrawal date used to determine the refund is the date the student began the college’s withdrawal process. When the student withdraws during his payment period (semester), the amount of Title IV funds he has earned up to that point is determined by the Federal Return of Title IV funds formula:
Percentage of payment period or term (semester) completed = the number of days completed up to the withdrawal date divided by the total days in the payment period of term. (Any break of five
29