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Wallace Community College Selma > Refunds

 
 

Refunds

 
 

Official Withdrawal

  • Depending upon the date of withdrawal, one of the following situations will apply:
    • If the semester has not yet begun, and you cancel your registration, no financial aid will transmit to your account. You should receive no bill for that term/semester. However, failure to cancel your registration and failure to attend classes will result in the cancellation of your financial aid and you will be responsible for 100% of all charges.
    • If you officially process a withdrawal from the College after the first week of classes, but before the Census (the day after the last day of drop/add), no financial aid will transmit to your account. You will be billed for 100% all charges for that term/semester.
    • If you officially process a withdrawal from the College after Census (the day after the last day of drop/add) but before the 60% point of the term/semester has lapsed, The financial aid office will recalculate your Title IV Aid based on the Federal Return of Title IV Formula. You will be responsible for any balance.
    • If you officially process a withdrawal from the College after the 60% point of the term/semester, you will not be required to return any Title IV Aid you received for the term/semester.
  • Courses attempted prior to withdrawal from the College will count in the calculation of Satisfactory Academic Progress. Satisfactory Progress is calculated annually and is checked after Spring Semester. You could be denied future aid if you do not meet our Standards of Academic Progress.

 

Unofficial Withdrawal (Dropping Out)

  • If you stop attending classes and do not initiate an official withdrawal, it is unlikely that you will receive passing grades for the semester and will incur significant financial penalties, including full or partial cancellation of the financial aid you received for the semester. Because of this, it is CRITICAL that you initiate an official withdrawal prior to the end of the semester.
  • Courses attempted prior to withdrawal from the College will count in the calculation of Satisfactory Academic Progress. Satisfactory Progress is calculated annually and is checked after Spring Semester. You could be denied future aid if you do not meet our Standards of Academic Progress.

 

Title IV Funds

Funds governed under Title IV of the Higher Education Act. Title IV Funds include:

  • Federal Pell Grants
  • Federal Supplemental Educational Opportunity Grants
  • State Grants
  • Federal Work-Study

For purposes of complete withdrawal and the Return of Title IV Formula, Federal Work-Study is not considered. However, in ALL complete withdrawal cases, you cannot continue to work under the Federal Work-Study Program after your date of withdrawal.