Cochise College

CATALOG 2014-15

Federal Title IV Financial Aid Refunds

Students who receive federal financial aid funds are subject to the federal refund policy. Students who completely withdraw before completing 60 percent of the term are subject to this policy and may owe a repayment of the unearned portion of their grant funds. Students have 45 days to return the funds to Cochise College. If repayment is not made during the 45 days, the repayment owed will be turned over to the Department of Education for collection. Once a repayment is turned over to the Department of Education, eligibility for additional federal aid is suspended until satisfactory payment arrangements are made.

Pell grants and SEOG are subject to this repayment provision. Students who have received student loan funds are responsible for completing an exit interview and for notifying their lender of the withdrawal. The federal work-study program is not subject to the refund policy.

The withdrawal date is the date:

  • The student began the withdrawal process prescribed by the institution,
  • The student otherwise provided the school with official notification of the intent to withdraw, or
  • For the student who does not begin the school’s withdrawal process or notify the school of the intent to withdraw, the midpoint of the payment period or period of enrollment for which Title IV assistance was disbursed (unless the institution can document a later date).

The percentage of the payment period or period of enrollment completed for which assistance was awarded is calculated by dividing the total number of calendar days comprising the payment period or period of enrollment for which the assistance is awarded into the number of calendar days completed in that period as of the day the student withdrew.

For additional policy and regulatory information, contact the Financial Aid Office.