Federal Return of Federal Title IV Funds Policy
The Financial Aid Office recalculates federal financial aid* eligibility for any student who completely withdraws, stops attending classes, or is dismissed during the semester, prior to 60% of the semester being completed. Recalculation is based on the percent of earned federal financial aid using the following formula:
% earned = number of days completed up to the withdrawal date** divided by total days in the semester
Federal financial aid is returned to the federal government based on the percent of unearned aid using the following formula:
aid to be returned = amount of Federal Title IV Aid disbursed minus Federal Title IV aid earned
When federal financial aid is returned, the student may owe money to MCC and may also owe funds to the federal government. Students should contact the Student Accounts Office regarding any money owed to MCC.
*Federal financial aid for this calculation at MCC includes Federal Pell Grant, FSEOG, Federal Direct Student Loans and Federal Plus Loans.
**Withdrawal date is defined as the actual date the student began the withdrawal process (Please see the MCC catalog for official withdrawal procedure), the student's last date of recorded attendance or the midpoint of the semester for a student who leaves without notifying MCC.
*** For students who receive all F's or a combination of F's and W's, the Financial Aid Office will confirm the last date a student attended and will return funds if the last date of attendance is prior to the 60% point of the semester. The return of funds in this case would occur after the semester is over and students will be notified via e-mail if they have had a recalculation performed, and if so, will be billed by the Student Accounts Office.