Refunds

Withdrawals and Refunds

Alabama Community College System Policy

Students or their sponsored agencies (other than Title IV students) will be refunded
according to the following schedule:

Administrative Fee

To drop or withdraw from courses in which they are enrolled, students may secure the appropriate forms from the Office of Admissions. The student must then obtain signatures from
all instructors whose classes are involved, from the Office of Financial Aid, from the Learning Resource Center and from the Business Office. A scholarship student must also secure the signature of their scholarship supervisor. When the student has all the required signatures, the form must be returned to the Office of Admissions. Once data is entered into the system,
a student refund is set up to be paid at the published date in the class schedule. Drops and withdrawals are not official until all steps are completed. Net refund paid is tuition and fees less 5% administrative fees. Refund checks will be mailed from the Business Office to the student at the address on file in the Office of Admissions or issued by direct deposit to the bank account on file in the student’s Private Web College Accounts.

Federal Title IV Refund and Repayment Policy

Following Federal regulations, those students who receive federal financial aid and officially withdraw from the College (all classes) during the first 60 percent of a term will have their federal financial aid adjusted. Schedule adjustments during drop/add periods are not considered withdrawals. A student may withdraw before the last day of class before any final exams for any semester or term. These dates are published on the College schedule and calendar. Students withdraw via the online process. It is the student’s responsibility to know the dates, process, and consequences for withdrawing. Students may contact the Financial Aid Office at 334-291-4914 or email finaid@cv.edu.

The adjustment is based on the percentage of calendar days used in the academic period. This percent is calculated by dividing the number of days in the term (excluding breaks of five days or longer) into the number of days completed before the withdrawal (excluding breaks of five days or longer). The date of withdrawal will be the date the student begins the withdrawal process unless there is documentation of class attendance beyond that date at which the last date of attendance as reported by the instructor is used.

Attendance is tracked electronically for students taking Distance Education courses. Distance Education students should follow the official withdrawal procedure and base their official withdrawal date on their actual last date of attendance (i.e. course participation). There will be no adjustment to federal financial aid after the completion of at least 60 percent of the term.

A student who receives all “F”s or all “W”s, and whose last day of attendance was before the 60 percent date of the term, will have their federal aid adjusted as stated previously. The last date of attendance as reported by the instructor is used to determine the percent of the term attended. These adjustments occur within 45 days of the end of the term.

The Banner student system will be used to determine the amount of federal funds to be returned based on the official withdrawal record. Once calculated, the funds will be returned in the following order:

• Unsubsidized Stafford Loans
• Subsidized Stafford Loans
• PLUS Loans
• Pell Grants
• Supplemental Educational Opportunity Grants

Students who completely withdraw from the College may owe a repayment of federal financial aid funds to the College. If necessary, students will be billed by the Business Office. A return of Title IV aid may result in a hold on the student’s account, preventing the student from enrolling in additional classes and being eligible for federal aid until the balance on the account is paid. Also, if student accounts are not paid to the College promptly, the accounts will be turned over to a collection agency and will be reported to the Credit Bureau. All students with accounts turned over to collections will be responsible for paying any collection costs.

Post Withdrawal Disbursement

If the student did not receive all of the funds that were earned before withdrawing, a post-withdrawal disbursement may be due. If the post-withdrawal disbursement includes loan funds, the student must give permission before the funds can be disbursed. CVC may automatically use all or a portion of the post-withdrawal disbursement of grant funds for tuition and fee charges. Permission is required to use the post-withdrawal grant disbursement for all other school charges. Students will be notified of post-withdrawal disbursement eligibility within 30 days of the date of withdrawal determination. The school must return the Title IV funds within 45 days of the date the school determines the student withdrew.

A credit balance that occurs as a result of a post-withdrawal disbursement will be refunded to the student or parent (PLUS loans) as soon as possible, but no later than 14 days after the credit balance occurs on the student account. Students may set up direct deposit in CVCC Pirate Portal Self-Service.

Student holds/Delinquent Accounts

Barnes & Noble Bookstore, Office of Admissions, Business Office, Learning Resources Center and Parking “holds” will prevent students from registering, obtaining or sending College
transcripts receiving grades or receiving student payable checks. If a student has a hold on their account, it should be cleared immediately.