Return of Title IV Funds
Federal regulations require the college to have a fair and equitable refund policy for students receiving financial aid who officially or unofficially withdraw from all classes.
Withdrawing (or stopping attendance) may result in financial debt for you to repay and may also make you ineligible for future financial aid (including loans) due to a lack of academic progress. We strongly urge you to consult with an academic advisor, a counselor, or contact your Financial Aid Advisor to help you with decisions about withdrawing.
Questions about RCC's Return of Title IV Policy:
- How can I completely withdraw from all my classes?
- What is RCC's Refund Policy?
- What is RCC's Return of Title IV Funds Policy?
- When can I withdraw without owing money back?
- How does the withdrawal process work?
- What is a "Withdrawal Date?"
- What is an "Unofficial Withdrawal?"
The deadline to drop term-length classes, and not be charged for them, is the second Monday of each term. At this time RCC refunds 100% of your applicable term's tuition charges. For financial aid students, all refunds will first be applied back to federal programs and then any excess, representing "Cash" paid will be given to the student. For per term deadlines, refer to the Schedule of Classes.
In general, federal regulations assume that you "earn" federal financial aid in direct proportion to the percentage of the term you complete (number of term calendar days before a student withdraws divided by the number of calendar days in the term). If you completely withdraw during a term, the College must calculate, according to a federally-mandated formula, the portion of the total scheduled financial assistance earned, and therefore entitled to receive up to the time of withdraw. If you or RCC receive more assistance than is earned, the unearned excess funds must be returned to the U.S. Department of Education (USDE). On the other hand, if less financial assistance was received than the amount earned, additional funds may first be applied toward outstanding institutional charges and any excess paid to you.
The portion of your Federal student aid you are entitled to receive is calculated on a percentage basis by comparing the total number of days in the term to the number of days you complete before withdrawing. For example, if you complete 30% of the term, you earn 30% of the assistance you were scheduled to receive. In this example, 70% of your scheduled award(s) remains unearned and must be returned to the USDE.
Once you have completed 61% or more of the term, you have earned all (100%) of your financial assistance. If you withdraw before you have completed 61% of the term, you may have to repay any unearned financial aid funds that were already disbursed.
If you completely withdraw, earned aid will be calculated based on the percentage of the term you completed, resulting in possible repayment of any unearned aid. You should check with your Financial Aid Advisor regarding the deadline to withdraw for a specific term as well as the ramifications to your future aid eligibility and potential repayment of aid.
The date you officially withdraw from all credit courses online.
When you are no longer actively participating in a term, resulting in all F, NP, and/or W grades. The later of the midpoint of a term or your last date of attendance (for online courses, the last day you submitted an assignment or test). Aid is adjusted down for non-attendance.