Policy on Return of Title IV Funds

Refunds

Federal regulations require TBCC to have a fair and equitable refund policy for students receiving financial aid who officially or unofficially withdraw from all classes. Withdrawing (or non-attendance) may result in financial debt for the student and may also make the student ineligible for future financial aid (including work study and loans). We strongly urge students to consult with a career education advisor and financial aid advisor to assist with decisions about withdrawing. TBCC’s Refund policy is included in the Schedule of Classes in the section “Payment.” The Schedule of Courses can be found at www.tillamookbaycc.edu. Hard copies are available at the Student Services Office and a copy is mailed to each residential listing in Tillamook, County.

Financial Consequences of Withdrawal or Passing No Classes

Federal regulations assume that students earn financial aid over the course of a term by attending and participating in classes. Students cannot earn all their funds unless they maintain attendance and class participation for more than 60 percent of the term. This calculation counts all calendar days including the first and last day of each term, weekends and holidays. “No passed classes” is defined at TBCC as W, NP, F, AUD and drops.

The portion of financial aid grants and loans funded, which must be returned to the financial aid accounts, will be determined on the student’s date of withdrawal as identified by the college based on one of the following:

• The date the student submits the completed Withdrawal form, or
• The midpoint of the term, if the student didn’t officially withdraw, or
• A date documented by the college.

Calculating the Percentage of the Enrollment Period Earned:

Divide the number of days attended by the number of days in the term (including weekends and holidays). Calculation of the portion of financial aid earned up to the 60 percent point in time begins by

1. Subtracting the percentage earned from 100 to determine the percentage of unearned aid. If withdrawal occurs after the 60 percent date, the student earned all of the financial aid received and no refund will be required.
2. Multiply the total federal financial aid by the calculated percentage unearned. This reflects the total amount of unearned federal aid.
3. Subtract the unearned amount of institutional costs from the total amount of unearned aid, and this will equal the amount of federal financial aid the student will be responsible for repaying.

The student will be notified in writing identifying the portion of unearned aid the student is responsible to repay.