Terms
and Conditions of a Financial Aid Award
Attendance Sheets: A student is required to attend class in order to be eligible to receive federal financial aid. Those students, who never attend the classes for which they have registered or attend the first day but never appear for subsequent class sessions, are not eligible to receive federal financial aid. The Financial Aid Office must know if a student has fulfilled the class attendance requirement before any excess financial aid funds may be released to the student. The student needs to attend two class sessions for each class for which they have enrolled. The two dates of attendance are recorded on the Attendance Sheet under the Instructor Section. Once the student has attended a class twice the instructor may sign the Attendance Sheet which verifies the student has indeed attended the class twice and will not be listed as a “no show”. Once all of the student’s instructors have signed his/her Attendance Sheet, the student should sign the sheet in the space provided at the bottom and then submit it to the Financial Aid Office. Sheets will not be accepted unless they have been properly completed.
Determination of Awards: Within its available resources, Isothermal Community College attempts to meet the financial need of its students. A student’s financial need is determined by subtracting the parent’s and/or student’s contribution, as shown on the Student Aid Report, from the total estimated cost of attendance. In most cases, the total financial aid awarded will not exceed the student’s documented financial need.
Outside Awards: Students receiving aid from sources outside the institution, such as a private scholarship, are required to notify the Financial Aid Office so that this aid can be coordinated with other assistance.
Enrollment Status: Many financial aid awards are based on a student’s enrollment status. To be classified as full-time, the student must be registered for 12 or more credit hours. Registration for 9 to 11 credit hours is considered to be a ¾ time enrollment status. A ½ time enrollment status is defined as being registered for 6 to 8 credit hours while less than ½ time is defined as being registered for 1 to 5 credit hours. The enrollment status of vocational students is measured according to contact hours. Using contact hours, full-time is 23 or more, ¾ time is 17 – 22, ½ time is 12 – 16, and less than ½ time is 11 or below. For the Pell Grant, enrollment status is measured at the census date as published in the college catalog. Only classes required by the student’s program of study and developmental classes will be counted towards their enrollment status. (Note: If the student changes his/her program of study, it may affect their enrollment status and the amount of aid they are eligible to receive). The above definitions apply to all terms.
Changes: A student should notify the Financial Aid Office in writing of changes in his/her name, address, home telephone number, academic program, or enrollment status. He/She is required to notify the Financial Aid Office if withdrawing from all classes (see Return to Title IV below).
Review and Adjustment of Award: The Financial Aid Office reserves the right to review and adjust or cancel an award due to changes in financial, enrollment, program, or academic status. Awards also may be adjusted or canceled if an error is made in determining eligibility for aid or calculating the amount of aid or if information on the application or need analysis is determined to be incorrect.
Return to Title IV: If a student withdraws from all of their courses (official withdraw), receives a failing grade in all of their courses (unofficial withdraw), or has a combination of all withdraws and failing grades, a Return to Title IV refund calculation must be preformed. This calculation determines the amount of funds the college and the student must return to the U.S. Department of Education. Any funds returned by the college will cause the student to owe the college. Students are notified in writing when this calculation indicates funds must be returned. For further details please refer to the sheet titled Return to Title IV Refunds included in the award letter packet.
Federal, State, and Institutional Funds: Federal, state, and institutional funds committed in this award are contingent upon actual receipt of funds by Isothermal Community College. Additionally, all awards are subject to funding and program regulations relative to the individual program or award granted to the student.
Repayment: Any student who withdraws from school, reduces the number of credit hours carried, is withdrawn from classes, or takes courses outside his/her specified program of study, may have to repay all or a portion of his/her award.
Failure to Return to School: Many awards are based on continuous enrollment. These awards may be canceled for students who fail to enroll for a subsequent semester.
Payment of Federal Work Study: If the award includes employment under the Federal Work Study Program (FWSP), the amount shown for this category is the amount the recipient is estimated to earn during the award period as a result of work performed and the hours necessary to perform such work. This amount cannot be exceeded. FWSP awards are paid monthly based upon the number of hours worked. Time sheets must be maintained (see your FWSP supervisor). These sheets are due in the Business Office at the end of each month unless advised otherwise by Business Office personnel. Federal Work Study awards can be changed if the minimum wage rate changes during the academic year. Awards can be canceled if the recipient fails to perform the assigned work in a satisfactory manner.
Payment of Pell Grant Award: The total scheduled Pell Grant award is divided between the fall and spring semesters. A portion of the award will be paid summer semester only if the student did not attend or attended on a less than full-time basis during the fall and/or spring semester. Tuition and fees are charged to the grant each semester. Required books and supplies also may be charged during scheduled periods as posted by the Bookstore. A check is written to each recipient for the balance of the grant (if any) not used for tuition, fees, books, and supplies. The date the checks will be available each semester will be no later than 14 days after the census date. Checks are disbursed by the Business Office. Students must turn in an Attendance Sheet each semester before their check can be released. The scheduled award will be amended if enrollment status changes during pre-registration, registration, or schedule adjustment days.
Payment of Other Awards: Other grants and scholarships are disbursed to the student as follows:
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Federal Supplemental Educational Opportunity Grant (FSEOG), North Carolina Community College Grant (NCCCG), North Carolina Student Incentive Grant (NCSIG), North Carolina Education Lottery Scholarship (NCELS), and Wachovia Technical Scholarship: These awards may be canceled for students who fail to enroll for a subsequent semester. Students will be notified by mail when checks are available. |
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Institutional Scholarships: You will be notified when you can pick the check up at the Business Office in the Administration Building. |
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Most other scholarships: As stipulated by the rules and regulations governing the individual scholarship program. |
Re-Application: The continuation of financial aid from year to year is not automatic. If you plan to be enrolled in college next year, you must re-apply for financial aid. The new Free Application for Federal Student Aid packets should be available in the Financial Aid Office by mid January of each year.
