Students receiving federal student aid who begin attending classes during the enrollment period (semester) but cease attending or being involved in academic activities prior to the end of the semester will be subject to a review of financial aid eligibility under the Return to Title IV policy.
If a student chooses to cease attendance at Jones Colleges before the semester ends, students should follow the college’s withdrawal guidelines.
A record of a student withdrawing from Jones College is not complete until they have officially withdrawn with Enrollment Services. An official withdrawal form is available in Enrollment Services on the first floor of the Terrell Tisdale Library. If a student does not go through the official withdrawal process, students will be dropped based on the Jones College attendance policy.
Students who attend less than sixty (60) percent of the semester, will be subject to a prorated calculation of financial aid eligibility. The determination of the percentage earned is based on the enrollment start date, enrollment end date and the number of days attended based on the last date of attendance of all courses enrolled.
If a student ceases attendance, whether officially or unofficially, after their funds are disbursed, Jones College’s Office of Financial Aid will return the unearned funds as obligated by the institution. Students could have to return additional funds if the student received more funds than earned.
If a student ceases attendance, whether officially or unofficially, before their financial aid has been disbursed, students will be subject to a post-withdrawal disbursement based on the percentage of time attended. Federal loan post-withdrawal disbursements require the student/parent to accept the loans to receive the post-withdrawal disbursement. The letter of acceptance will be mailed to the student’s assigned Jones email or the parent’s email provided on the Parent PLUS Loan application. The acceptance will need to be returned to the Office of Financial Aid. If no action is taken, the funds will be cancelled.
The funds will be applied to the student’s account on the scheduled disbursement date. For Pell Grants, any access of funds that result in a refund to the student will be applied to the student’s refund method chosen with BankMobile. The refund will be released within fourteen (14) days of the disbursement date. Any refund as of the result of a student loan will be applied to the student’s refund method within three (3) business days of the disbursement date. Parents will receive their refunds by mail to the address provided on the Parent PLUS loan application.
The Return to Title IV calculation will be completed within thirty (30) days of the date it was determined the student withdrew from the semester. Any return to Title IV adjustments or payments will be made within forty-five (45) days of the date it was determined the student withdrew.
Unearned funds as of the outcome of the return to Title IV calculation will be returned in the following order:
· Williams D. Ford Federal Direct Loan(s)
o Unsubsidized Direct Student Loan
o Subsidized Direct Student Loan
o Direct PLUS (Parent) Loan
· Federal Pell Grant
· Federal Supplemental Educational Opportunity Grant (FSEOG)
Return of Title IV Funds
The U.S. Department of Education’s Higher Education Amendment Act of 1998, requires that a school return all unearned Title IV aid when recipients cease attendance during the enrolled semester(s). Students who withdraw from all classes prior to completing more than 60% of an enrollment term will have their aid recalculated based on the percentage of the term completed. Federal Title IV Financial Aid includes: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Direct Student and Parent PLUS Loans.