Refund Policy for Return to Title IV
According to the provisions of the Higher Education Amendments of 1998, if a student withdraws or stops attending all classes on or before the 60% point of the period of enrollment (calculated using calendar days) or does not officially withdraw from the institution by mid-point of the semester and receives all "F's", a portion of the Title IV funds (Pell Grant, ACG, SEOG, and Stafford Loan) awarded to the student must be returned.
The calculation of the return of these funds may result in the student owing a balance to Amarillo College and/or the Federal Government. It is the student's responsibility to officially withdraw from all classes he/she does not attend.
The 60% date for 16 week classes (Aug. 25-Dec. 12) is October 30, 2014.
The 60% date for Fall Too classes (Oct. 20-Dec. 12) is November 21, 2014.
Students who are no longer attending six credit hours at the time loan funds are disbursed are not eligible to receive those funds (inadvertant overpayment). The loan will be cancelled, and all loan funds disbursed to the student will have to be repaid to Amarillo College.
Students are strongly encouraged to contact the Financial Aid Office prior to dropping any classes of which they have received financial aid funding. Students will not owe funds if they drop all classes after the 60% date.
Students can access specific class information by logging into AC connect, under the Self Service block, click on "Current Student", "Academic Profile", and “My Important Course Section Dates”. Here students can view class start and end dates, census dates, and refund periods.
Repayment agreements with the Department of Education will include terms that permit students to repay overpayments while maintaining their eligibility of the Title IV funds. However, school's repayment arrangments with students must provide for complete repayment of the overpayments within two years of the date of the institution's determination that the student withdrew.
If a student does not take positive action during the 45 day period, the student becomes ineligible for Title IV funds on the 46th day from the date the school sends a notification to the student of the overpayment; or the date the school was required to notify the student of the overpayment. The student will remain ineligible until the student enters into a satisfactory repayment agreement with the Department of Education.
A student can contact ED collections by calling 1-800-621-3115, by sending an e-mail to DCS_HELP@ed.gov, or by writing to:
National Payment Center
P.O. Box 4169
Greenville TX 75403-4169