Financial Aid & Scholarships Title IV Refund Policy

Financial Aid

ApplicationSchool Code
FAFSA006788
TAP2260

 

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Contact

Phone

Tompkins Cortland Community College
170 North Street, P.O. Box 139
Dryden, NY 13053

Location

Main Campus
101

Hours

  • MON   8 a.m. - 4 p.m.
  • TUE    8 a.m. - 6 p.m.
  • WED  8 a.m. - 4 p.m.
  • THU   9 a.m. - 4 p.m.
  • FRI     8 a.m. - 4 p.m.
  • SAT   Closed
  • SUN  Closed

The U.S. Department of Education assumes that you earn your aid based on the period of time you remain enrolled. During the first 60 percent of the semester you earn Title IV funds in direct proportion to the length of time you remain enrolled. A student who remains enrolled beyond the 60% point earns all aid for the semester. Unearned funds must be returned to the U.S. Department of Education. 

The key to determining the period of enrollment is the withdrawal date. The percentage of the period that you remain enrolled is derived by dividing
the number of days prior to the withdrawal date by the number of days in the semester.

If, after returning unearned financial aid, there is insufficient financial aid to cover your charges, you will owe a balance to Tompkins Cortland Community College.

The College has 30 days to perform the Return of Title IV calculation from the date that they are notified you withdrew, and are required to return any unearned aid no later than 45 days from the date the College determines that the student withdrew.

The College follows the Department of Education’s order of return of Title IV funds to the programs from which the student earned aid. Unearned federal aid is returned in the following order:

  1. Unsubsidized Direct Student Loans
  2. Subsidized Direct Student Loans
  3. Direct PLUS Parent Loans
  4. Federal Pell Grant
  5. SEOG