Students are required to file yearly applications to determine eligibility. The Department of Education uses a standard formula, passed by the U.S. Congress, to evaluate the information determining eligibility. Applications are available on-line at www.fasfa.gov.
POLICY AND PROCEDURES FOR ADMINISTERING THE FEDERAL PELL GRANT/DIRECT LOAN PROGRAMS
After required documentation of Federal Pell Grant information is received, an award based on the designated cost of education is entered into the computer. Students are allowed to register and charge tuition, dorm rent, fees, required books, and supplies to their account.
- Balance Disbursement of Federal Grant/Loan Award Pell Grant
The balance award will be distributed to the student no later than the 14th day of the term. This will be the amount left in the account after tuition, fees, and bookstore purchases have been deducted.
Attendance in ALL classes must be verified before funds will be disbursed. Students who register for a class that begins later than the first day of class for the semester cannot receive a refund for that course if the credit hours in the course change the amount of aid a student will receive. Federal regulations require a student to attend the course prior to being paid for the course. Students may receive Pell Grants while working towards their first baccalaureate degree. Financial Aid Students that are reported as not attending their classes will be “No Showed” from their classes. They will be removed from those classes and financial aid will be adjusted accordingly.
- Direct Loans
Direct Loans borrowers will receive the balance on their account after ALL changes have been paid (tuition, fees, books, dorms, etc.). For students who have previously been a Direct Loan borrower, balance checks will begin disbursing on the 14th day of class. For first time Direct Loan borrowers, balance checks will begin disbursing after the 31st day of class. Attendance in ALL classes must be verified before funds will be disbursed. Students must be currently attending 6 credit hours to receive funds.
Students enrolled in clock hour programs are paid by a different formula per U. S. Department of Education Guidelines because of the type of program. Those programs paying on the converted formula include: PHM, PSG.
- Withdrawal, Drop-Out, or Expulsion Before the First Day of Class
If Wallace State Community College cannot document that a student has attended at least one day of class, any tuition credited to his/her account will be returned in full to the Pell Grant/Loan account. Any funds issued to purchase books, tools, or supplies will be billed to the student, with a request for immediate repayment.
- Changes in Enrollment During the Drop/Add Period
If a student pre-registers, charges books/supplies to his/her account then changes his/her enrollment, causing an insufficient balance in the Federal Pell Awards account to cover all charges incurred for that semester, the student could be dropped without further notice and billed for charges. Title IV Funds will be paid on courses that the students receives a letter grade twice. The third attempt on the class will not be paid. Students that register for courses in subsequent terms, after regular drop/add ends, may not be eligible to receive additional financial aid coverage if they have previously registered for the term. This includes Pell Grant and Direct Loans. Please check with the Financial Aid Office before adding these late courses.
- Withdrawal, Drop-Out Date
The date that the student officially withdraws or is expelled from school, or the date that the school determines that the student has unofficially withdrawn, will be used to determine if a refund should be calculated.
- Refund Policy for Students Receiving Federal Title IV Aid (Higher Education Reauthorization Act of 2006)
The following refund policy is required by federal regulations for students with Title IV Aid who withdraw from all classes at Wallace State Community College. This should not be confused with the school’s refund policy for changes in enrollment status.
- Per Federal Regulations-Higher Education Authorization Bill of 2006
A student who received Title IV Funds (Pell Grant, Direct Loan, or FSEOG) and officially withdraws from all classes prior to the 60% point of the semester may owe money back to the Federal Government and possibly to WSCC. Students who unofficially withdraw (stop attending) from class and do not pass any coursework may owe funds back at the 50% point. Failure to repay the funds immediately will result in an overpayment situation which will make the student ineligible to receive further Title IV aid at WSCC or any other college. (See prior section)