This notice serves to disclose required student consumer information in regards to how withdrawals may affect your Title IV Financial Aid program funds. The law specifies how West Valley College must determine the amount of Title IV funds that a student earns if he/she withdraws from school. The Title IV Financial Aid program funds that are covered by this law are; Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, and Federal Stafford Loans.
When a student withdraws during a payment period or period of enrollment, the amount of Title IV funds that the student has earned up to that point is determined by a specific formula. If the assistance received was less than the amount earned, the student may be able to receive a post withdrawal disbursement. If the student received more assistance than the amount earned, the excess funds must be returned. The school will notify students of any Title IV funds owed.
West Valley College may automatically use all or a portion of a student post-withdrawal disbursement to pay for tuition and fees. For all other charges, the College needs student’s permission to use the post withdrawal disbursement. If a student does not give permission, he/she will be offered the funds; however, it may be in the student’s best interest to allow the school to apply the funds to the student’s account in order to reduce any debt.
The return of funds is based upon the premise the student earns financial aid in proportion to the amount of time in which is enrolled. A student’s withdrawal date for the return of Title IV calculation will be:
- The date the student provides notification to the Admissions & Records Office that he or she intends to withdraw, or
- The midpoint of the semester for the students who do not officially withdraw or
- The date posted by the instructor indicating the student’s last date of attendance in class.
F or NP Grade Disbursement
A student receiving all “F” and/or “NP” grades at the end of the semester is considered to have earned only 50% of the funds disbursed, unless documentation from instructor(s) showing attendance greater than 60% is provided.
For a student who withdraws without providing notification to the College, the College must determine the withdrawal date no later than 30 days after the end of the earliest of the (1) payment period or period of enrollment (as appropriate), (2) academic year, or (3) educational program.
West Valley College must return unearned funds for which it is responsible as soon as possible, but no later than 45 days from the determination of a student's withdrawal.
Any amount of unearned funds that must be returned is called an overpayment. To resolve federal aid overpayment, students must repay the amount due to Accounts Receivable as instructed in the return to Title IV funds communication from the Financial Aid office.
Adjustments are made in the following order until overpayment is corrected:
- Federal Unsubsidized Stafford Loan*
- Federal Subsidized Stafford Loan*
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants
The return of Title IV calculation will determine which portion of the loan is unearned. The unearned portion will be repaid to the school. The earned portion of the loan will be repaid according to the terms of the promissory note.
- Tuition refunds following a student’s withdrawal have no impact on the amount of Title IV Aid that the student has earned under a R2T4 calculation.
- Students must contact the Financial Aid Office BEFORE withdrawing from any or all of the classes in which they are enrolled.