Disbursement of Financial Aid Funding
Eastland-Fairfield Career & Technical Schools disburses federal student aid in the form of Pell Grants and Direct Student Loans to eligible students after the program begins and when each student has completed half of the program's hours. In each disbursement, the school makes available half of the Pell Grant award and half of the loan funds a student requests from federal student aid. Typically, the first disbursement takes place within 30 to 40 days of the start of the class.
Students must be enrolled in Title IV-eligible programs to receive federal student aid. After aid amounts have been determine, students must complete, sign, and submit all federal aid and registration paperwork before federal aid is disbursed. This can include:
- registration fee
- student profile
- inoculation documentation
- background check
- proof of completion of high school, G.E.D., or homeschool programs
- worksheets and IRS tax transcripts if your FAFSA has been selected for Verification
How are funds disbursed?
Funds are disbursed from federal sources by the school's Treasurer's Office using information created by the Financial Aid Administrator and the school's Billing Specialist. Prior to the disbursement, the Administrator creates Pell Grants and Direct Loans in the federal Common Origination Document web site and determines when the Treasurer should request the funds.
When funds are going to be requested, the Billing Specialist determines how much of the student's disbursement should be applied to bills that the student owes the school. The disbursed financial aid the school receives is applied to the student's tuition account.
If funds remain after paying the tuition account, that amount is mailed to the student in the form of a check.
Withdrawal and the Return of Unearned Funds
Withdrawal is defined as the student voluntarily ceasing enrollment in any program. Withdrawal can occur at any time after the student begins training and prior to the final day of the program. Students planning to withdrawal must notify the Adult Workforce Development Office by filling out a Withdrawal Form. Non-attendance does not constitute an official withdrawal. If the student is incapacitated because of health or other reasonable concerns, a verbal notice will be considered.
An unofficial or involuntary withdrawal occurs when a student does not attend school for five (5) consecutive days and does not notify the school of his/her intention to return. When the school discovers that a student's absences have caused an involuntary withdrawal, a return calculation will be performed based upon the student's last date of attendance.
Return of Title IV Policy and Calculations
When a student withdraws or is terminated, the school will calculate the amount of funds due to be returned to the Federal financial aid program. Federal student aid regulations are the first things to be considered in the calculations. After the Federal calculation, the school's refund policy will be used to determine how to handle the funds that are to be returned to the U.S. Department of Education.
Students who are eligible to receive Pell Grants or Direct Student Loans earn these funds by continuing their enrollment. When a student withdraws, or is withdrawn by Eastland-Fairfield Career & Technical Schools, the school uses the current payment period to determine the percentage of class hours the student was enrolled. The amount of aid the student has earned is calculated per the Federal Return to Title IV Funds policy.
Students who are enrolled greater than 60% of the scheduled hours in a payment period earn 100% of the grant or loan funds awarded or requested for that period. If a withdrawn student was enrolled for less than or equal to 60% of the scheduled hours in the payment period, the school will pro-rate the amount of the student's aid by the percentage of enrollment.
Order of the Return of Title IV Funds
If the school disburses grant and loan funds to a student who subsequently withdraws before earning the amount that was disbursed, the overpayment that has been received will be returned in the following order, according to the regulations of Federal Student Aid:
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- Parent Loans to Undergraduate Students (PLUS)
- Federal Pell Grant
Within 30 days of determining that a student has withdrawn, the Financial Aid Office will notify the student of the amount to be repaid. The student has 30 calendar days from the date the notification is mailed to repay the amount owed or to request funds that could have been disbursed but were not.