Withdrawing and Refund Policies

Financial Aid Withdrawal Policy

The following policy regarding financial aid is based on federal regulations.  The amount of your financial aid award is based on attending the entire semester. If you stop attending all of your classes (officially or unofficially), a return of funds calculation will be processed based on your last date of attendance and your award eligibility may be adjusted. This may result in a bill owed to STCC.

If you withdraw from school, you must fill out a college withdrawal form available in the Registrar's Office.  Please indicate your last date of attendance on the form.  This is the date the financial aid refund calculation is based on.

STCC does not have an attendance policy. However, the institution monitors attendance based on mid-semester and final grades. If you are not passing any of your classes and your professors report a last date of attendance prior to the end of the fifth week, Student Financial Services will assume you are no longer attending and process the calculation. If no last date of attendance is reported, we will contact your professor. If the last date of attendance cannot be determined, the return of funds calculation will be processed at 50%.  Whether the withdrawal is official or unofficial, once the institutional last day of attendance has been established, the refund calculation will be processed within 30 days from the time the date has been confirmed. Funds will be returned within 45 days of the confirmation of the last date of attendance.  The funds are returned in the following order: Unsubsidized Stafford loan, Subsidized Stafford loan, Direct PLUS loan, Pell, SEOG, and Iraq/Afghanistan Service Grant.

Return of Title IV Funds Policy

Students who withdraw from classes beyond the 60% point in the semester will have earned 100% of their financial aid.

If a student has not yet received the full amount of aid that they are eligible for at the time of withdrawal, they may be eligible for a post-withdrawal disbursement.  If this disbursement includes a loan, the student will be notified that written permission for the loan disbursement is required from the student.

After the refund calculation is processed, the student will receive notification of their new revised award amounts.  It is the student's responsibility to pay any outstanding debt owed to the institution.  A hold will be placed on the student's account and they will not be allowed to register for classes until their outstanding bill is paid. If a student's loan disbursement has been reduced, that portion will be returned to the Department of Education which will then reduce the student's overall indebtedness.

Example:  A student is registered for 9 credits during the spring semester.   His original award was a Federal Pell Grant for $2166.   He stopped attending classes 3/11/13, completing 25 out of 105 days in the semester.  He earned 23.80% of his Pell Grant adjusting his award to $515.71.  STCC returned $1650.29 to the Federal Government and the student now has an outstanding bill.  A letter is mailed to the student notifying him of the calculation and his revised award letter.

School Tuition Refund Policy

Tuition refunds are made only to those students who officially withdraw during the refund period (see below) from the College.  In order to do this a student must complete a withdrawal form, which is available from the Registrar's Office.  The College will, thereupon, refund a portion of the student's tuition and fees according to the following schedule:

Fall and Spring Full Term refund policy:

  • Withdrawal during the 1st week of classes - 100% (tuition and fees)
  • Withdrawal during the 2nd or 3rd week of classes - 50% (tuition, Gen. Ed fee and capital improvement fee only)
  • Withdrawal after the 3rd week of classes - No refund

Fall/Spring Flex-Term refund policy:

  • Withdrawal during the 1st week of classes - 100% (tuition and fees)
  • Withdrawal during the 2nd week of classes - 50% (tuition, Gen. Ed fee and capital improvement fee only)
  • Withdrawal after the 2nd week of classes - No refund

 Summer and Winter refund policy:

  • Withdrawal on or before the 1st day of classes - 100% (tuition and fees)
  • Withdrawal on the 2nd, 3rd or 4th day of classes - 50% (tuition, Gen. Ed fee and capital improvement fee only)
  • Withdrawal after the 4th day of classes - No refund

 

 

Refund checks and E-checks

In the absence of a written third party contractual agreement stating otherwise, all refunds will be issued to the student.  An exception is made for Parent Loans requested through Student Financial Services.  Credit card payments will be refunded directly to the credit card if processed within thirty days of the payment.

Get your refunds faster with E-Refunds

STCC students now have the option to receive all refunds (including financial aid) faster and easier by signing up for Electronic Refunds. Instead of mailing a check, an electronic deposit will be made directly to the student's bank account.  This eliminates paper checks and allows students to access their refunded money faster and easier.

How it Works

Once the E-Refund is processed, an email will be sent to the student's STCC email account notifying them that the refund is on its way to their bank account.  Refunds may take up to two business days to settle in a student's bank account.

After a student signs up for the E-Refund option, their bank information will stay in the system and all refunds will be issued to that account.  If a student's banking information changes, they MUST update it through the STCCnet Portal.  Failure to update bank information will delay the refund process. E-Refunds will be rejected and a paper check will be issued. 

Please note: STCC reserves the right to send paper checks instead of E-Refunds at any time.