If you withdraw from all classes before the 60% point in the term, you may owe part of the Federal Aid you received (also known as Title IV funds) — back to the Federal Government.
For Fall 2012 students that drop all classes before October 29 may be required to repay a portion of the Federal aid that they received.
For Spring 2013: students that drop all classes before April 22 may be required to repay a portion of the Federal aid that they received.
Note: If you do not return this money, SMC will have to report you to the Federal Government and you will become ineligible for Federal Aid!
What happens if I drop classes after I receive my financial aid check(s) — but do not drop all classes?
Your Pell, Cal Grant, and SEOG eligibility for a term is based on your enrollment level on the Financial Aid Census Day — which will be in the 10th week of the Fall term and the 11th week of the Spring term.
If you receive your first payment based on an enrollment level of full time, 3/4 time, or 1/2 time — and then drop to “less than 1/2 time” before the Financial Aid Census Day . . . you will be considered to have been overpaid. The difference between your “less than 1/2 time” eligibility and what you were already paid—must be repaid!
Note: Students that do not repay their overpayment will have a hold placed on their records!
Note #2: Students with EFCs in the 4996 to 4401 range--who go from full time to 3/4 time or from 3/4 time to 1/2 time before the Financial Aid Census Day may also be in an overpayment status!
Continue on to Section 9 ...