Financial Aid Withdrawal
Orangeburg-Calhoun Technical College recalculates federal financial aid eligibility for students who withdraw from the college prior to completing 60% of the term in accordance with the Return of Title IV Federal Funds regulations. The recalculation is based on the percent of earned aid for the term. The percent earned is determined by the number of calendar days completed divided by the number of calendar days in the term.
For example, if a student completes 20% of the semester, the student will earn 20% of the aid he/she was originally scheduled to receive. This means that 80% of the aid is unearned and must be returned to the U.S. Department of Education leaving the student with an outstanding balance at the College. Students will not be able to register for future classes or receive a college transcript until the balance is paid in full.
Federal Financial Aid includes: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Iraq and Afghanistan Service Grant, Federal Direct Loans (subsidized and unsubsidized), and Federal Direct Plus Loans.
A student’s withdrawal date is defined as the last date of attendance or academically related activity (LDA) in class. In circumstances where the LDA cannot be determined, the official withdrawal date will be the date the student began the official withdrawal process or provided official notification to the institution of his or her intent to withdraw.
A Federal Financial Aid recipient who does not officially withdraw from the College and no official LDA can be determined will be considered as having completed 50% of the semester for calculating the amount of aid to be returned to the Federal Government and will not be eligible for a refund based on the College’s refund policy.
A return of federal financial aid calculation will also be processed for students who receive all or any combination of Fs, WFs, WPs, or Ws as a result of non-attendance. A student’s Federal Financial Aid eligibility must be recalculated for students who withdraw, drop out, or are dismissed prior to completing 60% of a semester as determined by the withdrawal date.
Unearned funds must be returned no later than 45 days from the determination of a student’s withdrawal date and will be returned in following order:
• Unsubsidized Direct Loans
• Subsidized Direct Loans
• Direct Plus Loans
• Federal Pell Grants
• Federal SEOG
• Iraq and Afghanistan Service Grant
The debt from a financial aid recalculation must be paid in full before you are allowed to register for future semesters or seek other resources from the college. If this debt is not paid to the college within 45 days from the date of the notification to the student, the college will report it to a national database. This will prohibit the student from receiving federal or state financial aid at any other college of university in the United States until the full balance is paid to OCtech. The student must then submit a copy of the receipt showing the balance paid in full to the OCtech Financial Aid Office for the debt to be removed from the national database. The college will place a hold on the student's records until the payment is received. The same policy will apply to students who receive all or any combination of F's, WF's, WP's or W's as a result of non-attendance.