Federal regulations require all college institutions to develop a policy that determines the amount of Title IV grant or loan assistance that a Title IV aid recipient has earned as of the recipient's withdrawal date.  
 
At SBC, federal financial aid will be paid to students on the fourth Friday after the semester has begun and on the first Friday of consecutive months in the term.
In calculating the return of Title IV funds at SBC, the following 8 steps shall be taken:
 
SBC shall collect information about Title IV aid the student received. 
A review of the student's award notification shall reveal information about aid disbursed and aid that could have been disbursed.
 
SBC shall calculate the percentage of Title IV aid earned by the student.  
 

(No Show and Official/Unofficial Withdrawals)

SBC shall use the last day of the third week of each semester or the 3^rd held class session for classes that meet once a week as the census date for determining student enrollment for the fall and spring terms.  For the summer term, the census date shall be the 6^th scheduled class day after classes begin.
 
A student who does not attend any class prior to the census date shall be considered a “no show” and a 100% tuition refund will be issued for the classes not attended.  The student will be billed a “no show” fee of $10.00 per course, a $25.00 registration fee, and the total cost of purchases made at the SBC Bookstore.  Students may return books (no later than mid-term) if the books have not been written in or if the books are still enclosed in the shrink wrap in which they were shipped.
 
If a student attends any class, s/he will be considered to be enrolled in all courses registered in during that term.  Tuition will only be refunded if the student withdraws from a course(s) during the first 3 weeks of the fall or spring semesters or during the first 6 class days of the summer term based on the refund schedule listed below.
 
During Fall and Spring terms the refund shall be calculated as follows:

• 100% refund will be issued the first week of classes
• 80% refund will be issued the second week of classes
• 60% refund will be issued the third week of classes
• 0% refund issued after the third week of classes

 
During the Summer term the refund shall be calculated as follows:

• 100% refund will be issued the first two days of classes
• 80% refund will be issued the third and fourth day of classes
• 60% refund will be issued the fifth and sixth day of classes
• 0% refund issued after the sixth day of classes

 
In the programs offered in modules (Energy Technician, Wind Turbine, and Accelerated Business Administration), 100% of tuition will be refunded if the student officially withdraws from the class prior to the start of the class.  If a student attends class during the first week in any of the modules, no tuition will be refunded for that module.
 
The above policy applies to ALL courses regardless of when they actually begin and also applies to students who do not officially withdraw from all their classes.

 

Financial disbursements will be authorized for payment at the end of week four (4) of the semester and every first Friday in the months following. Federal financial aid funds will only be issued to students who have a completed financial aid file.  Financial Aid files that are completed after the first scheduled disbursement date will be paid out on the next scheduled financial aid disbursement date. Pell grants are paid once per semester unless the student requests more disbursements or another funding source pays for the student’s tuition, books, and fees.
 
If a student’s FAFSA application is selected for verification, no funds shall be issued from Title IV federal financial aid sources until verification is completed.  If selected, students will be notified by the Financial Aid Office.
 
Financial aid disbursements may be issued to students as a debit on their SBC Mazaska Master Card or on their personal bank account debit card.  If a student prefers not to use a debit card, their financial aid will be disbursed by check.
 
Attendance will be verified before financial aid disbursements are authorized.  Funds may be withheld from any student who has not attended class during the two weeks prior to the disbursement date.
 
If there is an issue with a student’s attendance, the debit card will not be uploaded.  Checks will be issued but will not be mailed to the student.
 
Federal Pell grant program requires that the students attend all of their classes to qualify for the payment.  For example, if enrolled full-time (12 or more credit hours), students are required to attend at least 12 credit hours to qualify for the payment.
 
Students enrolled in the CDL certificate and students enrolled in the accelerated Business Administration degree will not receive excess Pell funds until attendance is documented for all the classes in which they are enrolled.
 
Student grades are reviewed by the Financial Aid Director at the end of each semester to determine whether a student is meeting satisfactory academic progress [SAP] standards toward meeting the declared major.
 
A student may be required to repay federal financial aid funds if any of the following situations occur prior to the completion of 60.01% of the semester:

• it is determined that the student did not attend all the classes for which she was paid
• it is determined that the student officially withdrew from all her classes
• it is determined that the student quit attending classes without officially withdrawing from college

 
SBC monitors attendance every two weeks.  Adjustments to Pell will be made if a student stops attending class. If the student is considering withdrawing from classes, it is recommended she visit with the Financial Aid Director to determine how it will affect future financial aid eligibility.
 
Financial aid awards will be paid on the following expenses before funds are issued to the student.

• Current term tuition, books, and fees expenses.  SBC shall grant an extension of credit to students to purchase their books from the SBC Bookstore.  Students may choose not to utilize this option and must notify the financial aid office in writing at least one month prior to the start of the term.  These students may receive excess federal financial aid to purchase their books somewhere else if they have attended all their classes by the end of the first week of school.
• Current term housing fees and rent (if living in student housing or in the efficiency apartment or dorm.)
• Current term daycare expenses – as authorized by the student.
• If student owes SBC for prior-year expenses, up to $200 per year will be taken from excess federal financial aid funds (Pell, FWS or SEOG) and used to pay on the prior-year debt to SBC.

Federal Work Study jobs ($15.00 per hour) are available on campus.  Students do not earn benefits.  Job announcements are posted each semester. 
 
Other Disbursement Rules:
 
If the Federal Pell grant is not sufficient to pay all tuition, books, fees, and housing costs, payment shall be made from other aid awarded before issuing any financial aid disbursement to the student.
 
Students who fail to maintain attendance at minimum full-time enrollment may have their full-time financial aid award canceled by some programs i.e. Pell grant.
 
Students may opt to purchase a meal ticket or SBC promotional products with their excess financial aid.  Students may contact the Financial Aid Office if interested.