chase individual equipment ( e . g . tools , shop clothing , etc .), supplies , and books required for a specific academic program . As such , these materials are considered the personal property of each individual student and are not refundable following the first academic day of class .
Return of Title IV / PHEAA Funds for Students
The college Financial Aid Office is required by legislative statute to recalculate Federal and State financial aid eligibility for students who officially / unofficially withdraw or take a leave of absence prior to completing 60 % of a payment period or semester . The Federal Title IV financial aid and PHEAA State grant programs must be recalculated in these situations .
If a student leaves the college prior to completing 60 % of a payment period or semester , the college Financial Aid office recalculates eligibility for Title IV funds . Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula : Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or semester . ( Any break of five days or more is not counted as part of the days in the semester .) This percentage is also the percentage of earned aid .
Funds are returned to the appropriate Federal or State program based on the percentage of unearned aid using the following formula : Aid to be returned = ( 100 % of the aid that could be disbursed minus the percentage of earned aid ) multiplied by the total amount of aid that could have been disbursed during the payment period or semester .
Student Satisfactory Academic Progress Policy
Federal regulations require that all students who receive any financial aid meet federal academic progress standards while taking courses toward a degree or certificate program . This policy applies to all terms of enrollment , even if the student did not receive federal aid . Academic progress is measured both by cumulative grade point average and by course grades . The financial aid office checks student academic progress after both the fall and spring semesters .
Academic Progress Standards
A . Completion Rate ( 67 % Rule ): Students must receive a satisfactory grade in courses attempted by completing at least 67 % of the credits for which they are enrolled . This percentage is calculated by dividing the number of credits earned by the number of credits attempted for the semester . All withdrawals , failures and incompletes are counted as attempted , but not earned credits .
1 . Exception to the 67 % Rule : It is important to note that the 67 % completion rule applies to Title IV financial aid . However , specific grant and scholarship aid programs may mandate a higher completion rate .
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