Financial Aid FAQs
(Applies only to MCUTS@LBC programs currently)
- If I drop a course or withdraw, what will happen to my financial aid?
Dropping courses and withdrawing from MCUTS@LBC are academic actions that often have financial implications. It is the student’s responsibility to understand the effects that these actions will have on their financial aid. Dropping courses after the official add/drop period may result in financial aid being adjusted. Withdrawing from the college may result in the student having to pay back financial aid that was calculated based on the students continued full time enrollment.
Undergraduate Degree tuition refunds for a 5 week course are granted according to the following schedule:
% of Classes Complete
- 0-10% 100% Refund
- 11-20% 90% Refund
- 21-30% 75% Refund
- 31-40% 50% Refund
- 41-50% 25% Refund
- 51-100% No Refund
- Audit No Refund
- If I still have money left over after paying my tuition, what happens to it?
When a student’s total aid is greater than their billable charges for tuition, fees, and meals they may be eligible for a refund.
Refunds are made available to registered students after all (billable) charges are satisfied and student financial aid is disbursed after the beginning of the second class. Students are reminded that this is a loan that they will have to pay back eventually and encouraged to decline the refund check and to keep their debt load as low as possible.
- I just learned that I must maintain “Satisfactory academic progress? What does this mean?
In order to maintain financial aid eligibility, a student must meet the following requirements of Satisfactory Academic Progress:
- Students must complete their degree program within 150% of the published length of their degree program.
- For students enrolled in certificate programs or programs that are less than one year, evaluation of satisfactory academic progress will be done at the end of each payment period. If a student fails to make satisfactory academic progress at the end of the first payment period, they will be placed on “Academic Warning.” The student may continue to receive Title IV aid for one payment period and no appeal is necessary.
Otherwise all other students enrolled in programs longer than one year will be evaluated at the end of each academic year. The total (cumulative) academic record is considered when academic progress is considered when academic progress is evaluated (not just terms when financial aid was received). Students who are not successfully completing courses at the minimum levels as outlined (see the Dean of Student Services or Financial Aid Specialist for specific information on academic levels required) are considered to be making unsatisfactory progress and will not be eligible for financial aid for the following semester.
Students may appeal financial aid termination status in writing on the appeal form included with this policy. Such appeals must be made within 30 days after the date of the letter of notification and must include appropriate request documentation. The appeal must be in written form, addressed to the financial Aid Director for consideration by the Dean of Students office. Mitigating circumstances which would be considered upon appeal as adequate reasons for reinstatement would be (but are not limited to):
- Student illness, accident or hospitalization
- Death or illness of spouse or other immediate family member.
- Other family emergencies or unusual circumstances
The appeal must include why the student failed to make satisfactory academic progress, what has changed that will allow the student to make satisfactory academic progress for the next term.
If the appeal is granted the student will then be placed on “academic probation” and will be allowed to receive Title IV aid for the next payment period or be placed on an academic plan that will ensure the student is able to meet satisfactory academic progress by a specific point in time.
- Can I use my GI Bill?
Yes. Students can use their Montgomery GI bill.
If you are eligible for the Post-9/11 GI Bill, you may also use that with our college. The Post 9/11 GI Bill pays up to 21,970.46 in tuition and fees. It also provides education benefits for service members who have served a minimum of 90 combined days on active duty after September 10, 2001.