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Financial Aid Terms of Agreement
In accepting an offer of financial aid, you acknowledge responsibility for understanding and complying with the TERMS OF AGREEMENT. This official agreement between you and the Student Financial Services Office is in force throughout the length of the award. The TERMS OF AGREEMENT is subject to amendment without notice because of frequent changes in the laws, rules and regulations that govern financial aid. The following TERMS OF AGREEMENT applies to all financial aid programs.
AVAILABILITY OF FUNDS
All financial aid awards offered by Modesto Junior College are limited to the availability
of funds.
ACADEMIC QUALIFICATIONS
To be eligible to receive Financial Aid funds, you cannot be concurrently enrolled
in high school and must have earned a high school diploma, GED, or equivalent.
If you have NOT earned a high school diploma, GED, or equivalent, and were enrolled
in an eligible program of study prior to July 1, 2012, you may use one of the following
options to become eligible for Title IV funding:
1. Passed the “Ability-to- Benefit” (ATB) Test OR
2. Have successfully completed 6 core units (Student Financial Services Office will
assess transcripts for core units).
CHANGE IN ENROLLMENT/ATTENDANCE STATUS, WITHDRAWAL, AND LEAVE OF ABSENCE
Our offer of financial aid is contingent upon your admission, enrollment, and attendance at this college. You must be enrolled for the purpose of obtaining a degree or eligible certificate, or you must be enrolled in a transfer program leading to a Bachelor’s degree. Minimum enrollment for all programs except Federal Pell Grant is six units. For students meeting specific eligibility requirements, Federal Pell Grant may be available at less than half time. Your award offer is based on full-time enrollment (12 units or more) and is subject to change if your unit load is less than full-time. The Federal Pell and Cal Grants are disbursed according to your unit load as follows:
FULL-TIME
12 units: 100% of award
THREE-QUARTER
9-11.5 units: 75% of award
HALF-TIME
6-8.5 units: 50% of award
A change in enrollment/attendance status during a semester could change or cancel
your award. Should you withdraw or take a leave of absence, your remaining financial
aid award for the current semester will be canceled. If you drop prior to attending
a class you will be considered “NO SHOW” and will be subject to repaying all the funds
back.
USE OF FINANCIAL AID FUNDS
You must use your financial aid funds only for expenses that are directly related to your cost of education (tuition and fees, books and supplies, room and board, transportation, personal expenses, and school-related dependent care expenses).
REFUND (DISBURSEMENT OF FINANCIAL AID FUNDS)
Financial aid refunds are typically disbursed in installments over the course of each
semester. Your refund may vary depending on your application date, types of aid you
are awarded, and course start dates. Financial Aid refunds are paid out to a student’s
selected refund preference with BankMobile Disbursements, a technology solution, powered
by BMTX, Inc. Visit disbursements for more information. View our third-party servicer contract for refund management. All refund dates are listed on the Student Financial Services
web page under the Refund Dates link.
RETAKING COURSEWORK
A student may be paid one time for a previously passed course. For this purpose, passed means any grade higher than an "F." In other words, the student may be awarded Title IV aid for a second term only, regardless of the grade earned on the repeated course.
- EXAMPLE: (assuming student is meeting SAP standards)
|
Term |
Course |
Grade |
Title IV Eligible |
|
Fall 2023 |
CMPSC-201 |
B |
YES |
|
Spring 2024 |
CMPSC-201 |
F |
YES |
|
Summer 2024 |
CMPSC-201 |
B |
NO |
A student may be paid for repeatedly failing the same course (normal SAP policy still applies to such cases).
- EXAMPLE: (assuming student is meeting SAP standards)
|
Term |
Course |
Grade |
Title IV Eligible |
|
Fall 2023 |
CMPSC-201 |
F |
YES |
|
Spring 2024 |
CMPSC-201 |
F |
YES |
|
Summer 2024 |
CMPSC-201 |
F |
YES |
If a student withdraws before completing a repeated course that he/she is being paid Title IV funds for, then that is not counted as his/her one allowed retake for that course.
- EXAMPLES: (assuming student is meeting SAP standards)
|
Term |
Course |
Grade |
Title IV Eligible |
|
Fall 2023 |
CMPSC-201 |
F |
YES |
|
Spring 2024 |
CMPSC-201 |
W |
YES |
|
Summer 2024 |
CMPSC-201 |
F |
YES |
|
Term |
Course |
Grade |
Title IV Eligible |
|
Fall 2023 |
CMPSC-201 |
D |
YES |
|
Spring 2024 |
CMPSC-201 |
W |
YES |
|
Summer 2024 |
CMPSC-201 |
F |
NO |
ENROLLMENT AT MORE THAN ONE INSTITUTION
Federal law states that a student may not receive financial aid from two separate institutions at the same time. A student attending more than one college during the same semester may apply for financial aid at the school where he/she is enrolled in the greater number of units. Students in this situation may qualify for a “Consortium Agreement,” which allows the disbursing college to consider funding units of attendance at another institution. Contact the Student Financial Services Office for additional information.
DEDUCTION OF OBLIGATIONS
Obligations owed to Modesto Junior College or Columbia College may be deducted from
your financial aid refund. Obligations will not be deducted from Federal Work-Study
earnings.
ENROLLMENT AFFECTS FINANCIAL AID
Students on a wait list who have not registered for all courses prior to a refund
date could have their funds delayed or amount reduced. Cal Grant and FSEOG recipients
must be enrolled in at least six (6) units. In addition, Cal Grant C recipients must
be enrolled in a technical / vocational course of study. The Student Financial Services
Office verifies student eligibility for the Cal Grant C each year.
ADDING / DROPPING
Adding and dropping units can cause a change in the amount of the award you receive.
Dropping units during the semester or dropping all courses will cause the financial
aid award to be recalculated. A semester award may be reduced and a repayment may
be required.
For example, if you are funded as a full-time student and then drop to half-time by
the second refund date, you would only be eligible for your first refund (50%). You
would be considered paid completely as a half-time student and would not receive a
second refund. Example:
|
Full-Time Award (One Semester) |
$2,822.50 |
|
|
1st Payment 50% |
Full-Time |
$1,411.50 |
|
2nd Payment |
Dropped to ¾ time |
$705.75 |
|
2nd Payment |
Dropped to ½ time |
$0 |
Dropping to less than half time will require you owe back all or part of your first refund. If you drop all units before 60% of the semester is completed, you may owe a repayment of your Federal Pell award according to the Return of Title IV Funds Regulation.
RETURN OF Title IV FUNDS REGULATION
Overpayments (mid-point Recalculation)
If a student has already been paid their financial aid before the mid-point of the
term and then drops units resulting in a lower enrollment status before the 50% point,
the student might owe back funds. This would happen when a student had been issued
a payment for half of the term award and the amount disbursed for that enrollment
status was greater than the new eligible amount for the entire term award. The Student
Financial Services office will calculate if an overpayment occurs and notify the student
with the dollar amount, due date, and procedures.
Return to Title IV Funds (R2T4)
A student who receives federal financial assistance and withdraws from all of their
classes before completing more than 60% of the semester will be required to return
any unearned federal funds. The amount of the return will be calculated on a pro-rata
basis. The percentage of Title IV funds earned will be calculated by the Student Financial
Services Office and if there is an unearned amount that was disbursed (overpayment)
or if there is an earned amount not disbursed (Post-Withdrawal Disbursement ‘PWD’), the student will be notified of the dollar amount, due date, and procedures.
No Show Overpayments
Students who do not begin attendance are ‘No Show’ and are not considered R2T4. A
student is not eligible for financial aid for any classes in which they were No Show.
If any funds were disbursed for No Show classes, the resulting overpayment will be
due immediately and charged to the student’s account. The student will be notified
of the dollar amount, due date, and procedures.
FINANCIAL AID OVERAWARDS
Federal regulations require colleges to consider all educational financial assistance to be calculated in determining student eligibility. Financial assistance includes grants, loans, scholarships, fee waivers, work study, and similar programs used to cover postsecondary educational expenses. When a student receives more aid than his/her financial need or cost of attendance, the result may be an overaward.
What is an overaward of financial aid?
When the total of all aid received by the student exceeds the student’s cost of attendance budget, awards in the package will be adjusted (cancelled or reduced) in order to eliminate the overaward. Loans will be reduced before any reduction is made to any other awards.
When over-awards occur, the Student Financial Services Office is required to review your financial aid eligibility and may be required to adjust, reduce, or eliminate financial aid awarded to ensure that the total you receive is within federal guidelines.
REFUNDS / PAYMENTS / DISBURSEMENTS
All financial aid refunds are sent to student’s selected refund preference with BankMobile
Disbursements, a technology solution, powered by BMTX, Inc. For more information visit
BankMobile Disbursements refund choices.
Refund dates are listed on the Student Financial Services web page under Refund Dates. If a student has dropped units or is not attending and received financial aid, the
student will be subject to repayment of financial aid funds. Any funds not repaid
will be reported to Department of Education.
Click Here to View Satisfactory Academic Progress Standards: SAP