Institutional
Federal Title IV Financial Aid
Credit Balance

If you find it necessary to withdraw from the College after paying charges, but prior to the first day of the semester, you will have all funds paid by you returned, with the exception of non-refundable deposits. If you withdraw after the first day of the semester, you are subject to the College's refund policies which are stated in the College catalog. However, if you receive financial aid (including Federal Direct Student and/or Parent PLUS loans), you should be aware that federally mandated guidelines must be applied before any money is refunded to you.

Institutional Refund Policy

A student who withdraws from the College or changes her or his course load is eligible for refunds according to the following schedule:

Please Note:

• Students who are studying away under the auspices of KSC's Global Education Office's off-campus programs should refer to the acceptance letter or program materials for specific withdrawal and refund policies regarding their program.
• Students who are suspended or dismissed for disciplinary reasons forfeit their right to any refund.

Return of Federal Title IV Financial Aid Policy

If a student is receiving federal financial aid (Pell grant, SEOG grant, Perkins loan, Direct Student loan, Direct Parent PLUS loan, and LEAPP state grants), and withdraws or takes a leave of absence within 60 percent of the enrollment period, a portion of the awarded federal aid must be returned according to the Higher Education Amendments of 1998.

The determination of the return of these funds is calculated by the Financial Aid Office normally within 10 business days of the withdrawal or leave of absence notification date. The calculation may result in the student owing a balance to the College and/or the federal Title IV financial aid programs.

Credit Balance Refund Policy

The Student Accounts Office evaluates and refunds account credit balances on a regular basis. All refunds will be sent to the student's home address, unless a different address is requested. Although our office processes refunds as quickly as possible, students should not plan on using their refund check to pay their rent if living in an off-campus residence. We cannot guarantee that a refund check will be ready by a student's rent deadline.

Refund checks are typically available 7-10 business days after a credit balance is created. If the student is participating in a semester or year-long payment plan, and has also been awarded financial aid, our office will be unable to refund any resulting student account credit balance until the student's payment plan has been completely paid off. In the event that a student's financial aid award exceeds the remaining amount owed for his/her payment plan, it is the student's responsibility to contact the payment plan servicer and reduce the (original) amount of your plan if he/she so chooses.

Please Note:

• Single semester loans will have two disbursements; please plan accordingly.
• Some financial aid programs may not be disbursed until well into the semester, especially for first-time KSC students; please plan accordingly.
• Credit balances cannot be "held" from semester to semester. All outstanding credit balances will be refunded to a student in the form of a check.
• Regardless of who remitted the payment to the student account, the refund will be made payable to the student except for credit balances produced by a PLUS loan.