• GateWay Financial Aid

Return of Funds

If you need to withdraw from school at any time after you have received financial aid, please keep the following financial aid refund, overpayment and repayment terms and conditions in mind.

Who has to return funds?

Students must return funds if they receive financial aid and completely withdraw from all credits before completing 60% of the semester (referred to as Title IV funds). For more information on return of Title IV fund, please review the following links.

How do I know if I have to repay funds?

Students will be notified if they must repay federal money as a result of withdrawing. Students are referred to the Maricopa Community Colleges' withdrawal policy concerning procedures for withdrawal.

Total Withdrawal Criteria

  • Calculations are based upon the % of aid earned, based upon the number of days completed during the semester for students that officially withdraw.
  • The mid-point of the semester is used to calculate the % for students who unofficially withdraw from school.
  • Amount of aid earned by the student is determined by taking the aid disbursed (plus aid that could have been disbursed) and multiplying by the % of aid earned.
  • Amount of Title IV aid to be returned is the difference between the total aid disbursed and the amount of aid earned.
  • Amount of unearned Title IV aid due from the school is calculated by taking the total institutional costs multiplied by the percentage of unearned Title IV aid. If loan funds were included in the disbursement, unearned Title IV Aid due from the school would first be returned to the loan program.
    Amount of unearned Title IV aid due from the student is calculated by taking the previously calculated Title IV aid to be returned and subtracting the amount of unearned aid returned by the school. Title IV loans are reimbursed first. Since loan repayment is subject to the terms of the promissory note, the student is not required to make immediate repayment.

Partial Withdrawal Criteria

If you withdraw from a class within the 100% refund timeframe or are rostered out of a class at anytime after you receive financial aid you may owe an overpayment and need to recalculate your award.

Withdrawal After the Refund Period

Students will NO longer be withdrawn from classes after the refund period for non-payment, and the debt owed will remain on your account and payment due. 

Repayment of Funds

The school will bill the student for amounts requiring immediate repayment. Student may pay in full or make satisfactory repayment arrangements. Failure by the student to repay or make satisfactory repayment arrangements will result in the referral of the debt to the U.S. Department of Education, and the student will be ineligible for further Title IV assistance.

School Return of Funds

Funds must be returned to the source from which they were paid in the following order:

  • Direct Stafford Loan
  • Federal Perkins Loan
  • Direct PLUS Loan
  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (FSEOG)
  • Other Federal Aid Programs
  • Other State, private, or institutional sources of aid

Student Return of Funds

Funds must be returned to the source from which they were paid in the following order:

  • Direct Stafford Loan*
  • Federal Perkins Loan*
  • Direct PLUS Loan*
  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (FSEOG)
  • Other Federal Aid Programs / Other State, private, or institutional sources of aid

*Loan amounts are returned in accordance with the terms of the promissory note.

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Contact

Phone: (855) 622-2332
Building: Integrated Education Building
Room: IE1214

Hours

Fall and Spring

Monday - Thursday: 8 a.m. - 6 p.m.
Friday: 8 a.m. - 2 p.m.

Summer
Monday - Thursday: 8 a.m. - 6 p.m.
Friday: Closed