- Disbursement of Financial Aid Funds
- Understanding your Financial Aid
- Repeat Classes
- Pell Lifetime Eligibility
- Satisfactory Academic Progress
- Return of Title IV Aid
The actual disbursement of financial aid varies and is dependent on your Expected Family Contribution (EFC) as determined by your FAFSA and your enrollment status:
Full-time = 12 credit hours or more
Three Quarter time = 9 to 11 credit hours
Half-time = 6 to 8 hours
Less than half-time = 1 to 5 credit hours
Your financial aid – which includes Grants and Loans – is disbursed to your student account based on the start date of each class. For example, you may be registered for full time status at the start of the term (see example below) but your financial aid will not reflect the full time award until the 2nd 8 week class has begun in October, at which time you are considered enrolled full-time for financial aid purposes.
16 week class - English 1101 (3 Semester hours) – 8/26/13 to 12/20/13
16 week class - Speech 1100 ( 3 Semester hours) – 8/26/13 to 12/20/13
12 week class - Sociology 1100 (3 Semester hours) – 9/17/12 to 12/20/13
2nd 8 week class - Humanities 1101 (3 Semester hours) – 10/17/13 to 12/14/13
**Please Note: To be considered enrolled in the class – for financial aid purposes - you must be registered for the class before the 50% refund period for each class. Enrolling for a class after the 50% refund period can affect financial aid award **
Based on new Federal Regulations – if you are repeating a course that you have already taken twice and received a passing grade for that class – then your financial aid will not pay for the repeated course.
** Please Note - Financial aid is considered Grants and Loans **
The amount of Federal Pell Grant funds a student can receive over his or her lifetime is limited by a new federal law to be the equivalent of six years of Pell Grant funding. Since the maximum amount of Pell Grant funding a student can receive each year is equal to 100%, the six-year equivalent is 600%. For more information please visit Calculating Pell Grant Lifetime Eligibility Used
College of DuPage will evaluate the Satisfactory Academic Progress (SAP) of all financial aid applicants, whether or not they previously received Federal/State Financial Aid, upon receipt by the College of their initial FAFSA information, and subsequently, at the conclusion of the grading period each semester. The College will determine a student's cumulative grade point average (GPA); cumulative completion rate (total credits completed divided by total credits attempted); and the student's total credits attempted to date, including transfer credits.
Federal regulations require that Satisfactory Academic Progress be applied to a student's academic performance regardless of whether or not financial aid has previously been received. When applying these standards, the student's full academic record at College of DuPage and any credit hours transferred to the college are taken into consideration.
Students who fail to demonstrate satisfactory progress toward the completion of their education (i.e., not attending classes, deferring grades, withdrawing from classes or failing classes) will become ineligible to receive financial aid. Students must be in an eligible degree program, certificate program or transfer curriculum to receive financial aid at College of DuPage.
If you withdraw on or before completing 60 percent of each payment period, and you have received Title IV federal funds in the form of a Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Federal Direct Stafford Loan, or a Federal PLUS, the federal government requires that we review your eligibility for those funds. We are required to apply a federally mandated formula to determine how much of the federal funding was "earned" up to the time of withdrawal. This review and recalculation is called a "Return of Title IV Aid."
A payment period is defined as each class session, i.e 8 week session, 16 week session, etc.
The Title IV federal funds that were disbursed at the start of the payment period in excess of the earned amount must be returned to the federal government. If you received a refund from any Title IV federal funds that was credited earlier in the term, which was to be used for education-related personal expenses, you may be required to return a portion of those funds to the university and/or the federal government. This portion represents funds that were intended to pay your education-related expenses through the end of each payment period. The amount to be returned will be calculated from the date on which you officially withdrew from classes and/or stopped attending.
Any class for which you received an F or W Grade due to non-attendance will result in your financial aid being re-calculated based on the classes you attended. This may cause you to owe back financial aid funds.
Funds that are returned to the federal government are used to reduce the outstanding balances in individual federal programs. Title IV federal funds returned must be allocated in the following order:
- Federal Unsubsidized Direct Loan
- Federal Subsidized Direct Loan
- Federal Direct Parent Loan (PLUS)
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (SEOG)
Office of Student Financial Assistance
Student Services Center (SSC), Room 2220, (630) 942-2251
Fax: (630) 942-2151
Monday to Thursday: 8 a.m. to 7 p.m.
Friday: 8 a.m. to 5 p.m.
2012 College of DuPage