Financial Aid Policies
Disbursement, Refund & Repayment Policies
Students are required to maintain regular and consistent attendance in all classes. Financial aid disbursements will be calculated on the student’s class attendance. Students who stop attending class, drop out, or officially withdraw may owe money back to the federal financial aid programs or other scholarship or loan programs. Students should follow the procedures printed in Lon Morris College’s catalog for formally withdrawing from LMC.
Lon Morris College’s Refund Policy is published in the LMC Catalog. If a student withdraws or drops out on or shortly after the first day of classes, a refund of tuition and fees may be calculated by the Business Office. If the student is a Federal Title IV financial aid recipient, the return of Title IV funds is calculated and returned to the financial aid programs(s) by Financial Aid Office in accordance with federal law.
If a student withdraws, or drops classes, or stops attending classes on or after the first day of classes and the student receives a refund of Federal Title IV financial aid funds for the semester, the student by owe a repayment of a portion of the financial aid received for that term to LMC and the federal government. The repayment is calculated for the period of time the student is not in attendance, in accordance with federal formulas. The student is required to repay any funds received for the time period the student is not in attendance.
In a refund, return, or repayment, the student may owe additional funs to LMC, the federal and/or state government. Students are encouraged to use caution in deciding to drop or withdraw from classes.
Dropping classes or withdrawing from LMC may impact the student’s future financial aid eligibility. Students should be familiar with LMC Financial Aid Satisfactory Academic Progress Standards.
Students are billed for a repayment or refund owed to LMC. The repayment must be paid before any additional Federal Title IV aid is awarded to the student. Any unpaid amount will be subject to be assigned to the U.S. Department of Education. A hold is placed on all LMC records when the student owes a repayment. The student is ineligible for any additional federal financial aid funds until the debt is satisfied.