Ralph R. Willis Career & Technical Center RETURN OF FEDERAL FUNDS POLICY
Ralph R. Willis Career & Technical Center participates ONLY in the Federal Pell Grant Program; in accordance with the Title IV Return of Federal Funds regulations, Federal Pell Grant recipients should be aware that their Federal Pell Grant disbursements must be earned through the 60% point in each payment period (i.e., 270 hours of a 450 hour payment period). WV Higher Education Policy Commission has decreed that this same formula shall be apply to WV HEAPS/Workforce Development program. A student’s withdrawal or termination from school prior to the completion of 60% of their payment period will result in the application of a pro-rata schedule to determine the amount of Federal Pell Grant and WV HEAPS/WD the student has earned at the time of withdrawal. After the 60% point in the payment period, the student has earned 100% of the Federal Pell Grant and WV HEAPS/WD disbursement.
This is a separate calculation from the Ralph R. Willis Career & Technical Center institutional refund policy. The percentage of hours completed in the payment period is calculated by dividing the number of scheduled hours through the student’s last date of attendance by the hours in the payment period. After 60% of the payment period is completed (270 hours of a 450 hour payment period), there is no return of Title IV (Federal Pell Grant) or WV HEAPS/WD funds. Prior to the completion of 60% of the payment period, the amount of Federal Pell Grant and WV HEAPS/WD earned is calculated by multiplying the total amount of aid that could have been awarded for the payment period by the percentage of time completed. The amount to be returned to the U.S. Department of Education is determined by taking the amount of Federal Pell Grant earned and subtracting it from the amount of Federal Pell Grant disbursed. This same formula is applied to WV HEAPS/WD funds.
The institution’s share of the amount to be returned is calculated by multiplying the institutional charges (registration, application, entrance test, lab fees and tuition) by the percentage of time not enrolled. The student’s share is calculated by subtracting the amount the school must return from the total amount to be returned. The amount of the student’s share in excess of 50% of the disbursed amount must be repaid to the school within 45 days of notification of the repayment date, or the student’s account will be turned over to the U.S. Department of Education for collection, and the student becomes ineligible for further Federal financial aid until the debt is repaid. Should the Return of Federal Funds calculation show a repayment due, any refund due the student from the institutional refund calculation will be applied toward the student’s unearned Federal Pell Grant before any funds are disbursed to the student. Should the school’s return of Federal Funds result in a balance due the school, the student will be billed.
For example: A student attends 50% of their payment period. The institutional charges for the period of enrollment are $1500, and the Federal Pell Grant disbursement was $2000. The Federal Pell Grant is 50% of $2000, or $1000. The institutional share of the unearned Federal Pell grant is 50% of $1500, or $750. The student’s share of the unearned Federal Pell Grant would be $1000 – $750, or $250 – but as this is less than 50% of the amount disbursed, the student has no overpayment. The student would be billed by the school for the $750 of institutional charges due to the school as a result of the returned funds by the school unless the student had other aid to cover the returned funds.