Financial Aid Policies

Not all programs are eligible for financial aid. Students must declare an eligible major to be eligible for financial aid. Eligible majors typically require 16 or more credits to complete. Non-credit Continuing Education courses are not eligible for financial aid.

Repeated Courses: Students may repeat a course for the purpose of achieving a higher grade or to review course material. Students shall not be permitted to receive federal financial aid for more than one repetition of a previously passed (A, B, C, D, pass) course unless the course is designed to be repeated.

All repeat courses shall be included in the earned completion percentage and maximum time frame calculations. With the exception of those courses designated as repeatable, only the most recent grade of a repeated course shall be used in the GPA calculation when a Repeat Course Form is processed.

Federal financial aid, which includes the Pell and SEOG grants and Direct loans, can be used to pay for a maximum of 30 credits of remedial/developmental (below 1000 level) credits.

Students have the right to:

• Seek financial aid counseling.
• Know their financial aid award is based on calculated financial need. Financial need is determined by a federal formula established by the U.S. Congress and the Financial Aid Office. Need is defined as the difference between the cost of attending school and the Expected Family Contribution (EFC).
• Know terms of federal, state and institutional financial aid programs.
• Accept, decline, reduce or seek adjustments to their financial aid and be considered in an equitable and consistent manner.
• Know their amount of aid and when it will be disbursed.
• Know how eligibility can be restored for those who have been declared ineligible due to unsatisfactory academic progress.
• Request an appeal of any decision concerning their financial aid award.
• Employ their rights under FERPA.
• Access their financial aid data.
• Know about retention and completion data.
• Know about special facilities and services available for physical, mental or cognitive disabilities.
• Know about campus security statistics and crime prevention programs.
• Know about accreditation status.
• Know about financial aid policies surrounding Satisfactory Academic Progress requirements and Academic Progress Requirements.
• Know about cost of attendance, refunds, return of Title IV funds and the withdrawal policy.

Students have responsibilities to:

• Be accepted and enrolled in a degree or certificate program.
• Complete the Free Application for Federal Student Aid (FAFSA) by the priority deadline date annually to receive federal, state and institutional funds.
• Be enrolled for all courses by the Essential Deadlines each term.
• Notify the Financial Aid Office of any change in information submitted such as:
  • withdrawal from school;
  • change in enrollment;
  • change in name;
  • financial information;
  • defaulting on and/or owing a refund of Title IV funds to any institution.
• Comply with Satisfactory Academic Progress and Academic Progress Requirements.
• Know their financial aid is intended for educational purposes.
• Understand that partial or full withdrawal will result in repayment of federal, state and/or institutional funds. Any aid refunds not repaid will cause the loss of further eligibility.
• Complete required entrance and exit interviews and repay all loans according to the terms of their promissory note and truth-in-lending statement forms.
• Abide by Century College Policy and Student Conduct Code.
• Attend classes and complete course requirements to remain eligible for financial aid.

Satisfactory Academic Progress Standards Summary

You must make satisfactory academic progress towards a degree or certificate to attend Century College and remain eligible for financial aid.

The standards, briefly defined below, are cumulative and include all periods of enrollment. You are responsible for reading and understanding the complete 2.9.1 Financial Aid Satisfactory Academic Progress Policy and Procedure. Academic advising, counseling, instructors, tutoring, special programs, and outside referrals are all available to assist you in being successful.

Minimum Academic Standards You Must Meet or Exceed:

Assessment of Academic Progress and Resulting Status

Academic progress is assessed after each term, including summer. Your status following the assessment will be one of the following: good standing, warning, suspension or probation.

Warning and Suspension

If you do not meet the minimum cumulative standards, you are placed on warning for one term only. During that warning term, you must raise your cumulative GPA and percent completion to meet or exceed the minimum standards. If you do not, you will be suspended. You will also be suspended from financial aid eligibility if you exceed the maximum time frame. There are several other reasons you may be suspended.

Appeals and Reinstatement

Once you are suspended from the College, the only way to reestablish your eligibility for financial aid is to appeal based on extenuating circumstances and have that appeal approved. Or you would need to attend Century College without financial aid and meet the minimum standards, at which time you would be returned to good standing.

Maximum Time Frame

Maximum Time Frame is a requirement of the Department of Education and must be monitored for all financial aid recipients. Even though it is called Maximum Time, it is really a measure of the number of credits students have attempted, including transfer credits. Students are expected to complete their program within 150% of the credit length of the program with the required GPA. The goal is to make sure students are using their financial aid effectively and progressing toward degree completion. Even students with good grades who are completing their courses successfully can be placed on maximum timeframe suspension. Learn more here.

Probation

If your appeal is approved, you are placed on probation. All approved appeals and probationary terms include an academic plan that you must adhere to. This plan will include, at a minimum, earning at least a 2.50 term GPA and completing 100% of your courses. At the end of your probationary term, if you have met both the cumulative standards, congratulations; you are back in good standing. If not, you either remain on probation (because you met or exceeded the term standards) or are re-suspended.

Additional Information

We encourage you to develop a plan to ensure your success at Century College and to use College resources wisely. Academic advisors and counselors are available to assist you, please call 651-779-3285 to schedule an appointment.

Return of Title IV Funds and State Funds

Please contact the Financial Aid Office prior to withdrawing if you have any questions regarding your possible repayment obligation.

If a student completely withdraws from all credits before the 60 percent point of the semester, their financial aid is subject to the State and Federal financial aid refund policy. Under this policy, students earn financial aid in proportion to the time they are enrolled up to the 60 percent point. The unearned share of the federal financial aid must be returned to the program within 45 days from which it was paid as prescribed by federal regulations in the following order:

1. Federal Unsubsidized Direct Loan
2. Federal Subsidized Direct Loan
3. PLUS Loan
4. Federal Pell Grant
5. Federal SEOG

State financial aid programs are refunded to the Minnesota Office of Higher Education/ State of Minnesota.

The student may be required to repay a portion of the financial aid they received. For example, if a student withdraws after completing 30% of the term, they are entitled to keep approximately 30% of their financial aid and must repay the remaining 70%.

After the 60 percent point of the semester, the student is considered to have earned all of the financial aid eligibility, and no refund is required for withdrawal.

Withdrawal Exemptions for Students Enrolled in Modules

Effective July 1, 2021

Courses that do not run the full length of the term are considered module courses. A student enrolled in only module courses is considered to have withdrawn for return of Title IV purposes when the student ceases attendance and is not scheduled to begin another course within a period of enrollment for more than 45 calendar days after the end of the module the student ceased attending. A student who meets one of the following exemption criteria is not considered to have withdrawn:

• Withdrawal Exemptions for programs offered in modules:
  • The student completes all the requirements for graduation in their program of study;
  • A student is not considered to have withdrawn if the student successfully completes one module or a combination of modules that includes 49% or more of the number of days in the payment period (excluding scheduled breaks of five or more consecutive days and all days between modules);
  • A student is not considered to have withdrawn if the student successfully completes coursework equal to or greater than the coursework required for the institution’s definition of a half-time student under 34 CFR 668.2(b) for the payment period.

Please contact the Financial Aid Office prior to withdrawing if you have any questions regarding your possible repayment obligation.

Official Withdrawal: When the student officially withdraws from all courses after the semester begins, the Financial Aid Office will use the withdrawal date to determine the portion of the Federal Title IV aid earned (or could have been earned) to be used to pay institutional charges (such as tuition and fees).

Unofficial Withdrawal: A student is said to be unofficially withdrawn if they stop attending class or stop submitting work for an online course. Faculty reports the Last Date of Attendance, and the student receives an FW (faculty reported withdrawal) or FN (faculty reported never attended). For a student who has been determined to have unofficially withdrawn, the date of withdrawal for purposes of the Return of Title IV refund calculation is deemed to be the last date of attendance for in-person classes and the last date of academically related activity for an online course recorded by the faculty at grading. A grade of F is considered a completed/earned F by the college. When a Last Date of Attendance cannot be determined, the college will use the 50% point of the term.

Timeframe for R2T4 calculation: Federal regulation requires the college to calculate the Return to Title IV refunds within 30 days of determining an official or unofficial withdrawal date. Funds will be returned within 45 days.

Post Withdrawal Disbursement (PWD): Per 34 C.F.R §668.22 (a)(5) and (6); 34 C.F.R. §668.164(j), (h), a student may be owed a disbursement of Title IV funds after the withdrawal date if the conditions for PWD are met according to the code of federal regulations (as referenced above). A PWD, whether credited to the student’s account or disbursed to the student or parent directly, will be made from available grant funds before available loan funds. Once processed, a new R2T4 calculation would be completed.

PWD Timeframes:

• A PWD of grant funds will be disbursed within 45 days of the date of Century College’s withdrawal date determination.
• A PWD of loan funds will be offered to the student within 30 days of the date of the school’s determination that the student has withdrawn. Century College will provide a 14-day response period to the student to accept or decline funds. Written permission from the student is required before loan funds can be disbursed. The disbursement of requested funds must be made within 180 days of the determination of the withdrawal date.

Treatment of a Title IV Credit Balance When a Student Withdraws: In most cases, the cash management regulations require a school to refund a Title IV credit balance to a student within 14 days. However, when a student withdraws with an outstanding Title IV credit balance, a school is first required to perform an R2T4 calculation to determine, among other things, whether adjustments to the credit balance will occur. The credit balance will be disbursed as soon as possible and no later than 14 days after the R2T4 calculation. In the event that Century College cannot locate the student (or parent) to whom a title IV credit balance must be paid, the Century College Business Office will determine what programs constitute the refund and will notify the Financial Aid office of any unclaimed credit balances that need to be returned to Title IV programs.