Student Financial Resources and Scholarships
Return of Federal (Title IV) Funds
Financial assistance recipients MUST notify Student Financial
Resources and Scholarships immediately when there is a change in enrollment status.
student receiving Title IV aid completely withdraws from all classes
before completing 60% of the term, Student Financial Resources and
Scholarships is required to determine how much financial aid has
been earned up to the date of withdrawal. Unearned Title IV
funds must be returned by OCC and the student (depending on the
calculation) to the federal government.
Once a student has been enrolled for more than 60% of the semester,
the student has earned the federal financial assistance.
Students who withdraw from all of their classes prior to 60% of the
semester will have their financial assistance recalculated based on
the percentage of the term completed.
Funds must be returned to the following federal programs in the
- Unsubsidized Direct Stafford loans (other than
- Subsidized Direct Stafford loans
- Federal Perkins Loans
- Federal PLUS loans
- Direct PLUS loans
- Federal Pell Grants for which a Return is required
- Federal Supplemental Educational Opportunity
Grants (FSEOG) for which a return of funds
- Federal TEACH Grants for which a Return is required
- Iraq and Afghanistan Service Grant for which a
Return is required
When a student receives an "N" mark(s) for a class(es), the
financial assistance award may be reduced or cancelled,
and the student will be responsible for any outstanding
balance owed to the federal government and to OCC as a
result of this adjustment.
Withdrawing/dropping from classes and/or never attending
classes may also affect the student’s academic progress and
result in termination of financial assistance.
The student is encouraged to contact the Student Financial
Resources and Scholarships office BEFORE changing
enrollment status. The financial aid staff can provide
additional information which will assist the student in
making an informed decision.
If the student doesn't pay the amount owed, the
student will be ineligible for further financial assistance from any
post-secondary institution that participates in the Title IV
(federal) financial aid programs.
Students who decide to withdraw/drop classes must complete the
"Student Withdrawal Form" and submit it to Enrollment Services