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6-8-1 Refunds

 

NUMBER:  6-8-1          APPROVED DATE:  02-22-2000

BASED ON POLICY NUMBER AND TITLE:  6-8-0 REFUNDS

PURPOSE: To establish guidelines for ensuring that Trident Technical College students receive a refund of tuition.

  1. CURRICULUM REFUNDS
    1. It is the policy of Trident Technical College that students or appropriate sponsoring agencies receive a refund of tuition upon the student's withdrawal from the College.


      DROP/WITHDRAWAL  REFUND %
      BEFORE THE FIRST DATE IN THE FULL TERM THAT CLASSES ARE OFFERED (Start of Term) 100%
      1st - 5th BUSINESS DAY OF THE FULL TERM (During Drop/Add) 100%
      AFTER 5th BUSINESS DAY OF THE TERM 0%
    2. Refunds for terms that vary in length from the full term will be proportioned to the term refund schedule published in the master schedule of classes and on public college calendars.
      (Refer to TTC Policies and Procedures Manual Section 15 for Continuing Education (non-curriculum) Refund policy and procedures.)
    3. Students file a completed course withdrawal form with the Registrar’s Office or withdraw themselves from class online. The Finance Department also processes student refunds from credits on the student’s account that are a result of canceled course(s) and suspension reports processed in the Record’s Office. Refunds are calculated according to the schedule above and mailed to the local address provided by the student or deposited electronically to the bank account provided by the student via TTC Express.
    4. The College will retain credit balances less than $50.00 if the student cannot be located.  It is the student's responsibility to update address changes.
    5. The College establishes a student's official withdrawal date as the student's last date of attendance.  Tuition payments by check are subject to a fourteen-day waiting period. The Finance Department deducts from the refund any fees due to the College.
  2. STUDENT AID REFUNDS

    Every full term the College will review accounts of all Title IV sponsored students who totally withdraw to ensure consistent application of all federal rules and regulations.  After tuition and fees are deducted, the Finance Department processes refunds to students whose tuition is paid through Federal Family Educational Loans, Federal or State grants, and/or scholarships in accordance with the Federal and State regulations. The Finance Department begins processing student aid refund checks after Financial Aid posts the award to student accounts. Finance mails these checks to the student's local address in Colleague or deposits electronically to the bank account provided via TTC Express.

    Students must meet all of the following conditions to receive financial aid checks:
    1. Students must attend classes for which they register. Any classes not attended will be deleted from student's schedule and aid reduced accordingly. 
    2. Financial aid awards will be prorated depending on the number of hours attempted during the current term.
    3. Students may not have withdrawn from the college for the current term.
    4. Students must have no outstanding debt owed to the College.

      If a refund check is not cashed or presented for payment during the award year, the Financial Aid office may subsequently adjust the student's award. The College may be required to return the credit balance to the applicable student aid program once the award period has ended.

  3. ESCHEAT UNCLAIMED REFUNDS

    The South Carolina Uniform Unclaimed Property Act requires that the College review its records each year to determine whether it is in possession of any unclaimed property, to file an annual report, and to remit unclaimed property to the State Treasurer's Office Unclaimed Property Program.  Unclaimed property includes refund checks, deposits and credit balances, which have remained unclaimed by the rightful owner for a dormancy period.  The dormancy period is five years for all of the above. The state requires an annual filing before November 1 of each year as of the preceding June 30.  The Director of Finance is responsible for ensuring these responsibilities are fulfilled.

    The College is prohibited from escheating refunds from Federal Title IV funds to the state.  The College will not submit these funds to the South Carolina Treasurer's Office.  As of the 2006-2007 financial aid year, the College will reimburse these funds back to the originating federal program.

Updated: 05-21-2007

Updated: 12-04-2012

Updated: 05-24-2016