Refund and Repayment Policy
The Financial Aid Office at LFCC is required by federal and state regulations to have a written policy for the refund and repayment of federal and state aid received by students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term for which payment has been received. These policies are effective only if the student completely terminates enrollment or stops attending all their classes before completing more than 60 percent of the enrollment period. The Title IV financial aid and/or state award programs must be recalculated in these situations.
Refund Policy
The amount of a refund of fees for students who withdraw will be calculated as follows:
- All students receiving Title IV (federal) and/or state financial aid may be required to repay all or part of any aid received to the appropriate federal and/or state program(s) if they withdraw from all classes.
- The amount that the student may be required to return to the federal and/or state program(s) will be determined by the amount disbursed, the amount which could have been disbursed, and the percentage of the enrollment period the student has completed.
- If a student withdraws on or before the 60 percent point time of the period of enrollment, calculated using calendar days, a portion of the total of federal and/or state funds awarded a student (excluding federal work-study) must be returned according to the provisions of the Higher Education Amendments of 1998 and the State Council of Higher Education for Virginia. The calculation of the return of these funds may result in the student owing a balance to the College and/or the federal or state government.