A fair and equitable refund policy is applied to all financial aid students at Wenatchee Valley College. Students who withdraw, drop out or otherwise fail to complete the period of enrollment for which they have been charged tuition and received financial aid may have to repay a portion of the grants they received. All tuition refunds are applied to Title IV programs and are not returned directly to students. In some cases this will require the student to pay tuition charges that financial aid had paid.
Return of financial aid funds is based on a percentage of days that a student attended classes, divided by the number of days in the payment period, multiplied by the amount of aid that was disbursed and could have been disbursed. The student must return 50 percent of any grant aid considered unearned (based on the above formula), less the amount that the college has returned. Loan amounts are returned in accordance with the terms of the promissory note.
The order that funds are to be returned are as follows:
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- PLUS (Parent loan)
- Pell Grant
- Academic Competitiveness Grant
- Federal Supplemental Educational Opportunity Grant (SEOG)
- State Need Grant and other grants and loans
Please note that the financial aid refund policy and the college’s refund policy are different. The financial aid refund policy for federal funds has been established by the Department of Education and must be followed for all aid recipients. The State Need Grant refund policy is established by the Higher Education Coordinating Board of Washington State and requires a repayment of State Need Grant funds for a student that withdraws before the 50% point of the quarter. Contact the financial aid office for more information regarding financial aid refunds.
All financial aid recipients have the right to inspect their financial aid files for the accuracy of the information contained therein, and to submit corrections. Confidential information covered under the Privacy Act may not be reviewed by anyone else without prior written approval of the individual concerned.
The student is responsible for notifying the financial aid office of any additional outside income, resources from scholarships and private loans, and for submitting additional documents as required during the year to the financial aid office. All information submitted to the financial aid office must be complete and true and accurate to the best of the student’s knowledge.