Financial Aid Policies
Refund Policy!!
Refund policy / procedure when a student drops a course.
The Georgia Military College refund policy and procedure for students who drop a course is as follows:
- Refunds will be made after the established drop/add period has ended.
- A 100% refund of tuition and fees usually will be made if the student drops prior to the published end of the drop/add period. Some campuses may charge an administrative fee.
- There will be no refund of tuition and course fees if the student chooses to withdraw after the drop/add period. GMC processes refunds on a weekly basis. All students anticipating a refund are encouraged to enroll in Direct Deposit. The electronic refund direct deposit program allows your refund to be automatically deposited into your personal checking or savings account. The process is safe, secure, and faster. No more waiting for the postal service to deliver your check.
Click here to enroll in direct deposit.
Refund policy for students receiving Title IV Funds.
If a student is receiving Title IV funds and withdraws officially or unofficially (by not attending classes) before completing 60% of a term, Georgia Military College must determine if funds must be returned to one or more Title IV aid programs. This does not apply to Federal Work Study (FWS).
The process for this calculation is as follows:
The institution must:
- Determine the date of withdrawal and relate that date to a percentage of the term.
- Apply that percentage to the total Title IV aid that the student was eligible to receive to determine the amount “earned” by the student.
- Compare the amount “earned” by the student to the amount disbursed. If the amount “earned” is greater than the amount disbursed, then the student may be eligible for a “late disbursement” of funds. If the student is eligible for a “late disbursement,” the institution must make a post-withdrawal disbursement. If the amount “earned” is less than the amount disbursed, then Title IV aid must be returned to the applicable aid programs.
- Determine the amount of aid that must be returned to the Title IV programs by GMC and the amount that must be returned by the student. The percentage of Title IV aid the student must return is dependent upon the program from which the funds are received.
- Distribute the unearned Title IV aid back to the Title IV programs. Funds must be allocated in the following order:
- Unsubsidized Federal Direct Stafford loans
- Subsidized Federal Direct Stafford loans
- Federal Direct PLUS Program
- Federal Pell Grants
- Federal SEOG Program
- Other Title IV grant or loan assistance
Note: Examples of Return of Title IV calculations are available in the Financial Aid Office. Students may contact the Financial Aid Office with any questions regarding the return of student aid.
Veteran Chapter 33- Post 9/11 GI Bill Refunds
The Veteran’s Administration (VA) policy states, “if a student enrolls and never attends, the school must refund to the VA the full amount of payments received on behalf of the Student.” Following policy, Georgia Military College will not distribute any credit created by a Chapter 33 payment until attendance has been verified.
Expected Family Contributions
Satisfactory Academic Progress (SAP)
The U.S. Department of Education recently published new regulations in an effort to ensure program integrity at higher education institutions. These regulations were designed to ensure that only eligible students receive aid. Colleges and Universities across the nation were required to review and update their SAP policies.
Books and Supplies for Federal Student Aid Recipients
Click here to information for Books and Supplies for Federal Student Aid Recipients
Request to Opt Out of Book Fee
Click here to request to opt out of Book Fee
Withdrawal/Return of Title IV Funds (R2T4) Policy
Return of Title IV (Federal) Financial Aid
When a student withdraws during a term, the amount of federal financial aid earned by the student is determined on a pro-rata basis up to the end of 60% of the term. For example, if the student has completed 30% of the term, he or she has earned 30% of the aid originally scheduled to be received. Once a student has completed more than 60% of the term, he or she has earned all of his or her federal financial aid. (Federal Work Study funds are excluded from the return of Title IV funds requirements.)
If a student has received excess funds, the College must return a portion of the excess equal to the lesser of:
- the student’s institutional charges multiplied by unearned percentage of funds, or
- the entire amount of the excess funds.
If the aid to be returned is in the form of a loan that has been released to the student (or parent) borrower, the student (or parent) can repay the loan in accordance with the terms of the promissory note over a period of time. If the aid to be returned is in the form of grant funds, the law provides that the student may repay 50% of the grant rather than 100%.
Within 30 days of the date of GMC’s determination that a student withdraws, GMC will provide written notification to the student, or parent in the case of a parent PLUS loan, that outlines results of the refund calculation and post- withdrawal disbursement eligibility, if applicable. Any unearned Title IV funds are returned within 45 days of the date GMC determined the student withdrew.
Order of Funds to be Returned
The funds must be credited to outstanding loan balances or to any amount awarded for the term in which a return of funds is required in the following order:
- Unsubsidized Federal Direct Stafford Loans
- Subsidized Federal Direct Loans
- Federal PLUS Loans received on behalf of the student
- Federal Pell Grants
- Federal SEOG Grants
Example of a Refund and Return of Title IV Financial Aid
Student enrolls for Quarter 2, beginning on October 10 and ending on December 6 (57 days). Student withdraws from all courses on November 5.
Refund Calculation
Total Charges for Tuition and Fees = $2,010
Student attends October 10 to November 5 (withdrawal date) = 26 days/57 days in term = 46% of the term
Return of Title IV Aid Calculation
Step 1. Title IV Aid Disbursed on November 5:
Subsidized Direct Loan $ 866.25
Unsubsidized Direct Loan $990
Total aid disbursed $1,856.25
Step 2. Percentage of Title IV Aid Earned: 26 days of enrollment/57 days in term = 46%
Step 3. Amount of Title IV Aid Earned: 46% x $1,856.25 = $853.88
Step 4. Total Title IV Aid to be Returned: $1856.25 – $853.88 =$1,002.37
Step 5. Amount of Unearned Title IV Aid Returned by the School:
Subsidized Direct Loan $12.37
Unsubsidized Direct Loan $990.00
Total Title IV aid returned to federal programs $1,002.37
Refund of Funds from the Georgia Student Finance Commission (GSFC)
Students who withdraw after the census date (the end of the drop/add period) may receive state grant or scholarship payment for the costs incurred up to the term award. Students who withdraw before the census date are not eligible for state grants or scholarship payments for costs incurred for the term. State grants or scholarship payments received for the term, prior to the census date will be returned toGSFC. Students will be responsible for the balance caused by the cancellation of this financial aid.
Refund of Private Scholarships, Grants and Loans
Unless otherwise requested by the donor or a private scholarship, grant or loan award, the refund/cancellation of private financial assistance follows the pro-rata policy for the cancellation of institutional charges and institutional financial aid.
Academic Excellence.
Since 1879.
We’ve been educating bright minds for well over a century. That’s why a degree from GMC means more than just a great education. It means success.
