Your Financial Aid Award. The amount and type of assistance you have been offered is based on your financial need, the availability of funds at the time that your file was completed, your cost of attendance and actual enrollment. In addition to Federal and State funds, your award may include other financial assistance offered by the College such as scholarships, as well as any private scholarships you may expect to receive from external sources. You may not receive Federal/State Aid at multiple institutions simultaneously.
Your Award is subject to change and it may be cancelled or adjusted if any of the conditions listed below exist:
- You have knowingly misrepresented, provided incorrect or false information on any one, or all applications for financial aid and/or admissions.
- Your enrollment status has changed. You must be enrolled in an “eligible” program at least half time to qualify for financial aid. Exception: If your EFC is less than 3501 you may be eligible to receive a Pell Grant for less than half-time enrollment.
- The financial aid awarded to you, exceeds your Cost of Attendance. When receiving need-based aid, you cannot receive funds in excess of what it costs to come to school. You must notify the Financial Aid Office immediately if you receive assistance from outside sources.
- You make changes to the FAFSA that change your eligibility for financial assistance (change could increase or reduce your award)
Making Corrections on your Student Aid Report (SAR). PLEASE DO NOT MAKE CORRECTIONS TO YOUR SAR (Student Aid Report-response from the FAFSA application) after receiving your award without consulting a Financial Aid Administrator. If your personal or financial circumstances change and you feel that your eligibility for aid may be affected, consult with a Financial Aid Administrator to determine if you meet the conditions for submitting a correction to the federal processor. Any corrections you make may jeopardize your eligibility, awards and/or delay financial aid disbursements. A correction may generate a request for additional information before an award is revised, if applicable.
Financial Aid Disbursements. The College processes refunds to students within two weeks of the 100% refund date of the term, and weekly thereafter. All refunds will be processed through your MDCOne account. For more information, see MDC OneCard Whats Changing.PDF?
Payment of Fees and Financial Obligations. Term fees and current financial obligations due to the College will be deducted from the financial aid award(s) with the exception of earnings from student employment. Financial aid funds that exceed charges will be refunded to you. If your award is less than your fees, it is your responsibility to pay any remaining balance due, before the deadline to pay for fees to avoid cancellation of your courses. Each time you add a course, you must go to the Bursar's Office and obtain a receipt for payment. You will be “fee liable” for all courses on your class schedule after the last day of the Drop/Add period of the semester.
Dropping/Withdrawing. The funds you are awarded are intended to help meet your cost of attendance while enrolled at the College. If you withdraw, drop out of school (officially or unofficially) or drop below half-time, federal regulations mandate that you repay a portion or all the aid paid to you. The “Return to Title IV Funds Policy” includes the following financial aid programs: Pell Grant, Supplemental Education Opportunity Grant (SEOG), Perkins Loan, Subsidized and Unsubsidized Stafford Loans, and PLUS Loans. The amount of aid to be returned is based on a formula established by the U.S. Department of Education. Failure to repay funds due to a federal program may affect future eligibility for aid at MDC or any other institution you may attend after leaving MDC.
Enrollment Status. You must be enrolled at least half-time to receive most financial aid (except the Pell Grant if your EFC is below 3501). Full-time enrollment is defined as twelve (12) credits or more per semester and half-time enrollment is defined as six (6) credits per semester. Your enrollment status for financial aid purposes will be calculated at the end of the drop/add period each term and awards will be adjusted accordingly to reflect your actual enrollment status. You must be fully admitted (i.e., all admissions requirements/documents have been satisfied) into a degree-seeking program or qualified certificate program.
College Prep Courses. You can only receive aid for up to 30 attempted college prep courses from any Federal or State Funds, including Work Study.
Standards of Satisfactory Academic Progress. Federal regulations require the College to establish Standards of Satisfactory Academic Progress as a general eligibility requirement for financial assistance. Satisfactory Academic Progress is reviewed annually at the end of the Spring semester. The federal criteria for Standards of Satisfactory Academic Progress require that you maintain: a minimum grade point average, complete a minimum number of credits each year you are enrolled and limits the time-frame for receipt of aid in relation to your degree requirement Failure to meet the requirements of the Standards of Satisfactory Academic Progress and academic good standing will result in the suspension of financial aid eligibility. For complete details view the Standards of Satisfactory Academic Progress.PDF policy.
Information Disclosure
The Privacy Act exists to protect your right to confidentiality and limits our ability to release information about your financial aid application. Any documentation submitted by you and/or your parents and details of your award package are considered confidential and will not be released to anyone without your written consent. Information released over the telephone will be of a general nature. Specific details must be discussed in person.
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