If you withdraw from Saint Paul College before the add/drop date for a term, you will not receive financial aid funds because there will be no class registration. If you withdraw from attendance at Saint Paul College for any reason after the add/drop date for the term, you will be placed on financial aid probation the following academic term.
Students who receive financial aid and withdraw from all classes are subject to a federal Return of Title IV Funds policy. The policy states that if you withdraw up through 60% of the semester, a proportional amount of financial aid either received or that was applied to your student account must be refunded to the federal government.
Example: If a student receiving a Pell Grant of $2000 drops out after 50% of the term, 50% of the Pell Grant received, $1000 must be returned to the federal government by the student and/or institution, minus 50% of the student's calculated share for Pell and SEOG.
Any institution refund calculated within the first four weeks of school term will be applied to the student's account to reduce the student's share of the Return of Title IV Funds.
Funds returned to the federal government are used to reduce the federal program amount for which funds were disbursed. Funds are returned in the following order:
- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal PLUS Loan
- Federal Pell Grant
- Academic Competitiveness Grant
- Federal SEOG Grant
- Other assistance under Title IV for which a Return of Funds is required
After the institution's share of any required refund to Title IV programs has been refunded, a proportional share of any remaining institutional refund (not to exceed the amount of the State Grant payment the student initially received for the term), must be returned to the State Grant Program.
Consortium Agreements for Financial Aid
If you are taking classes required for your program at Saint Paul College at another college, you must complete a consortium agreement if you would like those courses considered for financial aid eligibility. The Consortium Agreement form is available in the Financial Aid Office, and must be completed with an attached registration form from the host school and submitted to the Financial Aid Office by the add/drop deadline. If a consortium agreement is not submitted, financial aid calculations cannot consider courses taken at the host school you cannot receive financial aid at two different schools during the same semester of enrollment.
Tuition and Fee Deferments
Tuition and fees will be deferred provided the following has been met by the posted tuition deadline for the term.
- Student has received an Award Letter with financial aid eligibility equal to or greater than the tuition/fee charge. (Loan only eligibility requires a submitted Promissory Note).
- An electronic Institutional Student Information Record (ISIR) is received resulting from submission of a FAFSA.
Any tuition/fee balance not covered by Financial Aid is the student’s payment responsibility.
Financial Aid Book Charging Process
You may charge the cost of your books prior to financial aid being disbursed if you meet all the following criteria:
- You have received your Financial Aid Award Letter and have completed the loan application process if you will be using loan funds to pay for books and supplies.
- You are registered for Fall 2012 classes.
- The total financial aid you will be receiving, at your registered credit level, exceeds your current account balance.
- You have activated your Saint Paul College e-mail account.
- Completed and submitted a Book Charging Request online.
The Financial Aid Book Charging allows students to charge books and supplies at the Saint Paul College Bookstore and is administered by the Tuition Office
Go to Financial Aid Book Charging Process
Education Tax Credits
The Taxpayer Relief Act (TRA) of 1997 provides for two tax credits that students may be eligible to claim: The Hope Scholarship Tax Credit and the Life-Long Learning Tax Credit. The Hope Scholarship Tax Credit is a tax credit and not a scholarship. If you do not pay federal income tax, this credit will not apply to you. The credit applies to students enrolled at least half-time for at least one term during the calendar year. The credit applies only to citizens or permanent residents of the United States. The credit applies only to tuition and academic fees paid for by the taxpayer (not by grants or third party sponsors). If your grant or other payment will pay for books or other living costs and you pay for tuition and academic fees yourself, you may claim the credit; however, you must report the grant or other payment as income.
Many details surround the Hope Scholarship Tax Credit and the Life-Long Learning Tax Credit. Saint Paul College does not provide Income Tax Counseling. We recommend that you consult with a tax professional to see if you qualify. Information on the Hope Tax Credit is available in the Tuition Office. Tax Credit brochures are available in the Financial Aid Office.