Financial Aid Terms of Agreement
In accepting an offer of financial aid, you acknowledge responsibility for understanding and complying with the TERMS OF AGREEMENT. This official agreement between you and the Financial Aid Office is in force throughout the length of the award. The TERMS OF AGREEMENT is subject to amendment without notice because of frequent changes in the laws, rules and regulations that govern financial aid. The following TERMS OF AGREEMENT applies to all financial aid programs.
AVAILABILITY OF FUNDS
All financial aid awards offered by Modesto Junior College are limited to the availability of funds.
ACADEMIC QUALIFICATIONS
To be eligible to receive Financial Aid funds, you cannot be concurrently enrolled in high school and must have:
1. Earned a high school diploma, GED, or equivalent OR
2. Passed the “Ability-to- Benefit” (ATB) Test (available in the MJC Testing Center) OR
3. Have successfully completed 6 core units (Financial Aid will assess MJC transcripts for core units).
CHANGE IN ENROLLMENT/ATTENDANCE STATUS, WITHDRAWAL, AND LEAVE OF ABSENCE
Our offer of financial aid is contingent upon your admission, enrollment, and attendance at this college. You must be enrolled for the purpose of obtaining a degree or eligible certificate, or you must be enrolled in a transfer program leading to a Bachelor’s degree. Minimum enrollment for all programs except Federal Pell Grant is six units. For students meeting specific eligibility requirements, Federal Pell Grant may be available at less than half time. Your award offer is based on full-time enrollment (12 units or more) and is subject to change if your unit load is less than full-time. The Federal Pell and Cal Grants are disbursed according to your unit load as follows:
FULL-TIME
12 units: 100% of award
THREE-QUARTER
9-11.5 units: 75% of award
TIME HALF-TIME
6-8.5 units: 50% of award
A change in enrollment/attendance status during a semester could change or cancel your award. Should you withdraw or take a leave of absence, your remaining financial aid award for the current semester will be canceled. If you drop prior to attending a class you will be considered NO SHOW and will be subject to repaying all the funds back.
USE OF FINANCIAL AID FUNDS
You must use your financial aid funds only for expenses that are directly related to your cost of education (tuition and fees, books and supplies, room and board, transportation, personal expenses, and school-related dependent care expenses).
DISBURSEMENT OF FUNDS
Financial aid funds are typically disbursed in installments over the course of each semester. Your disbursement schedule may vary depending on your application date, types of aid you are awarded, and course start dates. Financial Aid disbursements are paid out in the form of a check mailed out or through direct deposit. Please keep a record of all the payment dates listed in your MJC Award Letter Email. It is your responsibility to keep your mailing address and contact information current with the MJC Admissions Office in order for us to be able to contact you and mail your check(s) without delay.
ENROLLMENT AT MORE THAN ONE INSTITUTION
Federal law states that a student may not receive financial aid from two separate institutions at the same time. A student attending more than one college during the same semester should apply for financial aid at the school where he/she is enrolled in the greater number of units. Any student in this situation should ask the Financial Aid Office for additional information regarding a “Consortium Agreement,” which may allow the disbursing college to consider units of attendance at another institution.
RETURN OF FEDERAL FUNDS REGULATION
A complete withdrawal from classes or not successfully completing at least one course will affect your financial aid. Dropping units to less than half time will require you to owe back all or part of your disbursement. If you drop all units before 60% of the semester is completed you may owe a repayment of your Federal Grants award according to the Return to Title IV Funds Regulations. It is your responsibility to officially complete the withdrawal process with the Admissions Office. In addition, you must immediately notify the Financial Aid Office that you are no longer enrolled and state the last day you attended each class. The Financial Aid Office will calculate the portion of your grant(s) that is “earned” or “unearned” to determine if you are eligible for additional funds or if you have an overpayment that you must be repay. Those calculations are based on the percentage of days in the semester you completed and proof of attendance to any academic related activity. Any unresolved overpayment may result in the loss of your eligibility for future Federal financial assistance.
DEDUCTION OF OBLIGATIONS
Obligations owed to Modesto Junior College or Columbia College may be deducted from your financial aid grant disbursements. Obligations will not be deducted from Federal Work-Study earnings.
ENROLLMENT AFFECTS FINANCIAL AID
Students on a wait list of have not registered for all courses prior to a refund date could have their funds delayed or amount reduced. All Cal Grant C recipients must be enrolled in at least six (6) units and in a technical / vocational course of study. The financial aid office determines student eligibility for the Cal Grant C each semester after enrollment.
ADDING / DROPPING
Adding and dropping units can cause a change in the amount of the award you receive. Dropping units during the semester of dropping all courses will cause the financial aid award to be recalculated. A semester award may be reduced and a repayment may be required.
For example, if you are funded as a Fulltime student and then drop to halftime by the second disbursement (check) date, you would only be eligible for your first payment (50%). You would be considered paid completely as a ½ -time student and would not receive a second check. This is just an example:
|
Full-Time Award (One Semester) |
$2,025 |
|
|
1st Payment 50% |
Full-Time |
$1,013 |
|
2nd Payment |
Dropped to ¾ time |
$506 |
|
2nd Payment |
Dropped to ½ time |
$0 |
Dropping to less than half time will require you owe back all or part of your first disbursement. If you drop all units before 60% of the semester is completed you may owe a repayment of your Federal Pell award all according to the Return of Title IV Funds Regulation.
REFUNDS / PAYMENTS / DISBURSEMENTS
All financial aid funds are sent to the students MyYCCDCard. Students must activate their MyYCCDCard and have a choice to have the funds sent Easy One directly to their card or ACH to their personal checking or saving account.
Refund dates will be listed in the students Financial Aid Award Notice which is sent the to the students college e-mail address. If a student has dropped units or is not attending and received financial aid the student will be subject to repay of the financial aid funds. Any funds not repaid will be reported to the Department of Education.
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