Understanding your responsibilities as a financial aid student is an important factor in achieving your educational goals at Charter Oak State College. It will ensure that funding is available to assist you now and in future semesters.
Since financial aid is awarded on the understanding that you will complete all of the classes that you are registered for, changes in enrollment may affect your financial aid at any point in time during the semester. The basic funding principle is that you “earn” financial aid through attendance in your semester classes.
Dropping, withdrawing, or simply not attending classes may result in negative adjustments to your current financial aid award. It may also result in you owing money to the college. Even if you have received a financial aid refund check, as a result of excess financial aid dollars, you may be required to return all or a portion of the refund if more aid was disbursed than was “earned” by you.
It is especially important to understand the College’s Title IV Refund Policy (R2T4) if you are thinking of dropping, withdrawing, or have stopped attending classes. As always, we encourage you to contact the Office of Financial Aid before you drop or withdraw from a course.