Resources

Satisfactory Academic Progress (SAP)

Federal regulations mandate that a student receiving financial assistance under federal Title IV programs must maintain Satisfactory Academic Progress (SAP) in his/her course of study regardless of whether or not financial aid is awarded each semester.

Students pursuing a certificate or associate degree are responsible for understanding and adhering to the financial aid satisfactory academic progress policy.  It is important for all students to understand that the primary financial responsibility for paying for college lies with the student and the parent.  All appropriate applications, documentation, and information must be accurate. 

In the case of a self-supporting student, the primary financial responsibility lies with the student and/or the spouse, if married.  Therefore, the purpose in completing the financial aid application process is to determine the expected contribution from income and assets toward the total cost of education by the student, his/her parents or spouse if married.

Summer (Year - Round) Pell Grant

Summer (Year - Round) Pell Grant is now available for students that qualify, even if the full Fall and Spring amounts have been used. To be eligible for the additional Pell Grant funds, the student must be otherwise eligible to receive Pell Grant funds for the payment period and must be enrolled at least half-time (6 credit hours) during the summer. 

Student must meet the Satisfactory Academic Progress (SAP) and submit a summer request form to the Student  Financial Aid Center before April of every year (date is tentative). 

Transient Students

You are considered a Transient student if you are currently attending another college or university an intend to enroll at LC with the intent to return to your home institution at the end of the summer.

Transient students are not eligible for financial aid at Laredo College, you must check with your home institution regarding financial aid eligibility. 

All Transient students are expected to complete payment on their classes by the scheduled payment deadline for the term they want to attend. 

If a student is incorrectly classified as an actual Transfer student, an awarded financial aid funds, all funds will have to be returned immediately upon review of status. 

Which Way Financial Literacy App

What is Financial Literacy ?

The possession of Skills and Knowledge that allows an individual to make informed decisions with all their financial resources. 

Laredo College Student Financial Aid Centers are focused on helping students succeed in college and beyond The WhichWay Financial Aid Literacy App provides essential life skills needed to overcome financial barriers, thus empowering current and future students make better decisions with their personal finances.   

WhichWay has ten simple modules that are designed as a series of self-paced micro learning lessons and exercises.WhichWay addresses different learning styles. The information is presented in a variety of ways including text, graphics, videos, activities and easy exercises. Best of all, it is available in the palm of your hand 24/7.  You can complete lessons when it’s convenient for you. Don't delay! Download WhichWay, a Financial Literacy App today!

Laredo College is excited to provide, to all registered students, an easy to access Financial Aid Literacy App called WHICHWAY.  WhichWay is a Financial Literacy App that can be downloaded from the App Store (iOS) or Google Play Store (Android). Engaging videos and interactive exercises will empower you to make better decisions with your financial resources.

No smart phone or tablet, not a problem. Visit WhichWay via internet at home, work, or our financial aid lab. 

If at any time you need help while using the WhichWay app for any questions or concerns or email whichway@studentconnections.org   

If you have any additional questions about the WhichWay Financial Aid Literacy App please call us at 956-721-5361 or email finaid@laredo.edu

Students With Loans

Loan Borrowers:

Are you behind on your student loan payment or cannot make payments or cannot get financial aid to continue your education because you defaulted on your student loans? Help is on the way! Loan Science is here to assist you to rehabilitate your student loan.

Has Loan Science reached out to you via email or by telephone? Relax! Please know Laredo College is on your side, you were called on behalf of Laredo College Financial Aid Office to assist you manage your Student Loan Debt. Laredo College wants you to complete your degree or continue your certificate program.

The Loan Science website is your guide to help manage your student loan(s). In fact, we have it down to a science. We can help you navigate your loan repayment options easily without any additional charges.

For further assistance or question with your Student Loans, please visit Loan Science at LoanScience or email loansupport@loanscience.com  or call at 1-866-311-9450.

Return of Title IV Funds Policy and Withdraws

Return of Title IV Policy

A student that withdraws, may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded.

If a recipient of Title IV grant withdraws from a school after beginning attendance, the amount of Title IV grant assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, then the student is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.

Laredo College Financial Aid uses the U.S. Department of Education R2T4 Web Product software and worksheets in the processing of R2T4 regulations.

Withdrawal Date:

Recalculations are done when:

• Financial aid students completely withdraw from all full-term classes prior to the 60% date of the semester. Calculations are done based on the student’s withdraw date.
• End of semester review of financial aid students who earn all non-passing grades or ceases attendance.  Calculations are done based on the 50% date of the semester, unless documentation exists verifying the student’s last date of attendance. 
• Financial aid student completely withdraws after the 60% date of the semester. Recalculation is done to confirm student is 100% eligible.
• Financial aid student does not complete 49% or more of the number of days in the payment period when registered in modules. 

A school is required to determine the earned and unearned portions of Title IV aid as of the date the student ceased attendance based on the amount of time the student spent in attendance.

Up through the 60% point in each payment period or period of enrollment, a prorate schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds he or she was scheduled to receive during the period. For a student who withdraws after the 60% point-in-time, there are no unearned funds. However, a school must still determine whether the student is eligible for a post-withdrawal disbursement.

Laredo College is not required to take attendance, therefore, the date of the institution’s determination that the student withdrew varies depending on the type of withdrawal as indicated below:

Official Notification –

A student may provide official notification of his or her intent to withdraw by completing a paper drop form provided by the Office of the Registrars. The date of the institution’s determination that the student withdrew would be the date the student began the official withdrawal process, or the date of the student’s notification.

Unofficial Notification-

If a student did not begin the official withdrawal process or provide notification of his or her intent to withdraw, the date of the institution’s determination that the student withdrew would be the date that the school becomes aware that the student ceased attendance or the last date of an academically related activity.

All other withdrawals without student notification –

For all other withdrawals without notification, the withdrawal date is the midpoint of the payment period or the period of enrollment, as applicable at an institution not required to take attendance by an outside entity.

A student registered in modules, that does not successfully complete the module or modules with a passing grade, will be considered a withdrawal.

Withdrawal procedures:

Complete a withdrawal form found in the Registrar's Office on campus. It is the student’s responsibility to officially withdraw from any class they do not wish to attend. Students who stop attending classes and who do not officially withdraw may be assigned a final grade of “F_”.

Formula Calculation:

The calculation of earned and unearned Title IV funds includes both Pell and FSEOG funds if they were disbursed or could have been disbursed to a student for the period of time for which the calculation is being performed (payment period or period of enrollment). Institutional charges are used to determine the portion of earned or unearned Title IV aid that the school is responsible for returning.  The institutional charges used in the calculation usually are the charges that were initially assessed by the student for the entire payment period or period of enrollment as applicable. Initial charges may only be adjusted by those changes the institution made prior to the student’s withdrawal (for example, for a change in enrollment status unrelated to the withdrawal). If, after a student withdraws, the institution changes the amount of institutional charges it is assessing a student, or decides to eliminate all institutional charges, those changes affect neither the charges nor aid earned in the calculation.

Institutional charges:

Generally, are defined as the charges for tuition and fees, and other educational expenses, applicable charges for books, supplies, materials, and equipment. If a fee (like a registration or technology fee) is required for all students in a program, then the fee should be considered an institutional charge. A charge does not have to appear on a student’s account to be considered an institutional charge.

The following educational expenses must be considered institutional charges:

All charges for tuition, fees, and expenses for required course materials, if the student does not have a real and reasonable opportunity to purchase the required course materials from any place but the school.

Not included in a Return calculation are Non-institutional charges such as:

Application fees, charges for any required course materials that a school can document a student had a real and reasonable opportunity to purchase elsewhere.

LC Financial Aid Office regularly runs the “Students who have Dropped/Withdrawn from all classes Report” to determine which students need an R2T4 calculation to be performed. 

If the R2T4 calculation determines that the student received more Federal Student Aid than the amount earned, the school, the student, or both, must return the unearned funds in a specified order, up to the net amount disbursed from each source:

Federal Pell Grants for which a return of funds is required.

Federal Supplemental Educational Opportunity Grant (FSEOG) for which a return of funds is required.

The Financial Aid Office will notify the Bursars Office which funds need to be returned to the U.S. Department of Education. Unearned funds will be returned as soon as possible, but no later than 45 days from the school’s determination of a student’s withdrawal.  The Bursars Office will deposit or transfer the funds into the school’s federal funds bank account.  

A student does not have to repay a grant overpayment of $50 or less for grant overpayments resulting from the student’s withdrawal. As a result, a grant overpayment of $50 or less will not make the student ineligible to receive Title IV, HEA program assistance should the student return to school. A school is not required to attempt recovery of that overpayment, report it to the Department’s National Student Loan Data System (NSLDS), or refer it to Borrower Services.

If the student receives less Federal Student Aid than the amount earned, the school must offer a disbursement of the earned aid that was not received. This is called a post-withdrawal disbursement.  A school must maintain written records of its post-withdrawal disbursements. A school is required to make (or offer as appropriate) post-withdrawal disbursements.

A school may credit a student’s account for minor prior award year charges in accordance with the cash management requirements. Schools should make every effort to explain to a student that all or a portion of his or her post-withdrawal disbursement has been used to satisfy any charges from prior award years.

A school must disburse any amount of a post-withdrawal disbursement of grant funds that is not credited to the student’s account. Moreover, the school must make the disbursement as soon as possible, but no later than 45 days after the date of the school’s determination that the student withdrew.

The actions a school must take before it may disburse funds from a post-withdrawal disbursement vary depending on the source of the funds.

In addition, the notice must request confirmation of any post-withdrawal disbursement that the student wishes the school to make.

A post-withdrawal disbursement must be made within 180 days of the date the institution determines that the student withdrew. The amount of a post-withdrawal disbursement is determined by following the requirements for calculating earned Title IV Aid, and has no relationship to incurred educational costs.

Laredo College Financial Aid Office uses the reports to track the handling of the post-withdrawal disbursement. Post-withdrawal disbursement records are maintained electronically.  Financial Aid notifies students of post-withdrawal disbursements by email. Financial Aid disburses any Title IV grant funds a student is due as part of a post-withdrawal disbursement within 45 days of the date the school determined the student withdrew, after receiving notification from the student, the LC Bursars Office issues a post-withdrawal refund check to the student.

When a Return of Title IV funds is due, the school and the student may both have a responsibility for returning funds. Funds that are not the responsibility of the school to return must be returned by the student. Although these requirements talk in terms of returning funds, a school is not required to actually return its share before the student. Rather, it is the Return calculation of the amount of assistance the school is responsible for returning to the Title IV accounts that must be calculated first. Thus, the student’s repayment obligation is determined after the school’s share is calculated.

The school must return the lesser of – the amount of Title IV funds that the student does not earn; or the amount of institutional charges that the student incurred for the payment period or period of enrollment multiplied by the percentage of funds that was not earned.

The Financial Aid center notifies the Bursars Office of unearned Title IV funds that the school is responsible for returning.  Both Offices work together in assuring that these funds are returned within 45 days of the date the school determined the student withdrew, and offer any post-withdrawal disbursement of funds within 30 days of that date.

INSTITUTIONAL REFUNDS:

The state-mandated refund policy for credit classes is outlined below. Refunds for 100 percent are calculated based on withdrawals and drops occurring prior to each semester’s first-class day. Each semester’s first-class day is always the first official day of the semester, not the first day of an individual’s class. Students in cancelled classes, who do not add another class, will automatically be dropped and a full refund, less nonrefundable fees, processed. Credit amounts resulting from registration activity will be applied to any outstanding charge before a refund is processed. Refunds are processed on a weekly basis. Refunds will be issued to the School Card/Debit Card, Personal bank account or by check. Refunds issued as checks are mailed to students at the address on file in the admissions/Registrar’s Office.

Refunds of Tuition and Fees:

Students who officially withdraw from LC by dropping all their courses will have their tuition and fees refunded according to the following schedule. All students will be charged a $10.00 matriculation fee if they drop all courses (withdraw from college) before the first-class day. If they drop after the first day of classes, the $10.00 matriculation fee will be charged and a percentage of tuition and fees will be refunded according to the date of withdrawal. The student has the ultimate responsibility to ensure that an official withdrawal/drop slip is completed, submitted to the Office of Admissions, and processed. Students receiving financial aid may be subject to the Return to Title IV refund policy.

Tuition and fees paid directly to the institution by a sponsor, donor, or scholarship shall be refunded to the source rather than directly to the student. When a student withdraws and owes money, the full amount of the unpaid balance is due. Withdrawing from the College does not cancel indebtedness.