Tuesday, April 21, 2015
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Financial Aid Regulations

Conditions of Financial Aid Award

By accepting the MCC Award Letter, I hereby certify that I have read and understand the following statements:

1. I am responsible for reading and understanding the MCC Financial Aid Handbook/Procedures, including the Satisfactory Academic Progress Policy available online http://www.montgomery.edu/financial-aid-handbookprocedures.html or in the Office of Financial Aid.
2. I understand my award is conditional upon my enrollment in an eligible degree, diploma or certificate program at Montgomery Community College. I must inform the Financial Aid Officer of any changes in my enrollment status.
3. I understand I must submit all required transcripts (High School, GED, College, etc), to Admissions and have them evaluated in order to be eligible for financial assistance. At any point I attend another school I will submit an updated transcript. A new admissions application is needed if a student has missed a consecutive semester of attendance (other than summer).
4. I understand my award is contingent on adequate funds being made available to MCC from supporting agencies, including the Federal and State Government. A reduction in the College's financial aid resources may result in an adjustment to my award.
5. I am expected to notify the Financial Aid Office of any additional resources which become available to me from other sources, including loans, scholarships, grants, and educational benefits.
6. I am expected to notify the Financial Aid Office of any change in my family's financial status or of any change in my place of residence (including change in phone number or email address).
7. To remain eligible to receive aid, I must make satisfactory academic progress in my course work as outlined in the MCC Financial Assistance Handbook. I understand that excessive withdrawals may adversely affect my satisfactory academic policy and my ability to receive financial aid funding.
8. I understand if I register for classes and decide not to attend MCC, it is my responsibility to inform the Office of Financial Aid and Veterans Affairs and to officially drop or withdraw within published timeframes. If I fail to do so, the classes and respective charges may remain on my student record and be billed to my account.
9. I am responsible for payment of any developmental course hours in excess of 30 credit hours. Even if one module of a remedial math shell is passed, but the complete shell is failed the student will be charged for a total shell once you register for it again.
10. I am responsible for paying my tuition, fees, bookstore, and other outstanding charges if I am placed on Financial Aid Suspension or if charges exceed the amount of aid awarded by financial aid.
11. If my award includes a scholarship, loan or grant I hereby authorize Montgomery Community College to release information that the sponsoring agency may request.
12. I understand students may not receive Pell Grant to repeat courses with the grade of incomplete or for auditing a course.
13. I understand the funds awarded to me are to be used solely for expenses related to attendance at MCC.
14. I understand all awards, except Federal Work-Study, are disbursed on a semester basis. Federal Work-Study salaries are paid on the 15th day of every month for the previous month's work.
15. I understand all students receiving Title IV Federal Financial Aid will be subject to the Federal Return of Funds Policy. This policy affects financial aid students who completely withdraw, or who are unofficially dropped from all courses on or before the sixty percent point of the term. If aid is disbursed on your behalf and you completely withdraw or are unofficially dropped from all courses at MCC, I may be required to return certain financial aid funds. For further clarification, please consult the Return of Funds Policy stated in the Montgomery Community College Financial Assistance Handbook.
16. I understand there is a federal regulation requiring different payment procedures for students enrolled in the following clock-hour programs: Taxidermy, Dental Assisting, Practical Nursing, BLET. Payments will be made on the cumulative total clock hour conversion for the semester, rounded down.
17. I understand I can receive Title IV for a previously passed course only once as long as I am again receiving credit for the course. Aid will be paid repeatedly when the student fails to earn a passing grade. However, repeating a course counts as another attempt, which could negatively affect a student's SAP.
18. I understand certain drug convictions may affect your eligibility for Title IV Federal Financial Aid. Call 1-800-433-3243 for more information.
19. I understand a student is only allowed to receive financial aid for two degrees at MCC. (see SAP for complete description)
20. A student must register upfront for every class for the term they wish to receive financial aid. Students will be paid after the first applicable census date for the amount of hours they are enrolled in, have attended, and have actively participated in through the published 10% of the term. The student's aid will be adjusted to pay the amount of current enrollment at this point. If a student has registered upfront for a mini-mester course they will be paid for it after attendance has been verified. No additional awards will be made for the term if a class is added after the first applicable census date. Financial aid will not be credited to a student account before the 10% census date listed above. Likewise, students who fail to complete the term may be subject to an overpayment.

I hereby voluntarily authorize Montgomery Community College to credit my Pell award, other Federal Aid, State or Institutional Financial Aid funds to my student account to pay for current educational expenses such as tuition, fees, books, & supplies. I also authorize Montgomery Community College to hold any credit balance on my account until the College has verified my attendance, in order to make any adjustments necessary to obtain a correct and true credit balance owed to me. I understand this authorization allows me to charge to my student account, the purchase of textbooks, school supplies, and other miscellaneous items, at the Montgomery Community College/Ecampus bookstore. I understand that I am not required to make these or any other purchases at the College Bookstore, but I elect to make this authorization as a matter of convenience to myself. I further understand that the cost of these purchases will be deducted from the amount of the Student Aid funds which have been credited to my account as a result of this authorization. In the event any purchase made by me exceeds the amount of funds available in my student account, those purchases become a personal liability to me. I also understand that any tuition or bookstore charges become my personal liability if I become ineligible for financial aid or my award is reduced below the amount I have charged.

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