Refund Policy
Federal Title IV Grant: Title IV recipients become eligible for their quarterly Title IV Grant award after attendance through the sixty percent point of the quarter. All quarterly financial aid refund/award checks are mailed the 4th week of each quarter.
If a recipient of Title IV aid (Federal Title IV Grant) totally withdraws or stops attending all courses prior to attending sixty percent of the quarter, MTC must calculate the amount of Title IV aid the student has earned based on attendance and can award the student only this amount.
A student’s Title IV award will be recalculated as follows:
The percentage of Title IV aid the student earned is determined by dividing the number of calendar days attended during the quarter by the total number of calendar days in the quarter. This percentage is then multiplied by the Title IV aid initially awarded for that quarter to determine the amount of Title IV aid earned.
This new amount is the Title IV award the student is entitled to receive. If he or she is eligible for other aid programs that cover tuition and fees, this award may be used for other educational expenses incurred during the quarter. If the tuition and fees are funded with the Title IV award and the student withdraws or stops attending, the new award will be calculated to determine the school’s share and the student’s entitlement, if any. If the amount of Title IV aid earned is insufficient to cover tuition and fee charges, the student is liable for these charges.
