Financial Aid Policies

General Policies

Satisfactory Academic Progress

All matriculated students, even if they do not receive Federal Title IV financial aid, must maintain satisfactory academic progress.  Read the complete policy and regulations.

Withdrawal from Classes

If a student withdraws from classes, the student may be required to repay a portion of any federal or state financial aid that was received for use during that period. A complete refund of tuition and fees will be issued if a student cancels a registration before the first day of classes. Once classes begin, refunds are prorated based on the official date of withdrawal (or non-attendance) from class(es). If a student drops credits or withdraws from the college, or if an express semester class is cancelled, the student may be responsible for all or part of any unpaid charges. If the student is eligible for an amount of earned aid not yet received, the student will be contacted by the Student Accounts Office. Refund monies are distributed back to financial aid accounts in accordance with federal and state regulations. Contact the Student Accounts Office with refund and calculation questions at (845) 687-5099.

Withdrawal from College

Financial aid recipients withdrawing from the College MUST secure a clearance signature from the Financial Aid Office. This requirement is to ensure that all matters regarding financial aid awards, refunds, and student loan obligations are taken care of prior to leaving the College. Students not contacting the Financial Aid Office will be billed for any refund overpayment received, and will be unable to re-enroll until such time that the overpayment has been returned to the U. S. Department of Education (or the college in some cases). Students with Direct Loans (Stafford and Unsubsidized Stafford) must complete an exit interview at studentaid.gov

Non-Attendance

If a student fails to attend class(es), the student may be required to repay a portion of any federal or state financial aid that was received for use during that period. In some cases, financial aid awards can be cancelled, and the student would be required to repay the financial aid award(s).

Overawards

It is the student's responsibility to advise the Financial Aid Office of all scholarships, outside awards, or other resources that the student may receive. If at any time it is discovered that the student has been over awarded financial aid, the student is responsible for repaying the amount that exceeds eligibility regardless of the reason for the over award.

Verification

Students/parents sometimes make errors on their application. Colleges are required to have procedures for verifying the reported information.

A Student Aid Report can be selected for verification:

• by the U.S. Department of Education

• by the college

Students must provide all requested verification documentation.
Required Verification Items include:

• household size

• number in college

• adjusted gross income

• U.S. taxes paid

• certain types of untaxed income and benefits

  • Child Support

  • IRA/Keogh deductions

  • Foreign income exclusion

  • Earned income credit

  • Interest on tax-free bonds

  • TDA/TSA

For more information on this topic please visit the Federal Student Aid (FAFSA) website.