Financial Aid

A student with suspension of financial aid eligibility may attend MCC at his/her expense unless he/she is also on academic suspension. The suspended student must attain a 2.00 GPA during that semester and attain the minimum cumulative grade point average outlined by the satisfactory academic progress policy for federal financial aid recipients in order to be reinstated.

Students should access EagleNet to view the types and amounts of aid he/she has been awarded.

Once all of the required information is submitted to the Financial Aid Office and grant eligibility is determined, a student receives an award letter. The award letter should be returned to the Financial Aid Office only if the student is declining his/her aid package.

Award letters are sent to notify students of Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), MTAG/MESG, and some institutional scholarships. The FSEOG funds are limited and will be awarded to students on a first-come, first-served basis, after the deadline dates. In August, supervisors of the Federal Work-Study Program notify students of interview opportunities.

Student loan awards are available for viewing on EagleNet once they have been awarded. Recipients of scholarship awards are notified by mail as selections are made.

In compliance with Section 493A of the Higher Education Act of 1965 as amended, certain consumer information will be made available to any student or prospective student at Meridian Community College. This information will include a description of all financial aid programs, application procedures, eligibility requirements, criteria for recipient selection, a statement of the rights and responsibilities of students, means of payments and any other financial aid information.

Information will also be made available concerning cost of attendance, academic programs, refund policy, student retention, the number and percentage of students completing programs if available, assistance for the disabled, and other general information pertaining to MCC. The financial aid office will provide this information to students requesting it or help students obtain the information.

Refund Policy for Students Who Receive Title IV Federal Financial Aid and Withdraw From School

Recipients of Federal Title IV Financial Aid who completely withdraw from classes are required to have their award recalculated.  Federal Title IV Financial Aid includes: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Leveraging Educational Assistance Partnership Grant (LEAPP) and Federal Stafford Student Loans.

The Higher Education Amendments of 1998 define “withdrawal” as failure to complete the period of attendance on which federal aid eligibility was based.  Therefore, this policy affects not only those individuals who complete the formal withdrawal notification process, but also those students who simply stop attending classes.  In either case, when a recipient of Title IV funds ceases attendance during a term, MCC must calculate how much federal aid was earned and how much was unearned.  The amount of aid a student has earned for the term is based on the length of time the student remains enrolled for that term. The unearned amount must be returned to the Title IV programs.

MCC will begin by determining the percentage of the term completed.  This percentage is determined by dividing the number of calendar days completed as of the date of withdrawal by the total number of calendar days in the term.

• If the student withdraws on or before the 60 percent of the term has elapsed, the percentage of federal aid earned is equal to the percentage of the term completed.
• If the student withdraws after 60 percent of the term has elapsed, the percentage of federal aid earned is equal to 100 percent.
  
  

The amount of federal aid earned is equal to the percentage of funds earned multiplied by the total amount of funds that was disbursed (or could have been disbursed) as of the day the student withdrew.

Repayment of the unearned amount

MCC will return the lesser of:

• Total amount of unearned aid or
• Institutional charges multiplied by unearned percent
  
  

The student will return:

• The amount of unearned federal aid after MCC has returned its share
  
  

Unearned funds are first applied (paid back) to any Title IV loans borrowed during the term.  Unearned funds are required to be returned to Title IV loans in the following order:

• Federal Unsubsidized Stafford Loan
• Federal Subsidized Stafford Loan
• Federal PLUS Loan

 

When the school must return loan funds to the lender on the student’s behalf (or parent’s in the case of a PLUS loan), the student’s account will be charged for this amount.  When the federal calculation determines, instead, that it is the student’s (or parent’s) responsibility to return funds directly to the lender, the unearned funds are repaid in accordance with the terms of the loan.

If unearned funds remain after all loans have been repaid, the remaining unearned funds must be credited to the Title IV programs in the following order:

• Federal Pell Grant
• Federal SEOG

 

When MCC must return grant funds on the student’s behalf, the student’s account will be charged for this amount.  When the responsibility for repaying funds to the Title IV grant programs falls to the student, the student is required to return only 50 percent of the grant overpayment as calculated using the federal formula. Grant overpayment may be collected according to arrangements satisfactory to the school or by overpayment collection procedures prescribed by the Department of Education.

A financial aid professional is to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government sponsored, subsidized, or regulated activity.  Because of this reason, Meridian Community College abides by the following code of conduct.

A Financial Aid Professional should:

• Refrain from taking any action for his or her personal benefit.
• Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she serves.

• Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
• Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
• Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the U.S. Department of Education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory board or as a part of a training activity of or sponsored by any such entity.

• Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any aspect of student financial aid.
  
  

By following this code of conduct, the financial aid office is committed to making sure our students receive the best possible experience while attending Meridian Community College.  If at any time anyone feels that this code of conduct has been violated, please contact the Director of Financial Aid Director or the Dean of Student Services.

Meridian Community College does not discriminate on the basis of race, color, national origin, sex, disability, religion or age in admission or access to, or treatment or employment in its programs and activities. Compliance with Section 504 is coordinated by Mrs. Deanna Smith, Dean of Student Services, 910 Highway 19 North, Meridian, MS  39307.  601.484.8895, Fax: 601-484-8635, email: dsmith40@meridiancc.edu. Compliance with Title IX is coordinated by Mr. Derek Mosley, Social Science Instructor, Smith Hall, 910 Highway 19 North, Meridian, MS  39307.  601.553.3453, Fax: 601.484.8635, email: dmosley@meridiancc.edu.