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Award changes
All financial aid awards are subject to change if your financial situation changes or an over-award occurs.
The Financial Aid Office adjusts awards throughout the drop/add period. After the drop/add period, awards are not automatically adjusted unless a "never attended" or a "complete withdrawal" is received from the instructor before the start date. You must report any changes in your enrollment status to the Financial Aid Office.
The Financial Aid Office voids any award if it is determined that you provided incorrect or false information on the financial aid application.
Overawards
An overaward exists when your aid package exceeds the total cost of your need.
If you receive any resources at any time during the award year – such as outside scholarships and employer reimbursements – that were not considered in calculating your eligibility for aid, and these resources combined with your expected financial aid will exceed your need, the amount in excess of your need is considered an over-award.
You must notify Central Piedmont of any additional assistance that you receive after your financial aid need is calculated. The Financial Aid Office reserves the right to adjust a financial aid package in the event of an over-award.
Refunds
After your financial aid has disbursed to your student account, tuition, fees and book charges will be deducted. Then, any balance that remains in your account may be refunded to you.
Some types of financial aid may not qualify for a refund (such as various scholarships or sponsorships).
Class attendance also impacts eligibility for refunds. To maintain eligibility for awarded aid, you earn federal and state aid by attending class at least through the 60% point of the enrollment period. Failure to remain enrolled and attend classes as required may result in the reversal of awarded aid. You are responsible for repaying refunds if you do not attend through the 60% point of the enrollment period.
Refund schedule
Remaining financial aid funds, after tuition/fees and books, will be disbursed to you on scheduled refund disbursement dates. Financial aid will be credited to your Central Piedmont student account based on the start date of each course. The actual date that you receive your refund is based on the refund preference you selected:
- September 18
- October 9
- November 13
- December 11
Scheduled refund dates (PDF) are subject to adjustment if technical problems, system issues or other unplanned challenges occur.
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Refund method
Your refund will be paid to you via BankMobile or a wire transfer to your personal checking/savings account. If the Business Office has sent you a refund by check because your BankMobile card was not set up, it is up to you to ensure that those funds are cashed to your bank account in a timely manner. If the check is misplaced or an incorrect address on file causes it to be sent back to the Business Office, you must contact them to re-issue it.
There is no guarantee that unclaimed checks can be re-issued after 90 days. Unclaimed funds reported to Financial Aid by the Business Office may be canceled with no guarantee of being re-awarded due to Federal and State spending deadlines.
Unclaimed financial aid
The Financial Aid office reports and remits all unclaimed funds, ensuring compliance with the laws of the State of North Carolina and the Department of Education (federal laws). If you:
- have never selected a refund preference with BankMobile Disbursements
- have not cashed a refund check
your financial aid funds will be voided and returned to the appropriate agency (such as North Carolina Department of State or the federal Department of Education) within 90 days. If your voided funds are North Carolina grants, these funds, by law, will be turned over to the Department of State Treasurer (escheated). You can check the State Treasurer’s website to claim these funds. Funds can be reissued only before August 1 for the prior fiscal year award (July 1 to June 30). Funds from prior award years cannot be reissued.
It is important that you keep your addresses, telephone numbers and email addresses on file with the college updated. You can make changes to your personal information online in MyCollege or in person at a Records and Registration office at any campus location.