Accept Your Financial Aid Offer
Before Student Financial Services can disburse your financial aid, you must first accept, decline or reduce the awards offered to you and complete any requirements associated with your awards (example master promissory notes, entrance counseling) through MyCC. The amount that is disbursed is determined by the number of credit hours you are enrolled in at the time of disbursement. If your financial aid file is complete, your available financial aid will be credited to your Clarkson College tuition, fees, on-campus housing balances (if applicable) and other charges after the census date or when you have completed all requirements for disbursement.
Remaining Funds
Excess funds constitute the amount of your aid that is left after tuition, fees, and on-campus housing balances (if applicable) and other charges have been deducted. Clarkson College will mail a refund check to the address you have on record with the Registrar’s office only if not signed up for direct deposit refunds through MyCC. You may pick-up your refund check in the Student Accounts office; however, you must first contact that office to hold your check before it is mailed. Many students use their refund check to help cover the cost of textbooks purchased at the Clarkson College Bookstore.
If a balance remains after financial aid is received, you are responsible to pay the outstanding balance by the tuition payment date. Contact the Student Accounts department for information about payment plans or contact the Financial Aid Department for other funding options.
Repayment of Financial Aid
If at any point you withdraw from your courses at Clarkson College, you may be required to return/repay a certain percentage of federal financial aid that was or could have been disbursed. The amount of repayment required is based on formulas mandated by the Federal government. If the day the student withdrew occurs before the student completed more than 60% of the payment period or period of enrollment, the percentage earned is equal to the percentage of the payment period or period of enrollment completed. If the day the student withdrew occurs after the student has completed more than 60% of the payment period or period of enrollment, the percentage earned is 100%.
Federal funds that may have to be returned, in order of their required return, are Federal Direct Unsubsidized Loans, Federal Direct Subsidized Loans, Federal Direct PLUS Loans, Federal Pell Grants and Federal Supplemental Educational Opportunity Grants (FSEOG).