Financial Aid Policies & Procedures
In addition to being aware of the terms and conditions around financial aid, students are also obligated to be aware of the following policies:
Satisfactory Academic Progress
In accordance with federal and state regulations and MnSCU Policy 2.9, Anoka-Ramsey Community College shall monitor all credits for all students and shall apply the following minimum cumulative standards of progress beginning with a student's sixth (6th) attempted credit:
- Qualitative: Students are expected to meet or exceed a cumulative earned grade point average (GPA) of 2.00.
- Quantitative: Students are expected to meet or exceed a cumulative earned percentage of 67%.
- Maximum timeframe for financial aid recipients: Students may continue to receive financial aid through 150% of the published credit lenth of the program (example: 150% of a 60 credit program equals 90 credits). All local attempted credtis and transfer credits into Anoka-Ramsey Community College count towards the maximum time frame.
See satisfactory academic progress policy for additional information.
Drug Conviction Notification
As prescribed in Section 484A of the Higher Education Act of 1965, a student becomes ineligible to receive federal Title IV financial aid if the student is convicted of an offense under any federal or state law involving the possession or sale of illegal drugs during a period of enrollment for which the student was receiving federal Title IV financial aid.
If a student has been convicted of such an offense s/he should contact the Anoka-Ramsey Community College Financial Aid Office for further information on the steps necessary to regain eligibility.
Refunds to Minnesota Financial Aid Programs
For students receiving State financial funding, the Minnesota Office of Higher Education refund policies will apply.
Return of Title IV Funds Policy
Federal Student Aid funds are awarded to a student based on the assumption that the student will attend school for the entire period for which assistance is awarded. A student who stops attending class(es) must immediately withdraw from class(es), and is responsible for understanding the impact of such action on his/her student account.
Financial aid recipients who totally withdraw or stop attending classes prior to the 60% point of the term are subject to the federal Return of Title IV calculation for federal aid. The amount of unused aid to be returned is calculated by dividing the number of remaining business days by the total number of business days in the semester. Breaks of more than four consecutive business days are excluded. Examples of both calucations are available in the Financial Aid Office at the student's request.
The responsibility to repay the unearned financial aid is shared by the institution and the student. The institution's share is allocated among the Title IV programs before the student's share, in the following order: Federal Unsubsidized Stafford Loan, Federal Subsidized Stafford Loan, Federal Perkins Loan, Federal PLUS Loan, Federal Pell Grant, Academic Competitiveness Grant and Federal SEOG. The student share of remaining unearned aid is collected from the student and allocated in the same order indicated above.
Return of financial aid calculations are performed no later than 30 days after determining the student withdrew or stopped attending classes. Students return their share of unearned aid attributable to a loan under the terms and conditions of the promissory note. Grant repayment is made to the college under the repayment guidelines identified in a notice sent to students after the recalculation is complete.
- The Financial Aid Office tracks attendance/last date of activity on financial aid recipients. If it is determined a student received financial aid for a course he/she did not attend, his/her financial aid will be recalculated at the lower enrollment status.
- Students may also be eligible for a partial tuition and fees refund. See ARCC's refund policy.
Verification of Application for Financial Aid (FAFSA)
Anoka-Ramsey Community College will verify ALL student applications selected by the FAFSA processor. Verification documents will be requested of the student upon receipt of the FAFSA. Documents must be received and verification performed before any disbursement of financial aid wll be made. If there are errors, we will update your application, recalculate your aid eligibility and send a current award letter to you. Any documents received after 120 days after the last date of enrollment (or date published by the Department of Education, whichever is earlier) will not be processed. Financial Aid Adjustments
Changes to your schedule after the add/drop period for Pell Grant
Your class schedule must be firm and you should not make any changes after the 5th day of the semester or you risk aid reductions. It is expected that you will attend your registered courses. If you decide to add a late start course after the 5th day of the semester your Pell Grant cannot be adjusted for the increase in credits. If you drop a class and add another class that is the same number of credits after the 5th day of the semester, your aid will be negatively affected, as the add will not be recognized.
Other Financial Aid Policies
- Students can receive federal financial aid for developmental work (below 1000 level) up to a maximum of 30 credits.
- Students must declare an eligible major and degree intent at ARCC to receive financial aid.
- Students may receive financial aid from no more than one college during each term or period of enrollment.
- Loan Pro-ration: The loan pro-ration requirement applies to students who plan to complete a degree program or certificate program in an enrollment period that is shorter than an academic year at Anoka-Ramsey Community College.