Financial Aid Office
PICKENS TECHNICAL COLLEGE
500 Airport Boulevard
Aurora, CO 80011
303-344-4910
HOW DOES WITHDRAWING FROM YOUR PROGRAM
AFFECT YOUR FINANCIAL AID?
What happens if you withdraw from Pickens Technical College?
If you receive financial aid and withdraw from all of your classes before the 60% point of the semester, we must
recalculate your financial aid eligibility according to a federally prescribed formula. Since funds are awarded based on you
attending the entire term, we must recalculate your financial aid award based on the actual number of days you attended.
The calculation will determine if you received funds for which you are NOT eligible or if you are eligible for a post
withdrawal disbursement.
The Financial Aid office encourages students to consult an advisor before they actually withdraw. The advisor will explain
the Return to Title IV Policy and how it will affect the student.
What is a withdrawal?
Pickens Technical College’s official withdrawal and drop procedures can be found in the school’s catalogue on the
school’s website: www.pickenstech.org. When a student registers for a class or program, space is reserved under the
assumption the student will complete the course and a student record is started in the registration office.
To withdraw from a class or an entire program, the student must go to the registration office to have an official withdrawal
form completed. Until a student officially completes the withdrawal form the enrollment remains active with absences and
grades recorded.
A student who stops attending class during the semester without completing the official withdrawal form is considered to
have unofficially withdrawn according to the Title IV federal regulation. Pickens Technical College is required to return
unearned financial aid to the federal government for an unofficial withdrawal using the last date the student attended class
as the withdrawal date.
What happens next?
The student’s financial aid will be calculated based on the amount of federal funds earned as determined by the number
of days the student attended. Students who drop after the 60% point of the term are considered to have earned 100% of
the financial aid funds that have been disbursed for the semester. Students who withdraw from their program prior to the
60% point of the term will have unearned financial aid which must be calculated and returned. Any unearned portion of
financial aid that was disbursed to the student must be repaid to Pickens Technical College. The unearned amount may
include institutional charges and monies advanced for books or supplies as well as funds disbursed to the student.
The table below provides important dates for each semester for the 2013 – 2014 school year:
Semester
Fall, 2013
Spring, 2014
Summer, 2014
Start date
August 6, 2013
January 6, 2014
May 27, 2014
ACADEMIC SCHOOL YEAR
2013 - 2014
Drop/Add date
End date
August 23, 2013
December 19, 2013
January 24, 2014
May 21, 2014
June 6, 2014
July 18, 2014
60% point of term
October 22, 2013
March 20, 2014
June 27, 2014
The Return of Title IV Policy will affect you if you are received the following Federal financial aid programs:


Federal Pell Grant
Federal Supplemental Education Opportunity Grant (FSEOG)
What is the recalculation process?
The first step is to determine the date you began the withdrawal process. Based on available information, we use the
earliest date, which is established as described above.
Based on the date you began the withdrawal process or your last date of attendance, we determine the percentage of the
semester you attended. This percentage is determined by the last date of your attendance or the date you complete the
official withdraw and the number of days in the semester, which is determined by federal guidelines. This percentage is
then applied to the aid disbursed or that could have been disbursed to determine the amount you earned. If the amount
disbursed to you is less than the amount you earned, we will notify you of your recalculated financial aid and give you the
opportunity to receive any additional aid. If the amount disbursed to you is greater than the amount you earned, then
unearned funds have to be returned to Pickens Technical College.
What is the repayment process?
Students who owe a repayment are encouraged to immediately pay the amount in full to the cashier's office in the
registration office. The cashier's office will credit the funds to the appropriate account. However, if the student is unable to
repay the amount in full, they may sign a repayment contract. The contract will allow the student to repay in monthly
installments.
If you have questions or need clarification, please feel free to contact our financial aid office for assistance.