Financial Aid Terms and Conditions

1. Offers and Tuition Deferred

FINANCIAL AID OFFERS 
Financial aid files are reviewed on a first-come-first-served basis to determine student eligibility. Students are notified of their eligibility with an offer notice sent to the student’s preferred email account. Financial aid offers are tentative based on students’ enrollment status, verification of individual eligibility and the availability of the federal, state, institutional and agency’s allocations.  Students are required to enroll in courses that apply toward their declared financial aid (Title IV eligible programs). If students receive funding at two schools concurrently, they may be subject to overpayment and/or their aid at RTC may be reduced or canceled.

TUITION DEFERRED  
A Tuition Deferred Service Indicator is a temporary courtesy hold placed for students, with pending or active grants and loans, to protect courses from being dropped for non-payment until eligible is determined. This service indicator does not guarantee funding. Students are responsible to pay balance owed if their aid is insufficient/canceled. Failure to do so may result in classes being dropped for non-payment.

2. FA Disbursement and Refunds

Financial aid funding is scheduled to be disbursed regularly, as early as the first week of each quarter. To ensure accurate & timely refund disbursements, it is highly recommended that students finalize their enrollment at least a week prior to quarter start. Less than full-time enrolment, change in enrollment level, not meeting Satisfactory Academic Progress (SAP), change in program/enrollment level and other factors may delay disbursements or eligibility.  
 
TUITION PAYMENTS 
RTC is authorized to apply funding to students' accounts to pay tuition/fees. 
 
STUDENT FINANCIAL AID ELECTRONIC REFUND(BankMobile):  
Only refundable aid is refunded to students directly. RTC is partnered with BankMobile to disburse financial aid refunds electronically. RTC no longer issues paper-checks to students as refunds. Students must set up their BankMobile account indicating their refund preference method. Failure to set up a BankMobile account in a timely manner may cause a delay in financial aid refund. Renton Technical College delivers financial aid refunds with BankMobile Disbursements, a technology solution, powered by BMTX, Inc. View our third-party servicer contract for refund management.

3. Financial Aid Adjustments, Repayment and Overpayments

FINANCIAL AID AJUSTUSTMENT 
Typically, financial aid grants are offered based on full-time (12 credits or more) enrollment and prorated down if/when enrollment level is less than full-time. Funding is subject to adjustment during the census (10th calendar day of each quarter) if enrollment status/program changes. If enrollment changes result in increasing aid eligibility, disbursement of additional aid will be scheduled.  
 
FINANCIAL AID OVERPAYMENT AND DEBT  
When students’ enrollment and/or program changes resulted in decreasing aid eligibility, students may have debt that must be repaid to the school or agencies, as applicable. If students receive funding at two schools concurrently, they may be subject to overpayment and/or their aid at RTC may be reduced or cancelled. Unresolved/unpaid debt may impact students from enrolling in future quarters and obtaining record/credentials from RTC. 
 
RETURN TO TITLE IV (R2T4)  
Federal student aid funds are offered to a student under the assumption that the student will attend school for the entire period for which you received funding. When a student withdraws from all courses, for any reason, they may no longer be eligible to receive the full amount of federal student aid originally received. Return of Title IV (R2T4) funds refers to a mandatory calculation when a federal student aid recipient officially or unofficially withdraws from RTC during a quarter of enrollment.  

• Last day of Attendance (LDA): an official and unofficial withdrawal is defined by Enrollment Services withdrawal procedures and students’ courses attendance/activity date reported by instructors. The Financial Aid Office is required to determine the amount of aid earned for the quarter using the LDA reported in the system for all financial aid eligible classes.  
• Calculating the Earned & Return of Unearned Funds: the amount of federal grants/loans earned is calculated by dividing the number of days attended by the number of days in the quarter. The portion of aid considered unearned is returned to the Department of Education.  
• Repayment and Debt: if all courses are dropped/withdrawn before completing more than 60% of the quarter, students may owe the unearned portion of federal grants/loans. The Financial Aid Office will notify students of the amount of aid earned for the quarter and update student accounts to reflect the return of the unearned portion to the appropriate federal aid program. This action may result in outstanding charges owed to the college based on the school refund policy. Students should monitor their ctcLink student account to resolve any owed balance. Unresolved repayment/overpayment to institution and/or collection agencies may prevent future financial aid eligibility. 
• Post-Withdrawal Disbursements: if the student did not receive all of the funds that were earned prior to withdrawing, a post-withdrawal disbursement may be due. If the post-withdrawal disbursement includes loan funds, the student must give permission before the funds can be disbursed by responding to the financial aid office request. 
   

Please visit the Academic Calendar page for Registration Deadlines.