Appendix C - Financial Aid Policies

Repayments-Title IV Federal Policy

Students receiving any Federal Title IV aid, such as Federal Pell Grants, Federal Stafford Loans, and Federal PLUS loans are subject to the regulations of that program as written by the Federal Government under the Higher Education Act of 1965 (as amended).

Students who withdraw from class, are terminated by the institution, or otherwise do not complete their contracted class prior to completing more than 60% of the payment period will have their eligibility for aid recalculated based on the percent of the term that has elapsed and that the student has completed. For example, when a student withdraws and has only completed 30% of their first term of training, it will be determined they have only “earned” 30% of the Federal Title IV aid that has been disbursed or could have been disbursed for that term. The other 70% of the funds must be returned by the student/school, as those funds are considered “unearned” funds.

When the amount of aid that is considered “unearned” and must be returned by AVTEC is more than the amount that the student has on their account at AVTEC, the student must repay AVTEC. The student will not be able to attend AVTEC again until that debt is repaid. The funds returned will be returned to the appropriate Title IV programs in this order: Unsubsidized Federal Stafford Loans, Subsidized Federal Stafford Loans, Federal PLUS Loans, and Federal Pell Grants.

Once the school returns the portion of aid they are required to return and there is still an amount considered “unearned” and due, the student is responsible for repaying that debt to the US Department of Education. This information will be referred to the US Department of Education by AVTEC. Failure to repay these funds may result in the inability to receive Federal Title IV aid, tax refund garnishment, and other consequences.

When it is determined that a withdrawing student has more aid earned than has actually been disbursed as of the withdrawal date, AVTEC may apply “post-withdrawal disbursements” to any current year charge owed AVTEC without the specific permission of the student, providing the student would have been otherwise eligible for the aid as of the withdrawal date. Should any of the “post-withdrawal disbursement” aid remain after paying amounts owed to AVTEC, withdrawing students (or their respective PLUS borrower) will be offered, in writing, post-withdrawal disbursements of the funds within 30 days of the withdrawal/termination date. The withdrawing student must accept the balance of the “post-withdrawal disbursement” within 14 days, and AVTEC must provide the funds to the withdrawn student within 90 days of the withdrawal date. If the student (or parent for PLUS loans) does not respond within the 14-day window, AVTEC is not required to make the disbursement, but may do so at its discretion.

The fees, procedures and policies listed above supersede those previously published and are subject to change.

Conviction for Possession or Sale of Illegal Drugs

student is ineligible to receive title IV, HEA program funds, if the student has been convicted of an offense under any Federal or State law involving the possession or sale of illegal drugs for conduct that occurred during a period of enrollment for which the student was receiving title IV, HEA program funds. However, the student may regain eligibility before that time period expires under certain conditions.

conviction means only a conviction that is on a student's record. A conviction that was reversed, set aside, or removed from the student's record is not relevant, nor is a determination or adjudication arising out of a juvenile proceeding.

An illegal drug is a controlled substance as defined by section 102(6) of the Controlled Substances Act21 U.S.C. 801(6), and does not include alcohol or tobacco.

If a student successfully completes certain drug rehabilitation programs after the student's most recent drug conviction, the  student may regain eligibility on the date the student successfully completes the program.

Please contact Financial Aid for more information. 1-907-224-6156

AVTEC is required to have a fair and equitable refund policy. Using the appropriate refund policy related to the student's financing and program length, a refund is calculated when a student withdraws, drops out, is terminated or fails to complete the student's contracted training program on or after the first day of training. The institution refunds 100 percent of the tuition and fees collected in advance for classes it cancels within 30 days of the planned start date.

Refund Calculations

Refund calculations are made from the last date of recorded attendance. Refunds are processed no later than 30 days after the student's official withdrawal date. If the student does not officially withdraw, refunds will be made no later than 30 days from the date the school terminates the student or determines the student has withdrawn.

At times students present with multiple sources of funding. When leaving AVTEC and requesting a refund, any student funds remaining on account for repayment are prioritized depending on the regulations that apply to the source of those funds. The following is the priority of the distribution of refunds, as mandated by Federal and State regulations:

  1. Unsubsidized Federal Direct Loans
  2. Subsidized Federal Direct Loans
  3. Federal Pell Grants
  4. Alaska Supplemental Education Loan
  5. Other federal, state, private, or institutional sources of aid
  6. The student and/or student’s family.

Tuition Refund

After 50 percent of the allotted program training period has elapsed, no refunds will be granted. Prior to 50 percent of lapsed training time, refunds will be made as follows:

  • Before the 4th day of training, 100 percent tuition refund.
  • The 4th day up to ten percent of the allotted program training for that period, 90 percent tuition refund.
  • After ten percent but not more than 20 percent of the allotted program training, 80 percent tuition refund.
  • After 20 percent but not more than 25 percent of the allotted program training, 55 percent tuition refund.
  • After 25 percent but not more than 50 percent of the allotted program training, 30 percent tuition refund

Room and Board Refund

Room and board/rent is refunded, consistent with the agreement signed for housing. Any funds on account in excess of the current charges will be refunded, provided the room is cleaned and free of damage other than reasonable wear and tear.

Veteran’s Refund

Refunds to eligible veterans will be made on a prorated basis.

Returned Checks

A returned check fee of $25.00 is charged to the student's account on whose behalf the check was written. The fee is assessed for any checks returned to AVTEC regardless of the reason.