N.J. Admin. Code § 9A:9-2.12

Current through Register Vol. 56, No. 11, June 3, 2024

Section 9A:9-2.12 - Award adjustments, refunds and collections

(a) If a refund is due a student under the institution's refund policy and the student received State financial assistance under any State student financial assistance program, the institution shall multiply the institutional refund by the following fraction to determine the amount to be refunded to the State: amount of State financial assistance awarded for the payment period divided by the total amount of financial aid (minus Federal Work-Study earnings) awarded for the period.

(b) "Payment period" as used in (a) above means the time between the first day of classes for an academic term and the end of that term according to the institutional calendar.

(c) The formula in (a) above shall be applied if a student reduces his or her academic course load to less than full-time prior to the end of the institutional refund period. However, if the student reduces his or her academic course load to less than full-time after the end of the institutional refund period, a refund to the State is not required.

(d) If a combination of State student funds has been packaged for the student and a refund is due the State, a prorated amount is applied to each of the State programs in the student's State financial assistance package.

(e) If a cash disbursement has been made by an institution for non-institutional costs from any State financial assistance program, and it is determined by application of the institution's refund policy and the formula in (a) above that a refund should be paid to the State, the institution shall endeavor to collect the overpayment from the student and return it to the State. If this effort is unsuccessful, the institution shall notify the Higher Education Student Assistance Authority of the amount owed for each State financial assistance program. Non-institutional costs may include, but are not limited to, room and board, books and supplies, transportation, and miscellaneous expenses.

(f) If a student utilizes any portion of an award, it will be treated the same as a full semester payment in calculating the number of semesters of eligibility. Thus, the institution shall afford the student the opportunity to decline and repay the State award for that payment period.

N.J. Admin. Code § 9A:9-2.12

Amended by R.1980 d.461, effective 10/16/1980.
See: 12 New Jersey Register 117(c), 12 New Jersey Register 661(b).
Section was "Student withdrawal or dismissal during period of an award".
Amended by R.1988 d.128, effective 3/21/1988.
See: 20 New Jersey Register 33(a), 20 New Jersey Register 656(a).
(a)1 is now (b); old (b) repealed.
Amended by R.1992 d.486, effective 12/7/1992.
See: 24 New Jersey Register 2510(a), 24 New Jersey Register 4373(a).
Revised (a) and (c)-(e).
Amended by R.2002 d.290, effective 9/3/2002.
See: 34 New Jersey Register 1392(a), 34 New Jersey Register 3079(c).