Current through Register Vol. 48, No. 34, August 23, 2024
Section 62-495 - Refunds and RepaymentsA. In the event a student who has been awarded a Need-based Grant withdraws, is suspended from the institution, or drops below part-time (six credit hours) or full-time (twelve credit hours) status during any regular semester of the academic year, institutions must reimburse the Need-based Grants Program for the amount of the grant for the semester in question pursuant to refund policies of the institution. Collection is the responsibility of the institution.B. The institution may redistribute such funds to other eligible students in accordance with the guidelines, or if such funds cannot be redistributed within the academic year, the institution shall return the refund amount to the Commission on Higher Education for redistribution to other institutions.C. In the event a student withdraws or drops below part-time or full-time status after the institution's refund period and therefore must pay tuition and fees for part-time or full-time enrollment, the award may be retained by the student pursuant to the refund policies of the institution.D. In the event a student who has been awarded the SC Need-based Grant has been identified as not being a SC resident at any time, the institution must reimburse funds to CHE for the time period the student was no longer a SC resident.Added by State Register Volume 26, Issue No. 2, eff February 22, 2002. Amended by State Register Volume 27, Issue No. 6, Part 2, eff June 27, 2003; State Register Volume 32, Issue No. 6, eff June 27, 2008; State Register Volume 33, Issue no. 6, eff June 26, 2009; State Register Volume 35, Issue No. 6, eff June 24, 2011; State Register Volume 46, Issue No. 05, eff. 5/27/2022.