Terms and Conditions of Financial Aid

Each year, financial aid students must view and accept a set of Terms and Condition before they can receive any aid. Students may view, read, and accept the Terms and Conditions through the Financial Aid Dashboard through MyTCC account. For student convenience here is a copy of those Terms and Conditions.

 

Quick Links:

Part I: General Information on Enrollment, Packaging, and Disbursement of Aid

Part II: Information Regarding Specific Types of Aid

Part III: Summary of Satisfactory Academic Progress Policy

 


General Information on Enrollment, Packaging, and Disbursement of Aid

  • Award Package:All Financial aid awards are estimated and subject to change based on enrollment status made by you or Tulsa Community College faculty or staff member.
  • Award Total and Outside Aid:Your financial aid award may not exceed your cost of attendance at TCC. If you have or will receive a scholarship, loan, employment assistance or other forms of financial assistance from a source outside of the college you are required to report this to the Financial Aid Office. Failure to report all received aid may result in you owing TCC money and may prevent future enrollment.
  • Costs:All eligible fees and financial obligations due to Tulsa Community College will be deducted from your financial aid award; however, check the tuition and fees due against your refund check to ensure that all obligations have been fulfilled. If you enroll in additional courses after your financial aid has been disbursed for the term you will need secure payment for these new charges. 
  • Disbursement and Refund:Financial aid awarded to you, with the exception of work study funds, will be credited to your college account. If your funds exceed college charges, the difference will be refunded to you. The college processes refunds to students weekly, and they will available to students via the TCC Card.
  • Multiple Schools in a Term:You may not receive Federal/State aid at multiple institutions simultaneously. If you are enrolled in another college/university at the same time you are attending TCC you must cancel aid at all but one school. Students who receive aid at two or more institutions at the same time can complicate their future eligibility. 
  • Enrollment:Students must be enrolled at TCC to receive aid. At the start of each term, TCC “freezes” students’ enrollment and pays grant aid off of the enrollment load at the time the hours were frozen. Subsequent changes to the enrollment—withdraws or additions to the student’s schedule—may not be reflected in the total grant aid paid out to student. 

    • Students are paid on attending hours. If you have classes that start later in the semester you may not be paid all of your aid until all of your classes start. 

    • Each specific fund may require a certain enrollment load before any funds can be disbursed. For instance, Stafford Loans require minimum six hour enrollment.

  • Withdrawing and Return of Aid: Students who receive financial aid may have to return funds to the College or to the Department of Education if they withdraw from any or all courses. Additionally, failure to attend a class may result in return of aid. Before withdrawing students should visit a financial aid office to understand the impact of withdrawing on current and future eligibility.

 


Information Regarding Specific Types of Aid

  • Subsidized Loan:You have been offered a Subsidized Stafford Loan. A student loan is aid you must repay once you leave school. A subsidized loan has a lower interest rate than Unsubsidized loan, and you will not be charged interest while you are attending school. You must accept any Federal Direct Stafford Loan awards you wish to receive. In order to be eligible for loans, students must be enrolled in at least six hours per term. You must also complete Entrance Counseling and a Master Promissory Note to receive loans. You may submit a Loan Change Form to any Financial Aid office to cancel any loans you have accepted. Recipients must maintain Satisfactory Academic Progress to receive the award.
  • Unsubsidized Loan:You have been offered an Unsubsidized Stafford Loan. A student loan is aid you must repay once you leave school. The unsubsidized loan has a higher interest rate than subsidized loans, and you will be responsible for paying interest that accrues against the amount you borrowed while in school. You must accept any Federal Direct Stafford Loan awards you wish to receive. In order to be eligible for loans, students must be enrolled in at least six hours per term. You must also complete Entrance Counseling and a Master Promissory Note to receive loans. You may submit a Loan Change Form to any Financial Aid office to cancel any loans you have accepted. Recipients must maintain Satisfactory Academic Progress to receive the award.
  • Federal Work Study:You have been offered Federal Work Study. Federal Work Study is an employment program for TCC students. You must accept this award if you are interested in work study. After accepting the award you can peruse the employment opportunities on the TCC website. In order to use the award you must be hired by a supervisor. Federal Work Study income will not affect your EFC in the same manner as other income, and therefore will not necessarily decrease the amount of aid for which you are eligible as other income might. Recipients must maintain Satisfactory Academic Progress to receive the award.
  • Pell Grant:You have been awarded a Pell Grant. Pell Grants are pro-rated based on enrollment load. The Pell Grant is automatically accepted for you; however, the funds will not be disbursed until you have read and accepted these terms and conditions. Recipients must maintain Satisfactory Academic Progress to receive the award. If you have classes that start later in the term part of your award may be delayed in disbursement until the late class starts.
  • FSEOG: You have been awarded a Federal Student Equalization Opportunity Grant (FSEOG.) The grant will be automatically accepted for you; however, the funds will not be disbursed until you have read and accepted these terms and conditions. Recipients must maintain Satisfactory Academic Progress to receive the award.

 


Summary of Satisfactory Academic Progress Policy

Satisfactory Academic Progress:Students must maintain Satisfactory Academic Progress (SAP) to receive aid. Excessive failures and withdraws, and attempting too many hours will result in aid being suspended. Students are expected to be aware of their current SAP status, and also be aware of how their academic performance will affect their future aid eligibility. The minimum standards for meeting satisfactory academic progress are: 

  • Students must maintain 2.00 GPA for 31 or more hours; a 1.7 GPA is permissible for those students who have fewer than 31 hours.
  • Students must have a minimum 67% completion rate. Completion rate is the number of passed hours divided by attempted hours.
  • Students cannot exceed more than 95 attempted hours and still qualify for financial aid without being granted an appeal. 

Students who fail to meet these standards will be suspended from receiving aid. Students may re-establish eligibility by reaching minimum standards through coursework paid without financial aid or by successfully appealing their status through a special committee.

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