COSTS
Refund Formulas The College refund and repayment policy is applicable if you attend traditional 16-week semesters. There are two refund formulas used at Del Mar College. 1. First Formula The first formula applies if you haven’t received financial aid. Fall and Spring Prior to first class day 100% During the first 15 class days 70% During the 16th - 20th class days 25% After 20th class day 0% Summer Prior to first class day 100% During the first five class days 70% During the sixth and seventh class days 25% After the seventh class day 0% 2. Second Formula The second formula applies if you have received financial aid and the refund is as mandated by the Higher Education Act Reauthorization of 1998. The formula provides a Return of Title IV aid if you received Federal Financial Aid in the form of a Pell Grant, Academic Competitiveness Grant (ACG), Supplemental Educational Opportunity Grant (FSEOG), FELP or Direct Student Loan, or Plus Loan. The amendment states that if you withdraw before completing at least 60% of the semester or earn all non-passing grades, you may have to pay back a portion of your federal funds. The percentage of the refund is equal to the number of days attended divided by the number of days in the semester. The first class day is defined as the “day classes start at Del Mar College and not as the first day a student attends classes.” The first class day is based on the Texas College and University System Common Calendar as determined by the state. Refer to the current semester credit class schedule for applicable first class date. A 100 percent refund is made for courses dropped prior to the first class day. If any portion of the refund amount is left after satisfying the federal Return of Title IV Aid, the remaining balance will be applied to Del Mar College funds, state programs and any other sources of financial assistance. Worksheets used to calculate the Return of Title IV funds are available at Financial Aid Services. For a detailed discussion, see “Financial Aid Services” section of the Catalog.
Distribution of Funds No cash refunds will be made; all refunds will be issued via the DMC Debit Card. With the DMC Debit Card, refunds will be delivered in the manner the student selects at www.DMCDebitCard.com . Payments made by credit cards will be credited to the respective card account.
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