Terms & Conditions
Students receiving financial aid at Richard Bland College are responsible for understanding and adhering to the following Terms and Conditions.
- Students are responsible for filing the Free Application for Financial Assistance (FAFSA) each year by March 1 for priority consideration.
- If a student’s FAFSA is selected for verification, it will not be processed until verification is complete. The Office Financial Aid notifies the student of what documents to submit.
- Initial notifications of financial aid are tentative.
- Aid offered is contingent upon the student’s eligibility and the availability of funds from federal, state, and institutional sources. Offers may be reduced or withdrawn if such funds are not actually received.
- Financial aid awards are made for one academic year and are awarded based upon full-time enrollment in a degree program. If a student enrolls less than full-time, it is the student’s responsibility to notify the Office of Financial Aid. A change in enrollment may impact aid eligibility.
- Students are required to notify the Office of Financial Aid of outside scholarships or other outside educational assistance. Adjustments to a financial aid package may occur. Federal financial aid regulations do not allow the total amount of all aid received, regardless of the source of funding, to exceed the Cost of Attendance as established by the Office of Financial Aid.
- One-half of each award (with the exception of Work Study) will be credited to the student’s account each semester. Any credit balance will be refunded by check.
- Students whose financial aid exceeds billable charges may select to use their remaining aid in the College bookstore starting the week prior to the start of the semester and ending on the last day of the add/drop period. Students can authorize use of Title IV funds for book charges via their myRBC account.
- Students may only receive financial aid for one repeat of a previously passed course.
- Students should consult the Office of Financial Aid before dropping a class to discuss the impact of an enrollment change affects future aid eligibility and Satisfactory Academic Progress.
- Students who withdraw from all courses or make all failing (F) grades for a term are subject to federal regulations regarding the Return of Title IV Funds.
- Students must maintain Satisfactory Academic Progress (SAP) to be eligible for consideration for financial aid.
- If a financial aid package includes funding from an Endowment Scholarship, the student may be asked to send a thank you note to the scholarship donor.
- Students who borrow a Stafford Loan must be enrolled at least half-time (6 credit hours), making satisfactory academic progress (SAP), and have completed Entrance Counseling and a Master Promissory Note.
- Students cannot receive federal and state financial aid from any other college or university during the same period of enrollment.
- The student is responsible for repayment of any federal, state, or college aid received as a result of unreported or misreported information discovered through verification, third-party notices, account reviews, and/or Quality Assurance findings.
- It is the student’s responsibility to ensure that tuition is paid in full by the stated deadline either by financial aid, payment plan, cash or other resources they plan to use.