Repayment of Massachusetts Funds

Students who have received financial aid from the Commonwealth of Massachusetts are subject to the following repayment/refund policy.

The amount of aid you earned during the term before you withdrew is calculated by applying the federal formula for return of Title IV funds:

• If you also received federal Title IV aid this term, then the percentage of Massachusetts aid earned is the same as the percentage of Title IV aid earned.
• If you did not receive Title IV funds, the College shall use the federal formula for return of Title IV funds to determine the percentage of Massachusetts aid earned.

The following are then applied to your tuition fees:

• The amount of state and federal aid earned (see above).
• All other sources of financial aid.
• All scheduled cash payments.
• The unearned portion of state financial aid.

The result is your remaining unpaid balance of tuition charges and mandatory fees.

Note: the College cannot make any unauthorized post-withdrawal award and/or disbursement of state financial aid to cover this balance.

Your disbursement or repayment owed:

• If the remaining balance is greater than or equal to the unearned state aid, then additional state aid can be “earned” by a student that equals 100% of unearned state aid. 
• If unearned state aid is greater than the unpaid balance, then additional earned state aid has to be equal to the value of the remaining balance.

You will be billed for any amount you owe to Massachusetts financial aid programs and any amount due to the College resulting from the return of Massachusetts funds used to cover College charges.

Cambridge College will distribute the remainder of unearned state aid back to Massachusetts financial aid programs as specified by law.

• Tuition waiver (need based and categorical)
• Massachusetts No Interest Loan
• Tomorrow’s Teachers Scholarship
• Commonwealth Futures Grant
• General Scholarship (Mass Grant)
• Performance Bonus
• Christian Herter Memorial Scholarship
• Gilbert Grant
• Public Service Scholarship
• Cash Grant (Access Grant Scholarship)
• Part Time Grant

Excess Funds

In accordance with federal regulations, excess funds from federal financial aid, over and above current charges, cannot be held without written authorization from the student.