Occasionally, a student receives an overpayment from the VA while attending SCF. An overpayment may occur for any of the following reasons:
1. Withdrawal from school
2. Withdrawal from one or more classes which changes the training rate
3. Taking courses that are not in selected degree program
4. Taking electives after the elective limit has been reached
This list is not all-inclusive. Other reasons may also trigger an overpayment. If any of the above circumstances occur, the student should notify the Certifying Official or VA Work-Study in the Financial Aid office, SCF Bradenton or Venice campus, immediately, so steps may be taken to avoid overpayments. Under certain circumstances, the VA may allow some of the money to be kept, depending on the mitigating circumstances. For this to happen, the VA form 20-5655 "Financial Status Report" must be completed and returned to the Financial Aid office, SCF Bradenton or Venice.
Remember, if a student experiences any kind of change that may affect either eligibility status or training rate, the Veterans' Benefits Advisor in SCF Venice or Bradenton, should be contacted immediately.
POSSIBLE VA ACTIONS IN THE EVENT OF AN OVERPAYMENT
1. Add interest charges and collection fees to your debt
2. Withhold future benefits and apply them to your debt
3. Collect the debt from your federal income tax refund
4. Turn your debt over to a private collection agency
5. Withhold approval of your VA home loan guarantee
6. File suit in Federal court to collect your debt