All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.
Whoever swipes the card to show his presence but deliberately does not attend is cheating and taking people's money without right. The Prophet said: "Whoever cheats is not one of us." [Muslim] So, if the incentive allowance is only given to those who attend the totality of the lessons without any absence, then it is not permissible to take this allowance or benefit from it unless one fulfils this condition. Therefore, whoever cheats and records his presence while in reality he is not present, does not deserve this allowance and it is not permissible for him to benefit from it, rather he is obliged to give it back to the college.
Allaah Knows best.