Return of Title IV Funds

The amount of federal financial aid you qualify for is based on the percentage of the term that you have completed. If you decide to withdraw completely from your courses and more than 60% of the term has elapsed, you may have to return a portion of your unearned federal financial aid and may also owe tuition, fees and a repayment of federal funds.

To completely withdraw from your courses, you must officially withdraw at the Enrollment Services Office at Central Campus or West Campus. During the add/drop period, you can drop your courses online via WebAdvisor, by fax or in person at the above-mentioned offices. After the add/drop period ends, you can officially withdraw by fax or in person at the above-mentioned offices.

A Return of Title IV Funds calculation is performed when you withdraw completely from all classes during a term. How much financial aid you’ve earned is based on the number of calendar days you attended divided by the number of days in the enrollment period. For example, if you completed 30% of the payment period, you earned 30% of the federal funds you were originally scheduled to receive.

If you officially withdraw, the Return of Title IV Funds calculation uses the date of withdrawal to determine how much of the term you successfully completed. If you do NOT officially withdraw (for instance, if you do not earn passing grades or have a combination of FS, FN and/or W grades), you are considered an unofficial withdrawal, and your Return of Title IV Funds calculation will use your last day of attendance as the end of 50% of the enrollment period.

According to the Return of Title IV Funds policy, no later than 45 days after the date you withdraw, we must return funds up to the total net amount from each source in the following order: Unsubsidized Federal Stafford Loan, Subsidized Federal Stafford Loan, PLUS Loan, Pell Grant, Iraq and Afghanistan Service Grant (IASG), Federal SEOG and any other Title IV programs.

You (or in the case of a PLUS loan, your parent) must return funds to the following sources up to the total net amount from each source in the following order: Unsubsidized Federal Stafford Loan, Subsidized Federal Stafford Loan, PLUS Loan, 50% of Pell Grant, 50% of Federal SEOG and 50% of any other federal grant program. You are also responsible for paying any unpaid charges we incur due to having to return Title IV funds.

How much we return is calculated as the lesser amount of the aid to be returned as compared to our charges multiplied by the percentage of unearned aid. You are responsible for returning a portion of unearned financial aid. This amount is calculated as the difference between the amount of Title IV aid due from us and the amount due from you. Any federal grant funds you are required to repay will be returned to the Department of Education by us on your behalf. You will return any unearned loan amounts in accordance with the terms of your promissory note.

If you did not receive all of the funds earned, you may be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds, we must obtain your permission before the funds can be disbursed. You may choose to decline all or part of the loan funds so that you do not incur additional debt. If you wish to have the loan funds credited to your account, you will need to make the request in writing to the Financial Aid Office within 14 calendar days of receiving your notification letter.

Some Title IV funds that you may have been scheduled to receive cannot be disbursed to you once you have completely withdrawn because of other eligibility requirements. For example, if you are a first-time, first-year undergraduate student who has not completed the first 30 days of your program before you withdraw, you will not receive any Federal Stafford Loan funds that you would have received if you had remained enrolled past the 30th day.

Once we have determined that you have completely withdrawn from the College, a Return of Title IV funds calculation will be performed within 45 days. We will notify you in writing of your revised eligibility after the Return of Title IV funds calculation is completed. If you owe unpaid tuition and fees, you will receive an updated invoice from us.

If you withdraw within the first three weeks of the semester you may be eligible for a partial or full refund of tuition (but not fees, which are non-refundable once the semester starts). After the third week of the semester, there will be no tuition refund. For complete tuition refund information, see our tuition refund policy.

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