Return of Title IV Funds
Withdrawal Policies
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Students who wish to completely withdraw from their courses must officially
withdraw at the Admissions Office by completing a Withdrawal Form.
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Students who completely withdraw at or before 60 % of the term will be
processed through a Return of Title IV Funds Calculation.
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This calculation determines the percentage of financial aid the student
has earned based on the number of days the student attended divided by
the number of days in the enrollment period.
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The school will return the lesser amount of the aid to be returned as
compared to the institutional charges multiplied by the percentage of
unearned aid.
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The student will be responsible to pay any unpaid institutional charges
incurred by the institution having to return Title IV funds.
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The student will also be responsible for returning a percentage of unearned
financial aid. This amount will be the difference between the amount of
Title IV aid due from the school and the amount of Title IV aid to be
returned.
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The school must return funds to the following sources, in order, up to
the total net amount from each source: Unsubsidized Federal Stafford Loan,
Subsidized Federal Stafford Loan, PLUS, Pell Grant, Federal ACG, Federal
SEOG, and any other Title IV programs.
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The student or parent (in cases of a PLUS loan) must return funds by
repaying funds to the following sources, in order, up to the total net
amount disbursed from each source: Unsubsidized Federal Stafford Loan,
Subsidized Federal Stafford Loan, PLUS, 50% of Pell, 50% of Federal SEOG,
and 50% of any other federal grant program.
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The student will return loan amounts in accordance with the terms of
the promissory note.
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If the student owes tuition and fees, the student will receive an invoice
from the school.
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The Financial Aid Office will notify the student of the amount of any
Federal Grants that must be repaid by the student.
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