Return to Title IV Funds/Federal Refund Policy

This policy applies to students who withdraw or are expelled. Aid for these students is determined according to the following policy: The term “Title IV Funds” refers to the Federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs:

  1. Unsubsidized FFEL loans (Stafford)
  2. Subsidized FFEL loans (Stafford)
  3. Federal Perkins loans
  4. FFEL PLUS loans
  5. Federal Pell Grants
  6. SMART and ACG
  7. Federal SEOG (Supplemental Educational Opportunity Grant)

A student’s withdrawal date is:

  1. The date the student began the institution’s withdrawal process or officially notified the institution of intent to withdraw; or
  2. The midpoint of the period for a student who leaves without notifying the institution; or
  3. The student’s last date of attendance at a documented academically-related activity.

An adjustment on all charges including tuition, room and board, and fees will be prorated based on the university policy. Title IV aid and all other aid is earned in a prorated manner on a per diem basis up to the 60% point in the term. Title IV aid and all other aid is viewed as 100% earned once you have completed more than 60% of the term. A copy of the worksheet used for this calculation can be requested from the Financial Aid Office. In accordance with federal regulations, when financial aid is involved, funds are allocated to the aid programs in the following order:

  1. Unsubsidized FFEL loans
  2. Subsidized FFEL loans
  3. Federal Perkins loans
  4. FFEL PLUS loans
  5. Federal Pell Grants
  6. SMART and ACG
  7. Federal SEOG
  8. Other Title IV assistance
  9. Other Federal sources of aid
  10. Other state, private and institutional aid; and
  11. The student, if applicable.

The student is responsible for the return of refunded Title IV funds for which the student was determined to be ineligible (via the Return of Title IV Funds calculation) to the Title IV programs within 45 days after notice from the university of an overpayment of a grant. Failure to return funds as required will result in the loss of eligibility for federal financial aid.