Return of Title IV Aid
Federal law requires an institution to return all unearned Title IV funds to the appropriate Title IV programs when a recipient of Title IV aid withdraws on or before completing 60 percent of the period of enrollment. If a recipient of Title IV funds withdraws during a period of enrollment, the university must calculate the amount of Title IV Aid the recipient did not earn, must return it to the Title IV Programs. This action may require the recipient to repay funds issued directly to them prior to the calculation. The non-payment of Title IV aid will also be reported to U.S. Department of Education for collections and the overpayment of grants reported to the National Student Loan Data System as required by Federal Law.
Federal law requires that refunds on behalf of student financial assistance recipients must be returned in the following order:
- Federal Direct Unsubsidized Stafford Loan
- Federal Direct Subsidized Stafford Loan
- Federal Perkins Loan
- Federal Direct PLUS Loan (Graduate Student)
- Federal Direct PLUS Loan (Parent)
- Federal Pell Grant
- Academic Competitiveness Grant
- National SMART Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Teach Grant
Students must withdraw from the University by submitting a “Withdrawal Form” to the Registrar’s Office or submit a written statement including their name, Social Security number, date of withdrawal and the last date of attendance. Calculation of refunds or tuition adjustments shall be based on the last date of attendance.
Examples of the Return of Title IV Aid calculations are available for review in the Financial Aid Office.