Policy for Reimbursement of Title IV Accounts for Students who Withdraw:

When a student receiving Title IV student financial aid withdraws from all courses, the aid must be adjusted in accordance with rules established by the U.S. Department of Education. These calculations may result in the student owing a University balance.

Return of Title IV Funds/Institutional Refunds:

When a student withdraws, University policies and federal requirements may result in charges and financial aid being reduced. If a student withdraws on or before the 60% point of the semester, the federal refund calculation must be performed. These student refund calculations follow a specific percentage of adjustment based on the date of withdrawal and may require a return of financial aid to the financial aid accounts by the school and/or the student. Refund calculations take into account all federal financial aid received. The calculation is generally based upon the percentage of the enrollment period which the student has completed.

The day the student officially withdraws is determined to be the withdrawal date. If the student ceases attendance without providing official notification of withdrawal to the institution, the mid-point of the payment period will be the withdrawal date for the purpose of returning Title IV funds.

Return of Funds:

Funds returned as a result of a refund or overpayment are returned to the Title IV accounts in an order prescribed by law and regulations. Please refer below for information for that order.

Order of Return of Title IV Funds Prescribed by Higher Education Amendments of 1998

Total Refund:

1. Unsubsidized Federal Stafford Loans
2. Subsidized Federal Stafford Loans
3. Federal Perkins Loans
4. Federal PLUS Loans
5. Federal Pell Grants
6. Federal Supplemental Educational Opportunity Grants (FSEOG)
7. Other Title IV Aid Programs
8. Other federal, state, private or institutional aid
9. The Student

If you have any questions regarding the Refund Calculation for Withdrawals, please contact the Financial Aid Office for more information.