Return of Title IV Funds
When a student receiving Title IV financial aid withdraws from all courses, the aid must be adjusted in accordance with rules established by the U.S. Department of Education. Beginning with the Summer, 2000 semester, new withdraw and add/drop policy. These calculations may result in the student owing a balance to the university.
Students considering withdrawing from classes should contact the Student Accounts Office to determine if a refund of tuition charges applies to them.
When a student withdraws, University policies and federal requirements may result in a reduction of charges and financial aid. If a student withdraws on or before the 60% point of the enrollment period, the federal calculation is performed. This calculation follows a specific percentage of adjustment based on the date of withdrawal and may require a return of financial aid to federal, state and institutional aid programs.
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 enrollment period will be the withdrawal date for the purpose of calculating the return of funds.
Order of Return of Funds
Funds are returned to the appropriate aid accounts as the result of withdrawal in the following order prescribed by law and regulations:
- Unsubsidized Federal Stafford Loan/Direct Loan
- Subsidized Federal Stafford/Direct Loan
- Federal Perkins Loan
- Federal PLUS Loan
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants (SEOG)
- Other Title IV Aid Programs
- Other federal, state, private, or institutional aid
- Student