Title IV Return Fund Policy

The Financial Aid Office is required by the U.S. Department of Education to recalculate federal financial aid eligibility (see funds below) when students withdraw, are dismissed, or take a leave of absence prior to completing 60% of a semester. The recalculation is based on the number of days the student was enrolled, as determined by the Dean of Students, divided by the total days in the semester. This percentage will be used to determine the portion of Title IV federal aid that has been "earned" (amount student may use to pay for educational expenses). Fall and spring breaks are not counted in this calculation. The remaining amount must be returned to the federal aid fund in the following order:

  • Unsubsidized Federal Direct Stafford Loan funds
  • Subsidized Federal Direct Stafford Loan funds
  • Federal Perkins Loan funds
  • Federal Direct PLUS funds
  • Federal Pell Grant funds
  • Federal SEOG funds

(federal Work-Study funds earned during enrollment are not reduced)

The Financial Aid Office will notify the affected student of the reduction of the federal aid funds eligibility.