RETURN OF TITLE IV STUDENT AID REQUIREMENTS FOR STUDENTS WHO WITHDRAW FROM THE UNIVERSITY

The basic requirements of this regulation provide a statutory schedle that must be used to determine the amount of Title IV funds a student as earned as of the date he or she ceased attendance. The amount of the Title IV program assistance earned is based on the amount of time the student spent in academic attendance; it has no relationship to the student's institutional charges.

Up through the 60 percent point in each payment period of enrollment, a pro rated schedule is used to determine the amount of Title IV funds the student has earned at the time of the withdrawal. After the 60 percent point in the payment period or period of enrollment, a student has earned 100 percent of the Title IV funds (Federal Pell Grant, Federal Stafford Subsidized and Unsubsidized Loans, Federal PLUS loan, and Federal Nursing Loan).

In accordance with federal regulations, students who withdraw on or before the 60% of the award period will be required to repay the unearned portion to Federal Title IV student aid program.

Students who owe the University or the federal government as a result of the return of unearned aid must pay this debt to prevent financial holds on their account or the loss of federal aid.