REFUND & ‘RETURN OF TITLE IV FUNDS’ POLICY
Any student who receives Federal Financial Aid (Title IV aid) and withdraws from all classes may be required to return Federal Financial Aid. Students who completed greater than 60% of the term are considered to have fully earned their financial aid. However, students who did not attend classes until the 60% point of the term, have unearned financial aid that will need to be returned to the Department of Education. The percent of the semester completed and correspondingly the percentage of aid earned, is calculated by taking the calendar days attended by the student, divided by the total number of calendar days in the term. For students who have unearned financial aid, that financial aid will be returned in the following order:
- Unsubsidized Direct Loan
- Subsidized Direct Loan
- Federal PLUS Loans
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants (FSEOG)
- Iraq and Afghanistan Service Grants