Return of Title IV Funds
Federal aid recipients who withdraw or are dropped from all classes by the instructor are subject to new regulations regarding the return of Title IV funds. If you withdraw or are dropped from all your classes prior to completing more than 60% of the enrollment period, you are subject to these rules. Based on the date of the complete withdrawal or drop, the Financial Aid Office will determine the amount, if any, of "unearned" federal financial aid you have received. The calculation will begin by determining the percentage of the enrollment period completed by you as follows:
Number of days completed / Total number of days in the semester
The result will equal the percentage of the enrollment period completed. The amount of federal financial aid that was paid or could have been paid to you will be based on this percentage. If you received more financial aid than the amount earned, you will be billed for the overpayment.
If you receive financial aid, be sure to:
- avoid total withdrawal from all classes;
- successfully complete at least one class during the semester; and
- repay any "unearned" funds as soon as possible to regain eligibility for financial aid.
If you receive financial aid and need to withdraw from all your classes, contact the Admissions and Records Office and the Financial Aid Office as soon as possible. You are strongly encouraged to discuss alternatives to withdrawing from a class or classes with your instructor(s) or a counselor before making a final decision.
Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded.