Policy on Allocation of Refunds and Return of Student Financial Aid Funds when Students Withdraw from School
Students that receive Federal Title IV Financial Aid assistance and withdraw from school during a payment period or period of enrollment in which they began attendance must return any unearned funds to the Student Financial Aid Programs (SFA). The school must calculate the amount of SFA Program assistance the student did not earn and those funds must be returned. Up through the 60% point in each payment period or period of enrollment, a pro rata schedule is used to determine how much SFA Program funds that student has earned at the time of withdrawal. The amount of refundable (or balance outstanding) of institutional charges will be set by the University policy. If there is a student account balance resulting from these adjustments, the student is responsible for payment.
- Distribution Among the Title IV Programs
- Federal Family Education Loan (FFEL) programs (the Part B loans) (Subsidized and Unsubsidized Stafford Loans, PLUS-Parent Loan)
- Federal Perkins
- Federal Pell
- Federal SEOG
The University will allocate the Title IV portion of the refund to the various Title IV program(s) from which the student received aid. The allocation will take place in the following order:
- Distribution of Repayments of Cash Disbursements
- If a student officially or unofficially withdraws from or is dismissed by the University on or after the first day of classes of a semester, and the student received a cash disbursement for non‑instructional costs under any Title IV program (except Federal Work‑Study Program) for that semester, the University will determine whether a portion of that cash disbursement will have to be repaid.
- In determining whether a student will have to repay a cash disbursement, the University will subtract from the cash disbursement received by the student the educational costs incurred by him/her for non‑instructional charges for that term up to the date of withdrawal or expulsion.
- If the expected repayment will total less than $100, no repayment will be required.
- The University will apply these policies in a consistent manner to all students receiving Title IV aid.
- The University will not allocate any part of the refund to a Title IV program if the student did not receive aid under the program.
- The amount allocated to a program may not exceed the amount the student received from that program.