Return of Title IV Funds and Refunds
A Title IV federal aid recipient who withdraws, officially or unofficially, from all classes on or before the 60% point of the academic term (10th week of school) will be subject to repayment based upon the federal “Return of Title IV Funds” calculation. Federal regulations require that a percentage of the funds disbursed be returned. Students “earn” federal aid funds in direct proportion to the length of time they remain enrolled. A student who remains enrolled past the 60% point of the academic term has earned 100% of the Title IV federal aid for the enrollment period. Pell grant awards are processed based on the student's enrollment status after the add/drop date is past for the semester.
The Financial Aid Office will authorize the Business Office to pay credit balances from Federal Grants after the student completes the 10th or 11th week of classes. If your financial aid awards exceed assessed tuition and fees, you will receive a refund check from the Business Office. If there is a balance due, the Business Office will bill you.