Return of Title IV Funds

When a student who receives Title IV financial aid (Pell Grant, FSEOG, ACG or Smart Grants, Perkins Loan, Direct Subsidized and Unsubsidized Loans and PLUS loans) withdraws, either officially or unofficially, before completing the period of enrollment for which they were charged, a return of Title IV funds may be required.

• First, the net amount of Title IV aid that was and could have been disbursed is calculated. 
• Second, a calculation must be performed to determine the percentage of Title IV aid earned. The number of days attended by the student is divided by the number of days in the payment period. This equals the percentage of Title IV aid earned. If the percentage of Title IV aid earned is greater than 60 percent, the student is eligible for 100 percent of the aid.
• Third, if the amount of aid disbursed equals the amount of aid earned, no further calculation is required.
• Fourth, if the amount of aid disbursed is greater than the amount of aid earned, the difference must be returned to the appropriate Title IV agencies.
• The College will return Title IV monies as follows: Direct Unsubsidized Loan, Direct Subsidized Loan, Perkins Loan, Direct PLUS Loan, Federal Pell Grant, FSEOG and others.

The student’s account will be debited for all monies returned to the Title IV agencies. The student will be responsible for paying any outstanding balance due to the Controller’s Office. Questions regarding the Return of Title IV funds should be directed to the Financial Aid Office.