Return of Title IV Funds

When a student who receives Title IV financial aid (Pell Grant, FSEOG, ACG or Smart Grants, Perkins Loan, Federal Subsidized and Unsubsidized Stafford Loans and parent 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: Unsubsidized Stafford Loan, Subsidized Stafford Loan, Perkins Loan, parent PLUS Loan, 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.