When a student withdraws prior to completing 60 percent of the term they have not "earned" all of their federal financial aid and a Return of Title IV Funds calculation must be performed. We are required to return the lesser of the unearned portion of federal aid, or of the total institutional charges (tuition and fees, housing charges, etc) billed to the student.
The unearned portion of the aid is returned to the lender or aid program. For example, if a student completes only 20 percent of the term, then he or she has failed to earn 80 percent of the federal financial aid that was disbursed, or could have been disbursed, prior to the withdrawal.
If the return of the funds creates a balance due on the student account, the student will be responsible to pay the balance on their account. Funds included in the Return of Title IV funds process are: Unsubsidized Federal Stafford Loans, Subsidized Federal Stafford Loans, Federal Perkins Loans, Federal PLUS Loans, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, and other Federal Grants.
Unofficial Withdrawal (negative grades):
Students who receive all "X" (no basis for grade), "M" (missing), "F" (fail), "W" (withdrawal) and/or "NP" (no pass) grades. Because these grades do not confirm attendance or participation, students are required to provide proof of their last date of attendance in at least one class for which they were registered. These students will be notified by mail and provided with a Proof of Attendance form that they must return to the Office of Student Financial Aid.
If no proof is provided by the deadline established by the Office of Student Financial Aid, Students will be billed for a portion of the financial aid that was
received.
