Refund & Repayment Policies
Students whose circumstances require that they cease attendance in all classes are strongly encouraged to contact our office and their academic advisor before doing so.
The federal government mandates that students who withdraw from all classes may only keep the financial aid they have “earned” by attending classes up to the time of withdrawal. Title IV funds that were disbursed in excess of the earned amount must be returned by the University and/or the student to the federal government. This situation could result in the student owing aid funds to the University, the government, or both.
The university calculates and returns Title IV funds according to Federal Title IV policy 34CFR 668.22. The amount of Title IV funds (other than Federal Work Study) that must be returned to the Title IV programs is based on the length of time the student was enrolled before withdrawing. This policy is effective for complete withdrawal from a semester in which a student receives Title IV federal funds.
If a student withdraws before 60 percent of the semester has elapsed, a percentage of Title IV funds will be returned in accordance with federal guidelines to the federal program based on the length of time the student was enrolled before withdrawal. After 60 percent of the semester has elapsed, the student is considered to have used all federal aid received for the semester.
For "unofficial withdrawals", wherein the student does not withdraw, but does cease attendance within the semester and earns no passing grades, the return of Title IV funds is dependent upon the last date a faculty member can document that the student participated in a class. For "official withdrawals", wherein the student drops all enrolled classes within the semester, the return of Title IV funds is dependent upon the date the student requests withdrawal. If the University is unable to document that the student ever attended class, the student did not establish eligibility as a "student" and 100% of all funds must be repaid.
A weekly report identifies Title IV aid recipients who have completely withdrawn from the University within the semester, at which point the Financial Aid Office will begin the Return of Title IV Fund calculation. This calculation will be completed within 30 days of the student's complete withdrawal. All funds will be returned and the student will be notified in writing regarding any refund or repayment within 45 days.
Allocating Returned Title IV (Federal) Aid
Funds that are returned to the federal government are used to reduce the outstanding balances in individual federal programs. Financial aid returned (by the University and/or the student or parent) must be allocated in the following order:
- Federal Unsubsidized Stafford Loan
- Federal Subsidized Stafford Loan
- Federal Perkins Loan
- Federal PLUS (Parent) Loan
- Federal Pell Grant
- Academic Competitiveness Grant (ACG)
- National Science & Mathematics Access to Retain Talent (SMART) Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Other Federal Loan or Grant Assistance
Should a student withdraw from courses on or before the final add/drop date for the semester, tuition and fees for the semester will be 100% cancelled. Should a student withdraw after the final add/drop date but on or before the last day to receive a 50% refund, tuition and some fees will be 50% cancelled. Students may also appeal with the Admissions & Records Office for 50% or 100% tuition and fees refunds. Refunds will be first applied to any balance still owed to the University, including any aid cancelled or reduced due to the withdrawal, after which any remaining funds will be disbursed to the student.
Should a student receive a 100% refund, non-federal institutional grants, non-federal institutional loans, and the Millennium Scholarship will be cancelled in their entirety. Other scholarships will be reviewed for compliance with the wishes of the scholarship donor, and may be reduced or cancelled.