Return of Title IV Funds
Return of Title IV applies to all Title IV grant and loan recipients who withdraw or leave school before completing 60 percent of the payment period or period of enrollment. Once receiving notification that the student has either withdrawn or stopped attending class, the school must determine the amount of Title IV assistance the student has "earned" based on the length of time they were enrolled. The school is then responsible for returning any portion of the unearned Title IV funds to the appropriate Title IV program within 45 days.
Title IV Programs Include:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Federal Perkins Loan
- Federal Stafford Loans
The definition of a student's withdrawal date is the last day of academic attendance, according to the school's documented attendance record, or the date documented on withdrawal paperwork the student must complete to properly withdraw. Return to Title IV funds are calculated by the Business Office. The student may owe money to the school upon withdrawal.
Students with direct loans are responsible for completing Direct
Loan Exit Counseling when they graduate, leave school, or drop
below half-time enrollment. Students should go to the
Federal Student Aid (FSA) website to fulfill this