REFUND POLICIES
Return of Title IV Funds
The Title IV are earned in proportion to the percentage of the payment period that is completed, with 100% of funds awarded after 60% of the payment period is completed. For instance, if the payment period lasts 100 days, 100% of the Title IV are earned after 60 days is completed. If a student withdraws after 60% of the payment period is completed, Title IV funds are not required to be returned.
When a student withdraws prior to completion of 60% of the payment period, the University must determine if the title IV funds the student has received exceed the amount earned. This calculation is based on the number of days completed in the payment period as of student withdrawal date. If the amount received by the student exceeds the amount earned, the University must return the excess funds of the Title IV programs in the sequence mandated by the U.S. Department of Education.
The normal refund calculations will be applied after the Title IV return calculation has been made. If you have any questions about this policy, please visit the Financial Aid or the Business Office for complete examples.