Return to Title IV Funds Policy

Federal regulations require recalculation of federal financial aid eligibility for students who withdraw, drop out, or are dismissed prior to completing 60 percent of an academic term. Recalculation is based on the following:

Number of days attended divided by number of days in semester = percentage of semester completed
Total amount disbursed x percentage completed = earned amount
Total amount disbursed - earned amount = amount to be returned

If the calculation results in an overpayment, the student will owe the balance to the College. The student should make payment arrangements on this balance. If the student fails to pay the debt to the College within 45 days of notification, the debt will be reported to the U.S. Department of Education as an overpayment. Federal eligibility is lost until the debt is paid or satisfactory arrangements are made with the U.S. Department of Education. In addition, the student is responsible for reimbursing the College for any overpayment owed by the College.

Students wishing to withdraw from all of their classes should do so through the Counseling Center. A withdrawal is considered formal when the student initiates the withdrawal process. Return of Title IV calculations are based on the student’s last date of attendance at the institution. If the last date of attendance is unknown, the 50 percent point of the semester will be used in the calculations.