RETURN TO TITLE IV REFUND POLICY

The return of funds to the federal government is based on the premise that financial aid is earned in proportion to the length of time during which the student attended. [...] If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned to the federal program(s). [...] If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received. [...] Percentage Earned – The percentage of Title IV funds earned is equal to the percentage of the payment period completed as of the last day of attendance. [...] If the student fails to return within the 180 day period, the student status is considered withdrawn and the withdrawal date is the student’s last day of attendance based on the attendance records.