Financial Aid Withdrawal Refunds/Repayments

Refunds to Programs

When a student withdraws from the university, refunds will be returned to the programs from which the student received aid. The date of withdrawal is determined by the Registrar’s Office and is based upon the date the Withdrawal Form is completed including all signatures and is submitted to the Registrar’s Office. Refunds are determined by using the Withdrawal/Refund Calculation Sheet that is based upon Federal Rules and Regulations #484B, #682.606 and #682.607 in the Federal Register. No program shall be refunded with an amount greater than the award received from that program during the term of enrollment.

A semester consists of 16 weeks. The summer sessions are a continuation of the academic year. Room and board charges will be included in the Refund and Repayment calculations as applicable. The withdrawal date will be the date the Registrar documents as the official date for withdrawal from the university. This is usually the date the completed form is received in the Registrars Office.

If the student does not complete the university’s official withdrawal form, the student will be responsible for 100% of the semester’s charges. If the student secures documentation from each of his professors attesting to his last date of attendance in their classes and completes a Withdrawal Form, a refund may be calculated based upon the normal withdrawal/refund processing policy. (The Registrar determines if the documentation is sufficient. If the Registrar changes the date of withdrawal, the student should contact the Office of Financial Aid to determine if a recalculation is appropriate.)

Both the Non-Pro Rata and the Pro Rata calculations will be used to determine the appropriate amount to be returned to the Title IV programs. These calculations will involve only the direct expenses to the university. If a refund is applicable, the refunds will be returned to the following programs in the order given.  Work study is excluded from the calculations.

• Federal Direct Loan Program
• Federal Perkins Loan Program Federal Pell Grant Program
• Federal Supplemental Education Opportunity Grant Program
• Other Title IV Programs Institutional Programs
• Other External Scholarship/Grant Programs/ Student

Repayments to Programs

If a student has received a credit balance prior to the date of withdrawal and the student’s indirect educational expenses up to the time of withdrawal exceed the amount of financial aid disbursed for the semester, the student does not owe a repayment. If the cash disbursed for the semester to the student exceeds the indirect educational costs, as determined by the Office of Financial Aid up to the time of withdrawal, the student does owe a repayment. The repayment owed is the difference between the actual credit balance granted to the student and the expenses incurred (or the amount the student is eligible to retain).

The Office of Financial Aid must determine reasonable costs incurred during the period to the date of withdrawal (or during the period of enrollment). Reasonable costs are those expenses that may already have been incurred and are included in the estimated cost budget used by the Office of Financial Aid. These costs are based on the students room and board (non-boarding students only), books and supplies and other indirect expenses incurred by the student. The amount to be repaid is determined by using the Overpayment Calculation sheet. Federal Work Study and loan funds disbursed to the student are excluded from the calculation.

Once it has been established that a student received an overpayment, the appropriate repayment amounts will be distributed to each program according to the priority scheme listed below. No program shall be repaid with an amount greater than the award received from that program during the term the student withdrew, or during the term in review in the event of an over award.

• Federal Perkins Loan Program
• Federal Pell Grant Program
• Federal Supplemental Education Opportunity
• Grant Program
• Other Title IV Programs
• Institutional Programs
• Other External Scholarship/Grant Programs/
• Student

This policy is subject to any revisions imposed upon the university through Federal statute (law) or regulations with the applicable effective date.