The Federal Aid (Title IV) Refund Policy assumes that a student earns his or her aid based on the period of time he or she is enrolled. Students who attend past the 60 percent point in a semester are considered to have earned 100% of the Title IV aid awarded for the payment period. A student who withdraws prior to the 60 percent point will earn the percentage of federal aid based on the number of days attended in the semester. The Federal refund policy only applies if the student is withdrawing from all classes.
The Financial Aid Office will determine the amount of financial assistance, if any, that must be returned to the sources of aid. Students who withdraw, drop out, are dismissed or take a leave of absence prior to completing at least 60% of a semester will have their federal aid recalculated. The student will be responsible for payment of any other charges that remain (e.g. bookstore charge, parking ticket). If a credit balance remains on the student’s account after the return of any required funds, the balance will be refunded to the student. Students considering withdrawing from all classes should consult with the Financial Aid office if they are concerned about the financial impact of withdrawing.
Federal Title IV Aid Paying your student fees:
Title IV Federal Aid will automatically apply toward current charges and fees. Students receiving this aid will have the option to have the aid also be applied toward other charges (such as bookstore charges, parking permit charges, prior term charges, etc.). This option will be presented online or by mail depending on how the student applied for the aid. If an option is not chosen within the specified time frame, it will be assumed that the student does not want his or her federal aid to pay all charges.
Your agreement to allow your Federal Financial Aid to be applied toward all charges on your student account is important as this may impact the processing of your refund. Your refund may not be mailed to you or direct deposited into your bank account if your student account reflects a balance due after your refund has been processed. This applies if you have a balance due in the current term because you have not agreed to allow your aid to pay all charges or if you have a balance due in a term from the prior financial aid year. Refunds to students having a balance due are processed as a paper check that is routed to the Cashier's Office, not to the student. As refund checks are received in the Cashier's Office, students are emailed to advise that a check is available for pickup.