Consumer Information:  Federal Financial Aid Return of Funds Policy

Eligibility for federal student aid is based on enrollment for the entire period for which the aid is awarded.

When a student withdraws or enters a leave of absence prior to completing 60% of the term for which they have received aid, the student is no longer eligible for the full amount of Title IV funds that the student was originally scheduled to receive.  Title IV funds include federal Direct Student Loans.  A portion of the funds received must be returned to the government based on the number of days completed within the term.  The amount of aid the student has earned is determined on a pro-rated basis. If a student completed 30 percent of the period of enrollment, they would earn 30 percent of the assistance they were originally scheduled to receive. Once a student has completed more than 60 percent of the period of enrollment, the student earns all the assistance they were scheduled to receive.

Following the return of funds to repay the student’s unearned aid, the student will have a balance on their tuition account for which payment arrangements must be made.