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.
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.