student will be given 14 days from the offer to respond to the inquiry. The Student Financial Aid Office has up to 180 days to disburse funds after the withdrawal date has been determined.
If EARNED aid is less than disbursed aid, the university must calculate the difference to be returned by the university and by the student. The calculation is as follows:
[A]UNEARNED aid: Total aid disbursable minus EARNED aid
[B]Percentage of UNEARNED aid (% UNEARNED): 100 minus % completed
The university's share of the "unearned" aid is the lesser of the total amount of "UNEARNED aid" [A] or the school charges multiplied by the "Percentage of UNEARNED aid" [B]. This amount must be returned by the university.
The student's share is the difference between the total unearned amount and the university's share. UNEARNED aid minus university's share equals student's share. This amount must be returned by the student.
The Student Financial Aid Office must complete the R2T4 withdrawal calculation within 45 days from the date the university determines the student withdrew.
If the Financial Aid Office determines a student owes a return of financial aid funds, the student will be sent a new statement of account by the Bursar's Office or the student can view their account on WIRED. This is the student's financial obligation to the university. The Return of Title IV funds calculation is separate from the University's Tuition/Fee Reduction schedule. Please refer to the Registrar's Office published refund/withdrawal calendar (aka: tuition/fee reduction period).
KSU Refund Policy (not the same as the Federal Return R2T4 policy)
The school may bill the student for any unpaid institutional charges.
The Financial Aid Office will evaluate tuition/fee reductions to non-title IV aid programs on a case-by-case basis.
Aid will be returned to aid programs in the following priority: Federal Direct Unsubsidized Direct Loan, Federal Direct Subsidized Direct Loan, Federal Direct Graduate PLUS Loan, Federal Direct Parent PLUS Loan, Federal Pell Grant, and Federal SEOG program, TEACH Grant, other Title IV or Title VII aid, other federal, state, private, or institutional student financial aid. If and funds are left on your account after all adjustments to the other aid sources, the credit will be returned to you.
The net amount (as opposed to the gross amount of the loan borrowed) of Federal Direct (subsidized and unsubsidized) and Federal PLUS Loans (graduate and parent) will be used in the return calculation.
Please remember all financial aid recipients will be held accountable under the university's Satisfactory Academic Progress (SAP) policy.
The Student Financial Aid Office is required by federal regulation to evaluate students receiving all Failing, Incomplete, or Unsatisfactory grades for the semester. It is always in the student's best interest to talk with the Student Financial Aid Office regarding their options to see if it is best for them to go ahead and withdraw from classes early in the semester and for them to know the implications they may face if they did not and earned all 'F' grades. At the end of each semester, the Student Financial Aid Office is required to review all students' grades, but especially those that receive all 'F' grade(s) to determine if the student was an 'Unofficial