Education Opportunity Grant (FSEOG), Federal Perkins Loan, Federal Direct or PLUS loans and withdraws from the University is subject to the Return of Title IV Funds regulations. Students with funds from any of these programs "earn" their financial aid dollars while enrolled. If a student withdraws prior to completing 60% of a term (Fall Semester on or after October 30 and Spring Semester on or after March 25), a prorated portion of his/her federal financial aid dollars must be considered "unearned" and returned to the federal programs. Unearned financial aid dollars returned to the federal programs could cause students to owe the University a significant amount upon withdrawal. Failure to return aid due back to their federal programs will result in loss of eligibility for federal financial aid assistance.
TITLE IV FINANCIAL AID
Federal funds returned are distributed to the programs as follows: Unsubsidized Federal Direct Stafford Loans Subsidized Federal Direct Stafford Loans Federal Direct PLUS Loans Federal Perkins Loans Federal Pell Grants Federal Supplemental Educational Opportunity Grants (FSEOG) Other Student Financial Aid Programs Other federal, state, private, or institutional sources of aid Refunds are calculated according to the following schedule for those students not receiving Title IV financial aid and that withdraw from the University.
Refund Period – Fall 2015
100% refundable - Prior to the first day of classes ending August 28, 2015 75% refundable – August 29–Sept. 4, 2015 50% refundable – September 5–11, 2015 25% refundable – September 12–18, 2015 Arter September 18, 2015
0% refundable – After September 18, 2015
Refund Period – Spring 2016
100% refundable - Prior to the first day of classes ending January 22, 2016 75% refundable – January 23–29, 2016 50% refundable – January 30–February 5, 2016 25% refundable – February 6–12, 2016 0% refundable – After February 12, 2016
Refund Period – Summer 2016
100% refundable - Prior to the first day of classes ending May 31, 2016 75% refundable – June 1–2, 2016 50% refundable – June 3–6, 2016 25% refundable – June 6–8, 2016 0% refundable – After June 8, 2016
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