Students withdrawing from the University or dropping semester credit hours which result in a change in the assessment of fees will be eligible for a refund of fees based on the dates and conditions listed hereafter. No refund can be made on certain fees and optional fees as established by the Kentucky State University Board of Regents. The date of completion of the withdrawal or credit hour drop determines the percent of refund for which the student is eligible. A withdrawal/drop is complete when the necessary form(s) have been completed and returned to the Office of the Registrar. Generally, financial aid funds are applied to the student's account after the 12th day of classes. Residual checks are deposited to the student's BankMobile Vibe account.
For purposes of calculating refunds, "weeks" are counted as seven-day periods beginning with the first day of classes for the semester. Refunds will be issued on canceled classes and early withdrawals in accordance with the institutional refund policy. Refunds issued from Title IV funds will be issued within fourteen days from the date funds are applied to the student's account resulting in a credit balance. Generally, financial aid funds are applied after the 12th day of classes. Questions concerning refunds should be directed to the Bursar's Office (Academic Services Building, Suite 354; Phone 502-597-6278 or email bursarmail@kysu.edu).
Students who receive Title IV funds such as the Federal Pell Grant, Federal Supplemental Education Opportunity Grant (FSEOG), Federal Direct or PLUS loans and withdrawals 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, a prorated portion of the federal financial aid dollars will be considered “unearned” and returned to the respective federal program. Unearned financial aid dollars returned to the federal programs could cause students to owe the University a significant amount upon withdrawal. A portion of the return may require repayment to the Department of Education by the student. Failure to repay any amount due to the respective federal program will result in loss of eligibility for federal financial aid assistance.
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 Pell Grants
Federal Supplemental Educational Opportunity Grants (SEOG)
TEACH Grant
Other Student Financial Aid Programs
Other federal, state, private, or institutional sources of aid
If the Financial Aid Office determines a student owes a return of financial aid funds, the student will receive a new statement of account from the Bursar's Office or the student can view their account on WIRED. This is the student's financial obligation to the university.
To view the formula for return of financial aid funds visit http://kysu.edu/administration-governance/studentaffairs/financial-aid/return-of-title-iv-financial-aid/.