FinancialL Aid Return Policy**

Treatment of Federal Financial Aid Funds (Title IV Aid)

• Students earn financial aid each time they attend class. For that reason, Federal funds (Pell Grant, FSEOG, Subsidized/Unsubsidized Loans, and PLUS loans) may need to be returned if students withdraw before the end of the semester. Students must complete 60 percent of the semester (usually 11 weeks) or they may be required to repay all or part of the financial aid disbursed for that semester.
  
  
• Once the Registrar's Office processes the withdrawal, the Financial Aid Office will determine the amount of financial aid a student has "earned" and the amount for which they are not eligible ("unearned"). The unearned funds are returned to the Department of Education. To calculate the completed portion of the semester, we divide the number of days a student attended by the number of days in the semester. The number of days in each semester begins with the first day of class and ends with the last day of class. Semester breaks of five or more consecutive days are not included in the calculation; however, weekends are counted.
  
  
• In the case of a student who officially withdraws, the date of withdrawal is the date used to determine return amounts.
  
  
• In the case of a student who unofficially withdraws, the drop out date, which is the last recorded date of class attendance as documented by the institution, is the date used to determine return amounts.
  
  
• Unearned federal financial aid must be returned to the appropriate funds in the following order:
  • Unsubsidized Stafford Loan
  • Subsidized Stafford Loan
  • Federal Pell Grant
  • Federal Academic Competitiveness Grant (ACG)
  • Federal Supplemental Educational Opportunity Grant (FSEOG)