Policy - Return of Title IV Funds
The University is required by the Higher Education Act to recalculate the eligibility for federal Title IV student financial assistance for students who withdraw from all courses, prior to completing 60% of a semester. Title IV funds include: Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG) Federal Direct Subsidized Loans, Federal Direct Unsubsidized Loans, and Federal Direct PLUS Loans. The calculation, which uses the percentage of payment period or term completed, is equal to the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is the percentage of earned aid.
The application of the Return of Title IV Funds Policy may result in funds being due to the University. Students will be responsible for any outstanding balance due to the University. Students may check for any balances due to the University through GWeb, by contacting the Student Accounts office, or by visiting the Student Accounts office at the Student Services Hub.
Mandated Sequence for Return of Title IV Funds – If a student who has received Title IV funds withdraws from or leaves the University prior to completing 60% of a semester, the University will recalculate the amount of such Title IV funds the student has earned and is entitled to retain. Any unearned aid is returned to the appropriate federal program based on the sequence below:
- Federal Direct Unsubsidized Loans (other than PLUS)
- Federal Direct Subsidized Loans
- Federal Direct PLUS Loans
- Federal Pell Grants for which a return of funds is required
- Iraq-Afghanistan Service Grant for which a return is required (Position Changed)
- Federal Supplemental Educational Opportunity Grants (FSEOG) for which a return of funds is required
- TEACH Grants for which a return of funds is required
For a student who withdraws after the 60% point-in-time, there are no unearned funds. However, a school must still complete a return calculation in order to determine whether the student is eligible for a post-withdrawal disbursement.
For more information regarding this federal policy, the calculation, formula used or to receive an estimate of unearned aid amounts, please contact the Financial Aid Office at [email protected] or (202)-994-6620.