WHAT IS THE REFUND POLICY FOR TITLE IV FUNDS IF I WITHDRAW?
If a student completely terminates enrollment or stops attending classes before completing more than 60% of the enrollment period, a repayment may be required. The amount of the Title IV aid the student must return is determined by the Federal Formula for Return of Title IV Funds as specified in Section 484B of the Higher Education Act. This law also specifies the order of return of the Title IV funds to the programs from which they were awarded. A repayment may required when cash has been disbursed to a student from financial aid funds in excess of the amount of aid the student earned during the term. The amount of Title IV aid earned is determined by multiplying the total Title IV aid (other than Federal College Workstudy) for which the student qualified by percentage of time during the term that the student was enrolled. If less aid was disbursed than was earned, the student may receive a late disbursement for the difference. If more aid was disbursed than was earned, the amount of
