What is the “Return of Title IV funds?
The Department of Education requires ENMU’s Office of Financial Aid to recalculate federal finacial aid eligibility for students who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60 percent of the semester. Federal Title IV aid includes Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Leveraging Educational Assistance Partnership (LEAP), the Perkins Loan, the Stafford Loan and the PLUS loan. A student who receives all F’s for the semester will owe a refund to the Title IV Aid Programs. The refund will be calculated as if the student withdrew at 50 percent of the semester, unless the student’s last day can be determined through an academically related activity.
Related Questions
- Is a return of Title IV funds calculation required for a student who drops to less than half time enrollment status during a payment period but does not withdraw?
- When may the school round dollar amounts used in the return of Title IV funds to the nearest whole dollar?
- Are there specific rounding rules a school must follow when calculating a return of Title IV funds?
