What principles guide the treatment of second or subsequent disbursements of FFEL or Direct Loans in Return of Title IV Aid calculations?
Any undisbursed Title IV aid for the period for which the return calculation is performed is counted as aid that could have been disbursed for purposes of determining earned Title IV aid regardless of whether the institution was prohibited from making the disbursement on or before the day the student withdrew, so long as the conditions for late disbursements listed below are met prior to withdrawal. The conditions for a late disbursement in ยง668.
Any undisbursed Title IV aid for the period for which the return calculation is performed is counted as aid that could have been disbursed for purposes of determining earned Title IV aid regardless of whether the institution was prohibited from making the disbursement on or before the day the student withdrew, so long as the conditions for late disbursements listed below are met prior to withdrawal.
