Return of Title IV FundsAttention: Funds Not Returned
Failure to repay funds will result in the termination of eligibility for federal financial aid at any institution. If a student completely withdraws after 60% of the semester is complete, the student most likely will not owe a repayment. We highly recommend all students contact the Financial Aid Office before withdrawing.
- A student earns his Title IV aid based on the period of time he remains enrolled.
- Unearned Title IV funds, other than Federal College Work Study, must be returned to the fund that was charged.
- Unearned aid is the amount of Title IV aid disbursed that exceeds the amount of Title IV aid earned.
- If a student completely withdraws during the first 60% of a semester, the student may have to return some of the financial aid money back to the college or the U. S. Department of Education. A Post Withdrawal calculation is performed for all Title IV financial aid students. Any funds that the student earns will be disbursed to the student.
- If a student receives all F's or a combination of all F's and W's, it is considered an Unofficial withdraw. The instructor(s) is asked to give the financial aid office a date of last attendance for the student in that course. The financial aid will gather the information and perform a Return to Title IV calculation and a Post Withdraw calculation for the student according to federal regulations. All refunds will be returned to the proper funds within 45 days. (34 CRF 668.21/22)
- Each student who owes a repayment will be notified in writing by the Jefferson State Financial Aid Office of the requirement to repay Title IV funds.
Official and Unofficial withdraw calculations are based on reports from Enrollment Services as to the last date of attendance/grades. Repayment calculations are performed according to federal regulations. (34 CFR 668.21/22)