The College is required to return all forms of unearned federal financial aid in accordance with the Department of Educationís Return of Title IV funds calculation. In addition, the student is responsible to make arrangements with the Department of Education i f it is determined that the student is ineligible for funds received.
The Financial Aid Office recalculates federal financial aid eligibility for any student who withdraws, drops, fails to return from a leave of absence, or is dismissed from the College.
The percentage of aid earned is determined by the number of days attended up to and including the withdrawal date divided by the amount of calendar days in a payment period, excluding any scheduled break exceeding 5 days. The withdrawal date is considered the last date of attendance. After the 60% point of the payment period, a student has earned 100% of the Title IV funds he/she was scheduled to receive during the payment period.
The R2T4 calculation will be performed within 45 days from the date of determination of the studentís withdrawal. Any unearned Title IV funds will be returned to the program(s) from which the student received aid during the payment period, in the following order: