The process for computing Return of Title IV Funds


Read about the process for computing Return to Title IV Funds

 

The Financial Aid Office uses Federal procedures to determine the amount of aid that must be returned by the school and/or the student to Title IV programs. After this determination is made we will contact students via Cardinal Mail and postal mail. The procedure is as follows:

1. Determine appropriate withdrawal date
2. Determine Amount of Earned Title IV Aid
3. Determine Amount of Unearned Title IV Aid
4. Determine Title IV Aid to be Disbursed
5. Determine Title IV Aid Disbursed
6. Determine Title IV Aid to be Returned
7. Calculate the College’s Responsibility
8. Determine Amount College Returns to federal aid program
9. Determine Student’s Responsibility
10. Determine Amount Student Returns to federal aid program

Financial aid that is determined to be "unearned" is reduced in the following priority:

1. Federal Stafford Unsubsidized Loan
2. Federal Stafford Subsidized Loan
3. Federal Parent PLUS Loan
4. Federal Supplemental Educational Opportunity Grant (FSEOG)
5. Federal Pell Grant

Calculations are done on a case-by-case basis after the withdrawal date is confirmed.