2016-2017 Undergraduate Catalog

Determination of Return of Federal Aid

  1. Percentage of payment period (first day of class through last day of final examinations) completed is the number of calendar days the student remained enrolled divided by the total number of calendar days in the payment period.
  2. Percentage of Title IV funds eligible for disbursement earned is the percentage of the payment period completed through the 60% point and is 100% thereafter.
  3. Percentage unearned (to be returned to Title IV programs) is 100% minus the percentage earned.
  4. The return of the Title IV funds will be allocated in the following order up to amounts received from each program: Unsubsidized Direct Loans, Subsidized Direct Loans, Federal Perkins Loans, Direct PLUS Loans, Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), TEACH Grants, Iraq and Afghanistan Service Grants (IASG).
  5. The University will return up to the unearned percentage multiplied by the total institutional charges. The student is responsible for any remainder.
  6. Amounts to be returned by the student to loan programs may be paid according to the terms of the promissory note. Amounts to be returned by the student to grant programs are reduced by 50%.

Examples of the application of this policy may be obtained by contacting the Office of Scholarships and Financial Assistance.

Calculated refund amounts due the students will be automatically credited to any unpaid charges.