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Return of Title IV Funds calculations apply for any student who:

  • Withdraws before the point when 60% of the hours for the payment period are scheduled to be completed. A pro-rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal.
  • Received or could have received a disbursement of Title IV Funds (Pell Grants or SEOG)

If both above conditions apply to the student, the institution will perform a Return of Title IV funds calculation in addition to the TBR Refund of Maintenance Fee and Technology Fee calculation.

A Return of Title IV calculation is not required if the student received or was eligible to receive only FWS or State Grants. FWS funds are not included in a Return of Title IV calculation. For Return of Title IV and Maintenance Fee, the scheduled hours must be based on students' last day of attendance.

As an attendance-taking school, faculty members regularly enter attendance data. The withdrawal date for a student is determined according to the last day a student is marked as attending for the payment period. For official withdrawals, the last date of attendance is also used but students also complete an Exit process with the institution that is verified by faculty members.

Return of Title IV Funds Calculation

  1. Determine Amount of Title IV Aid Disbursed or that Could Have Been Disbursed for the Payment
  2. Determine the Percentage of Title IV Aid Earned by the Student

a. Note: Round to three decimal places when calculating percentages. Example: .4486 would be .449 or 44.9%

b. Divide the clock hours scheduled to have been completed as of the last day of attendance (withdrawal date) in the payment period by the total clock hours in the payment period

  • If this percentage is greater than 60%, the student has earned 100% of the Title IV aid, proceed to Step 3. (.6001 would be considered as greater than 60% even though when rounding the percent would be 60.0%, however, .5999 would be less than 60%).
  • If this percentage is less than or equal to 60%, proceed to Step 3.

     3. Determine the Amount of Title IV Aid Earned

a.  Multiply the Percentage of Title IV Aid Earned from Step 2 times the total Title IV aid disbursed plus the Title IV aid that could have been disbursed for the payment period from Step 1.

    4.  Determine the Amount of Title IV Aid to be Disbursed or Returned

a. Compare the amount of Title IV aid earned to the amount of Title IV aid that was disbursed for the payment period.

  • If the amount of Title IV aid earned is less than the amount of Title IV aid disbursed, the difference must be returned to the Title IV programs.
  • If the amount of Title IV Aid earned is greater than the amount of Title IV aid disbursed, the difference must be offered to the student as a post-withdrawal disbursement.

     5. Determine the Amount of Title IV Aid to be Returned by the School

a. Multiply the institutional charges for the payment period times the percentage of aid unearned (100% - % from Step 3). The school is responsible to return the lesser of the amount determined in Step 4 or Step 5.

  •  Note: Tuition and Fees are always considered Institutional charges no matter how they were paid.

      6. Return of Funds by the School

a. The school must return the unearned aid for which it is responsible by repaying funds to the following sources, in order, up to the total net amount disbursed from each source.

               1. Pell Grant

               2. Federal Supplemental Education Opportunity Grant

               3. Iraq Afghanistan Service Grant

b. The college does not participate in the FFEL GRAD/PLUS Loan or the Federal Direct Stafford Loan programs; therefore, they have been omitted from the above list.

      7. Determine the Initial Amount of Title IV Aid to be Returned by the Student

a. Subtract the amount of Title IV aid due from the school from the amount of Title IV aid to be returned. (Amount from Step 5 minus amount from Step 4).

      8. Determine the Amount of Title IV Grant Funds to be Returned by the Student

a. Amount of Title IV Grant protection: Multiply the total Title IV grant aid that was disbursed or could have been disbursed for the period of enrollment by 50%.

b. Title IV Grant funds for student to return: Subtract the protected amount of Title IV grants from the initial amount of Title IV grants for the student to return.

  • The grant funds returned by the student are applied to the following sources, in order, up to the total amount disbursed from that grant program, after subtracting the amount the school will return.

1. Pell Grant

2. Federal Supplemental Education Opportunity Grant

3. Iraq Afghanistan Service Grant