 |
|
| |
This |
Replaces |
| File |
220.60 |
New |
| Date |
7/1/03 |
New |
|
ORIGINATOR: Associate Vice President, Financial Aid
SUBJECT: Federal Financial Aid Return of Funds Policy
I. Introduction
-
Pursuant to Federal law, the University is required to calculate a Return
of Title IV Funds on all federal financial aid recipients who withdraw (officially
or unofficially) from all classes in a given semester/period of enrollment
on or before the 60% attendance point in the semester/period of enrollment
within 30 days of the date that the University determines that the student
has withdrawn.
II. The University will determine the amount of Federal funds to return to
the aid programs via a prorata calculation pursuant to 34 CFR § 668.21.
-
Students receiving Federal financial aid who withdraw from their classes
may lose some/all of the aid that has already been disbursed to their account.
-
Students receiving financial aid who withdraw from their classes may not
receive further financial aid disbursements for that semester/period of
enrollment.
- Students receiving financial aid who withdraw from their classes are personally
responsible for payment of charges for any tuition and fees that are due at
the time of withdrawal from the semester/period of enrollment, or any charges
for tuition and fees due as a result of the University's return of funds to
the federal aid programs resulting from the requirements under this Policy.
|
