Financial and General Information
Tuition Refund for Federal Title IV Financial Aid Recipients
Federal Title IV financial aid includes unsubsidized Federal Direct Loans. For students who are recipients of federal Title IV financial aid, additional calculations must be made for tuition refunds.
First, the college calculates the amount of Title IV aid earned by the student for the percentage of payment period completed. If the percentage of payment period completed is greater than 60 percent, the student is considered to have earned 100 percent of their Title IV aid; otherwise, they have earned the actual percentage calculated.
Second, the college compares the amount earned with the amount disbursed to determine the amount that must be returned to the Title IV programs. The amount disbursed is that aid awarded and disbursed to the student’s account, plus the Title IV aid awarded that could have been disbursed to the student’s account (such as memo balances).
Third, the college determines the amount of Title IV aid that must be returned to the Title IV programs by the college and by the student. Aid is returned to the Title IV programs in the following order: Unsubsidized Direct Loans, then Direct Graduate PLUS Loans.