Student Financial Services Office Policies: Return of Title IV Funds

Return of Title IV (Federal) Aid: 

  • Students who receive Federal financial aid and withdraw (either officially or unofficially) from ALL classes before completing more than 60 percent of the semester will have a percentage of their Title IV funds returned, according to federal regulations. UNF will calculate any amounts disbursed that must be returned to the Title IV programs.  

 Complete Withdrawals:

  •  Your withdrawal date will be the date you began UNF’s official withdrawal process.

 Unofficial Withdrawals:

  • If you stop attending without officially withdrawing, the last documented date of attendance will be the withdrawal date.
  • If all grades are a combination of F, W (withdrawal) and I (incomplete) your professors will be asked to report the last date of attendance. Based on this information, you may be required to repay the "unearned" portion of your federal aid.
  • If your grades were all F or I and you never attended, you will be required to pay back the full amount.

 Repayment:

  • If it is determined that you have received excess funds, any “unearned” portion will be returned to the United States Department of Education, resulting in a balance owed to UNF in the amount of those excess funds.
  • This amount will be placed on accounts receivable, prohibiting any registration activity, and the receipt of academic transcripts or diplomas until these funds are repaid.
  • If these funds are not paid, UNF will turn the charge over to a collection agency.

Federal regulations require Title IV aid to be refunded in the following order:

  • Federal Direct Unsubsidized Stafford Loans
  • Federal Direct Subsidized Stafford Loans
  • Federal Direct Graduate PLUSLoans
  • Federal Direct PLUS Loans (for parents)
  • Federal Pell Grants
  • Federal Academic Competitiveness Grants (ACG)
  • National SMART Grants
  • Federal Supplemental Educational Opportunity Grants
  • Federal TEACH Grant  

For grants, the law provides that you return 50 percent of any grant you receive requiring repayment. Any amount you do have to return is a grant overpayment, and you must arrange with UNFor the U.S. Department of Education to return the funds.

 

Please Note:
1. You may also be required to repay other federal, state, institutional, or private student financial aid programs based on the terms and conditions associated with those programs.
2. UNF is required to return to the applicable federal program account the unearned percentage of institutional charges (tuition, fees, on-campus housing). UNF may bill you for any funds returned on your behalf, including loan funds.
3. UNF’s tuition refund policy is separate from the federal requirement to return unearned aid. Whether or not you receive a tuition/fee refund has no bearing on the amount you must repay under this formula.

 

For additional information, questions or concerns, please contact us.