Return of the Title IV Aid
Students
that receive federal financial aid and who withdraw from ALL classes
on or before the 60% time of enrollment period, UNF will calculate,
according to federal regulations any amounts disbursed that must
be returned to the Title IV programs.
Step 1:
Determine the percentage of the enrollment period the student attended
before withdrawing. (days attended divided by total days in the
period).
Step2:
Determine the amount of Title IV aid earned by multiplying the total
Title IV aid (other than Federal Work-Study) for which the student
qualified by the percentage of time enrolled.
Step 3:
Compare the amount earned to the amount disbursed. If more
aid was disbursed than was earned, determine the amount of title
IV aid that must be returned by subtracting the earned amount from
the disbursed amount.
Step 4:
Allocate the responsibility for returning unearned
aid between the school and the student according to the portion
of disbursed aid that could have been used to cover institutional
charges and the portion that could have been disbursed directly
to the student once the institutional charges were covered.
Step 5:
Distribute the unearned funds back to the appropriate Title IV program.
Students processing refunds through the Fee
Petition Committee will have their refunds applied to the Financial
Aid program from which the funds originated. |
| |
|
|
