Federal Refund Calculation Policy
When a student who has been awarded and/or received Title IV funds withdraws, drops out or is expelled during the refund period, the following actions to be taken:
A determination is made by the Registrar’s Office based on the institution’s refund policy as to the percent or amount of money the student owes the University for services received or the percent or amount of money that is to refund to the student. The Student Financial Services Office decides the portion of the refund to be returned to the Title IV program based on Return to Title IV regulations. Refunds to Title IV accounts are made in the following order:
- Unsubsidized Federal Stafford Loan
- Subsidized Federal Stafford Loan
- Federal Plus Loans
- Unsubsidized Federal Direct Stafford Loan
- Subsidized Federal Direct Stafford Loan
- Federal Direct Plus Loan
- Federal Pell Grants
- FSEOG
- Other SFA Programs
- Other federal, state, private, or institutional sources of aid
- The student
Repayments from Student Financial Assistance recipients must be distributed as follows:
- Federal Pell Grants
- FSEOG
- Other Student Financial Assistance Programs
- Other federal, state, private, or institutional sources of aid
Repayments must be returned to the appropriate student Financial Assistance accounts within 30 days of the date the student repays the funds.
Student Financial Assistance Funds must be returned within 30 days from the last date of attendance or unofficial withdrawal date.
Student Financial Assistance Funds due to a student must be paid within 30 days of the last of attendance or unofficial withdrawal date.