Return of Title IV Funds
REFERENCES: 34 CFR Treatment of Title IV funds when a student withdraws; Federal Student Aid Handbook 2014-2015, Volume 5- Overawards, Overpayments & Withdrawal Calculations, Chapter 2- Withdrawals and Return of Title Funds.
Basis
The return of funds requirement is a complex process involving a great deal of interoffice cooperation. This procedure is applied to thirteen Colleges that make up CCCS, each College of which may have slightly varying internal processes and structure based upon organizational structure.
Process Overview & Applicability
Title IV funds are awarded to a student under the assumption that the student will attend courses for the entire enrollment period for which the assistance is awarded. Students who do attend and successfully complete the entire enrollment period, are assumed to have earned‘ 100% of the Title IV funding disbursed. Schools are required to perform a Return of Title IV calculation for Title IV eligible students who do not successfully complete the entire enrollment period due to withdrawal (official or unofficial). If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, the student is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.
- The Return of Title IV calculations are required when a student has dropped, failed, received an unsatisfactory grade (U/D, U/F) or withdrawn, officially or unofficially, from any enrolled course during a period of enrollment at the College. Students who fail to complete some courses, but not all enrolled courses, may be included in the Return of Title IV calculations.Continue reading