Return of Title IV Funds Policy
Return of Title IV Funds Policy
Financial aid is awarded under the assumption that the student will attend for the entire semester. Students who receive financial aid and find it necessary to withdraw from all classes may be required to reimburse a percentage of funds received. This is a separate calculation from the institution's tuition and fees refund policy.
Federal Title IV funds recipients are subject to the "Return of Title IV Funds" Policy which is based on the percentage of the enrollment period completed and the amount of Title IV aid disbursed.
- The percentage of time completed in the enrollment period is calculated by dividing the number of days completed by the total number of days in the enrollment period. After 60 percent of the semester is completed, there is no return of Title IV funds.
- The withdrawal date is determined by the Registrar's Office.
- The amount of earned aid is calculated by multiplying the amount of disbursed Title IV funds by the percentage of time completed.
- The amount to be returned to the Department of Education is determined by taking the total amount of disbursed aid and subtracting from it the amount of earned aid.
- The institution's share of the amount to be returned is calculated by multiplying institutional charges by the percentage of time not enrolled. The student's share is calculated by subtracting the amount the school must return from the total amount to be returned.
- Loans are repaid by the student according to the terms and conditions of the promissory note.
- Any grant amount owed by the student is applied to their student account and repaid by the school.
Title IV funds are returned to the programs from which the student received aid in the following order:
Unsubsidized Direct Stafford Loans
Subsidized Direct Stafford Loans
Federal Perkins Loans
Federal PLUS Loans
Federal Pell Grants for which a return is required
Federal Supplemental Educational Opportunity Grant (FSEOG) for which a return is required
Iraq and Afghanistan Service Grant for which a return is required
West Virginia State, Institutional and Athletic aid is returned based on the following conditions:
If the student receives Title IV aid, the refund percentage follows the federal policy listed above.
If the student does not receive Title IV aid, the following percentages must be returned to the appropriate funding source, based on the withdrawal date determined by the Registrar (specific dates for each semester are published by the Registrar's Office):
During the 1st and 2nd week of the semester, 90% refund
During the 3rd and 4th week of the semester, 70% refund
During the 5th and 6th week of the semester, 50% refund
During first 13% of the term, 90% refund to state
From 14% to 25% of the term, 70% refund to state
From 26% to 38% of the term, 50% refund to state
After 38% of the term, no refund.
Note about waivers: DHHR, HSTA, SOCW match new tuition after refund.
Students must contact the Academic Success Center to officially withdraw from the university.
For students that cease attendance and do not complete the official withdrawal process, the university must determine the last date of attendance and do a refund calculation if the date is during the refund period. If a student who began attendance and has not officially withdrawn fails to earn a passing grade in at least one course, the university is required to assume, for Title IV purposes, that the student has unofficially withdrawn and the last date of attendance must be determined and a refund calculation completed if the date is during the refund period.