Return of Federal Title IV Aid

If a student is receiving any federal financial aid (i.e., Federal Direct Loan, Federal Perkins Loan, Federal PLUS, Federal PELL, or  Federal SEOG) and withdraws or stops attending before completing 60 percent of the enrollment period (the last date of any class-related activity), a portion of the awarded federal aid must be returned according to the higher education amendments of 1998.

Normally within 10 days of the withdrawal date or at the end of each term when reviewing students who have received failing grades,  Student Account Services and the Financial Aid Team will calculate if any portion of federal funds are needed to be returned. The calculation may result in the student owing a balance to the University and/or the federal Title IV programs if a student withdraws or it is determined they stopped attending before 60% of the semester has passed. Sample Return of Title IV Funds Worksheets are available for review in the Vice President of Student Affairs Office, Speare Administration Building.

In some instances the student may be required to repay some of the Title IV aid received as federal aid must be earned.  Aid is awarded for a full semester and if a student does not complete at least 60% of the term, a portion of federal aid must be repaid.   If a student has not received all eligible federal aid, a student may be eligible for a late disbursement.  If eligible, the student will be notified by the Financial Aid Team.

Non-Title IV financial aid is not affected by this calculation of earned aid. State, institutional and private assistance will be subject to the normal refund guidelines established for the program or by the donor.

CONTACT INFORMATION

Debbie Cole, Student Affairs
305 Speare Administration Building
17 High St, MSC 04
Plymouth, NH 03264

(603)535-2240

EFFECTIVE DATE OF WITHDRAWAL DETERMINATION
Your effective date of withdrawal will be the earliest date of:

  • Receipt of official withdrawal form or notice of intent to withdrawal, or
  • Last date of attendance in any class confirmed by a student’s instructor,  or
  • The mid-point of the semester, if the student fails to submit a withdrawal form or notify the University of intent to withdraw before the mid-point of the semester.

Important: If the withdrawal date is set at the mid-point of the semester because you failed to submit a withdrawal form or provide a notice of intent to withdraw, the University will consider that you attended class through the first one-half of the semester. Therefore you will be responsible for all charges incurred for the first half of the semester.

April 7th, 2014 by Eric

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