The student�s eligibility for Financial Aid is based upon enrollment. The Higher Education Amendment of 1998 govern the Return of Title IV Funds Policy for a student who completely withdraws from a period of enrollment (i.e. semester). These rules assume that a student "Earns" aid based on his/her semester enrollment. "Unearned" aid, other than Federal Work- Study, must be returned. Unearned aid is the amount of Federal financial aid received that exceeds the amount the student has earned. Unearned aid may be subject to repayment.
During the first 60% of the semester enrollment, a student "earns" aid in direct proportion to the time of his/her enrollment. The percentage of time the student remained enrolled is the percentage of aid for that period for which the student earned his/her aid. A student who remains enrolled beyond the 60% point of the semester enrollment earned all his/her aid for the period. In some instances a student may owe an overpayment.
*Note to IT: Please change title of link to "Return of Title IV Policies" instead of "Return to Title IV programs." Thank you*