Return of Title IV Federal Financial Aid
When a Title IV aid recipient completely withdraws from TSJC prior to the end of the term, a refund of the aid will be calculated. The calculation will be based on the number of days attended compared to the total number of days in the semester. Withdrawal after 60% of the term is not subject to the return calculation. Aid used for tuition, fees, books, and room/ board, will be refunded by both the student and the College.
The withdrawal date will need to be determined in order to calculate the amount to be returned. This will be the date the student began the withdrawal process with the Student Services Office, or otherwise provide the institution with notification of intent to withdraw. If the student drops without any notification, the midpoint of the term (50% aid returned) will be used as the withdrawal date or the student’s last date of attendance at a documented academically related activity. If the withdrawal process was not begun because of illness, accident, or similar circumstance beyond the student’s control the institution will determine the appropriate withdrawal date. If at the end of the semester the student receives all W’s, F’s or a combination, then again, the midpoint of the term (50% aid returned) will be used as the withdrawal date or the student’s last date of attendance at a documented academically related activity.
The College will return to the Title IV programs, the amount based on the standard calculation. That amount is now due to the College by the student. Additionally, the student will return any remaining unearned Title IV funds. (If the student needs to return funds to the Pell or SEOG programs based on the return priority, they need to return no more than 50% of the original amount). Students have 45 days to repay their portion. After 45 days, the College will notify the state collection agency. The student will then be ineligible for Federal Title IV aid at any post-secondary institution until the overpayment is repaid. The loan amounts the Student needs to return will be repaid according to the regular repayment schedule for the loan. The school refund to the loan will be credited to the original loan amount.
Example: A student received a Pell Grant for $1563 for full time enrollment of 12.0 credit hours. Student charges for the term totaled $726.20. The student completed 30 calendar days of the 111 days of the term.
Original Pell Award $1,563.00
| Student withdraws after attending 30 calendar days (30/111) | |
| Percentage of Title IV aid earned 27% Amount of Title IV aid earned | $ 422.01 |
| Pell award amount of Title IV aid unearned (Title IV aid to be returned) | $ 1,140.99 |
| Institutional Charges incurred by student | $ 726.20 |
| Percentage of Title IV aid unearned | 73% |
| Institutional Charges unearned | $ 530.13 |
|
Title IV Aid to be returned by student, computed as follows:
(Original award - institutional charges) = student amount x percentage unearned / 2 = total amount student must repay ($1563 - $726.20) x 73% = 610.86 /2 = $305.43 $305.43 |
|
| Pell Funds to be returned to the Department of Education by the institution | $ 530.13 |
The order of return of Title IV funds will be as follows:
- Unsubsidized Stafford Loans
- Subsidized Stafford Loans
- PLUS Loans
- Federal Pell Grant
- Federal SEOG
The fees, procedures, and policies listed above supersede those published previously and are subject to change at any time. Financial aid policies not listed here are available in the Financial Aid Office.
Refunds and Repayments