The Financial Aid staff must recalculate financial aid eligibility for students who withdraw, are dismissed, or drop out prior to completing 60% of a semester. A student should contact Enrollment Services Office to withdraw from all classes. The student’s notification will initiate the Return of Title IV (Federal) Funds calculation which will be computed by the Financial Aid staff.
When a student who is receiving federal financial aid withdraws from all classes (or leaves without notifying the institution) during the federal refund period, unearned funds will be returned to federal aid accounts in the following order:
– Federal Direct Unsubsidized Loan
– Federal Direct Subsidized Loan
– Federal PLUS Loan
– Federal Pell Grant
– Federal Supplemental Educational Opportunity Grant (FSEOG)
– Iraq and Afghanistan Service Grant
The government provides a form called *Treatment of Title IV Funds When a Student Withdraws From a Credit-Hour Program* which is used to calculate the amount of Title IV aid earned by the student. The Official Withdrawal Date will be the student’s last date of recorded attendance. This date will be used to determine the amount of Title IV aid to be returned or offered as a Post-Withdrawal Disbursement, if applicable.
The percentage of the payment period completed is determined by dividing the number of calendar days completed in the payment period, as of the day the student withdrew, by the total number of calendar days in the same period. Institutionally scheduled breaks of five or more days are excluded from the calculation.
In order to receive all or a portion of a post-withdrawal disbursement of a loan, the student, or the student’s parent for a PLUS Loan, will need to sign and return a notification letter by the appropriate date.
Title IV grant funds from a post-withdrawal disbursement will be credited automatically to a student’s account to pay for tuition, fees, and room and board. The student’s authorization will be requested in order to apply the Title IV grant to charges other than current charges.
Unearned funds will be returned to the Department of Education within 45 days of the date it was determined that the student withdrew. The same Return of Title IV Funds calculation will be used for all students whether the students are asked to withdraw or they withdraw voluntarily.
A letter detailing the amount of Title IV aid to be returned will be sent to the student’s home address following withdrawal. When aid is returned, a balance may be owed to Cincinnati Christian University. The student should work with the Enrollment Services Office to make arrangements to pay any balance due.