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Students who receive Title IV federal student aid funds and who withdraw, drop out, are dismissed, cease attending classes, or take a leave of absence prior to completing 60 percent of a semester are subject to Federal Return of Funds requirements. The applicable Title IV financial assistance programs include Federal Pell Grants, Federal SEOG Grants, Subsidized and Unsubsidized Federal Direct Loans, and Federal PLUS Loans.

In addition, the institution will return unearned TA (military tuition assistance) funds on a proportional basis through at least the sixty percent portion of the period for which the funds were provided.

The Office of Student Financial Assistance recalculates federal financial aid eligibility and/or tuition assistance based on the following formula:

Percent of Federal financial assistance and/or tuition assistance =

Number of days completed up to withdrawal date

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Total number of days in the payment period (semester)

 

The withdrawal date is defined as the actual date the student began the institution’s withdrawal process, the student’s last date of recorded attendance or the midpoint of the semester for a student who leaves without notifying the institution. An example of the withdrawal and refund policy follows.

For Example - For a semester that begins on August 30 and ends on December 15 (with no scheduled breaks), the denominator used to determine the amount of federal student aid earned by a student who withdraws fully would be 105 days. The 60 percent point of the semester would be October 31. A student who withdraws on October 1 (day 33) would have earned 33/105, or 31.43 percent, of the federal student aid disbursed for the semester. The Office of Student Financial Assistance will recalculate the student award and return 68.57 percent of the federal student aid and/or tuition assistance to the federal student aid program and/or appropriate military branch of service. If $1,000 in Federal Direct Loan funds were disbursed, the University would be required to return $686 to the federal government of the funds. The student would then owe 91Ï㽶ÊÓƵ $686, plus any other unpaid charges due. Similarly, if $1000 in tuition assistance was disbursed, the University would be required to return $686 to the appropriate military branch of service.

The Return of Title IV Funds requirement is part of the Higher Education Amendments of 1965 as reauthorized in 1998 and applies to any student who received Title IV funding, as described above. Return of funds to the federal programs is not the same as Jacksonville

University’s institutional policy on refunds and withdrawals and may result in a balance due the University even when the account balance was zero at the time of withdrawal.

The Return of Title IV Funds requirement does not apply to students who withdraw from one or more classes but continue to be enrolled in at least one class during the semester. It does not apply to state or institutionally funded financial assistance. For students who withdraw fully during one of the institution’s published refund periods, any institutional awards previously distributed will be prorated in proportion to the amount of charges to be refunded. Students who fail all coursework during a particular semester, are subject to Return of Title IV Funds based on last date of academic activity. Proof of academic activity beyond 60% of the term is needed in the Office of Student Financial Assistance to prevent the Return of Title IV Funds.

Any individual who receives student financial assistance and is considering withdrawal from the University should contact the Office of Student Financial Assistance to determine the effect of withdrawal on aid eligibility and/or charges.