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Return to Federal Title IV Aid Policy & Procedure

Within thirty (30) days of the date the school determined the student withdrew, they will be notified in writing if they are required to return any federal grant aid (Federal Pell or Federal SEOG).

The student is considered to be in overpayment status. A student who owes a federal grant overpayment remains eligible for Title IV funds for a period of thirty (30) days from the earlier of the date the school sends a notification to the student of the overpayment or the date the school was required to notify the student of the overpayment. If during the thirty (30) day period the student repays the overpayment to the school or signs a repayment agreement with the U.S. Department of Education, the student will remain eligible for further Title IV funds. If during the thirty (30) day period the student fails to repay the overpayment or sign a repayment agreement with the U.S. Department of Education, the student is considered to be in an overpayment status and thus ineligible for any additional Title IV aid until that amount is repaid.

If more Federal student financial assistance has been earned than has been received, the student may be eligible for a post-withdrawal disbursement. The Institute will notify the student of any post-withdrawal disbursement loan funds for which the student may be eligible and what steps need to be taken for the Federal financial assistance funds to be received. The student or parent, in the case of the Federal PLUS Loans, needs to provide permission before any loan funds may be disbursed on the student’s account or disbursed to the student or parent. However, the school may automatically use all or a portion of the post-withdrawal disbursement of grant funds for tuition and fees, and, with the student’s authorization, the school may automatically use the grant funds for other educationally-related charges. Any balance of grant funds that may be available will be offered to the student. If Federal student financial assistance funds need to be returned, the Institute must return a portion or all of the unearned funds equal to the lesser of:
a. The Institutional charges multiplied by the percentage of the unearned Federal student
b. financial assistance funds; or
c. The entire amount of unearned funds.

If there are remaining unearned Federal financial aid funds to be returned, the student must return any loan funds that remain to be returned in accordance with the terms and conditions of the promissory note. If the remaining amount of funds to be returned includes grant funds, the student must return any amount of the overpayment that is more than half of the grant funds received. The school will notify the student as to the amount owed and how and where it should be returned.

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