Exits with Federal Financial Aid
Processing of federal financial aid (Title IV) for students that officially and unofficially withdrawal from Kent State University
A student is considered to have withdrawn for Title IV purposes if the student:
- Officially drops or withdraws from all courses during a semester, OR
- Stops attending at any point prior to completing the payment period and does not provide written confirmation that he or she will attend a course that begins later in the same semester.
The Department of Education in CRF34 Part 668 Federal Return Policy provides the guidelines for calculating the amount of Title IV aid that must be returned for students who withdraw. The steps used to calculate the returned amounts are as follows:
1. Determine the withdrawal date
a) Date the student withdrew , orb) Date the student provided Official Notification of intent to withdraw, orc) The midpoint of the payment period for unofficial withdrawals, ord) The last date attended as reported by the instructor in conjunction with an SF/NF grade
2. Determine the amount of earned Title IV aid
a) Determine the percent of semester/payment period completed:1) Number of days attended through withdrawal date (including weekends)2) Divided by the number of days in the semester/payment period (for full-semester
courses typically 112 days)
b) Multiply Title IV aid that was disbursed or could have been disbursed by the percent
of semester/payment period completedc) If earned Title IV aid is 60% or less, then continue to Step 3d) If earned Title IV aid is greater than 60%, then stop. No return of aid is required, as the student
is considered to have earned 100% of the Title IV funds he or she was scheduled to receive
during the semester/payment period.
3. Return Title IV funds to programs
a) Determine the amount of unearned Title IV aid (total amount of Title IV aid that was disbursed
or could have been disbursed minus amount of Title IV aid earned).b) The school returns the lesser of:
1) The amount of unearned Title IV aid, or
2) Institutional charges multiplied by the unearned percentagec) The school will also return any unearned grant funds for which he or she is responsibled) The student repays any loan amount inStep 8, Box R, according to the terms of theborrower's
promissory note.e) Order of return of Title IV aid:
1) Federal Direct Unsubsidized loans
2) Federal Direct Subsidized loans
3) Perkins loans
4) Federal Direct Graduate loans (PLUS)
5) Federal Direct Parent loan for Undergraduate Students (PLUS)
6) Pell Grant7) Academic Competiveness Grant
8) National Smart Grant
9) Federal Supplemental Education Opportunity Grant (SEOG)
10) TEACH Grant
4. Determine the amount of funds that need to be returned to any state, university program, or other agency.
NOTE: The return policies for non-federal aid are determined by the various states, university programs, and agencies that award the aid. The university is obligated to honor these policies.
5. Return of any remaining funds to the student
a) All balances due to the school resulting from other obligations will be deducted from
the amount to be returned to the student.
Fees paid under mistake of law or fact are returnable in full. Any appeals to the refund policy shouldbe referred to the Bursar's Office.