- Title IV funds
- Title IV-funded living expenses
- Non-Title IV funds (state assistance, outside scholarships, and University-appropriated grants)
Title IV Funds
The percentage of Title IV funds you can keep depends on the percentage of time you were enrolled during the quarter:
- If less than or equal to 60% of the quarter had elapsed before your withdrawal, you may keep the percent of the funds equal to the percent of the quarter that had elapsed. (Ex. If 50% of the quarter had elapsed, you may keep 50% of the funds)
- If more than 60% of the quarter had elapsed before your withdrawal, you may keep all of the funds.
According to federal regulations, a school must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment
as applicable, in the following order:
- Unsubsidized Federal Stafford loan
- Subsidized Federal Stafford loan
- Federal Perkins loan
- Federal PLUS loan
- Federal Pell Grant
- Academic Competetiveness Grant (ACG)
- National Smart Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
Title IV-Funded Living Expenses
You may be required to repay some of the Title IV financial aid that was given directly to you as a cash disbursement (excluding federal work-study) to cover living expenses. Living expenses are defined as your educational costs above and beyond the amount the University charges for tuition and fees. Living expenses include estimated costs for (non-University contracted) room and board, books, supplies, transportation, and personal expenses.
Until the repayment is collected in full, you will be ineligible for further Title IV funds and will be reported on subsequent financial aid transcripts received by the Office of Financial Aid as owing a repayment.
Non-Title IV Grant and Scholarship Aid
If the amount of non-Title IV funds you received exceeds any unpaid University charges, you may be required to return the remaining portion. If any funds remain after all necessary adjustments have been made, you may keep them; if a balance is due on your tuition account, you must make the appropriate payments.
Any University-appropriated fund that you keep and use for unpaid institutional charges can be counted toward your 12 quarters of institutional grant eligibility. Any federal or state assistance retained can be counted toward your 15 quarters of eligibility.