RETURN OF TITLE IV FUNDS POLICY Sample Clauses

RETURN OF TITLE IV FUNDS POLICY. The federal formula requires a return of any unearned Title IV aid if the student received federal financial assistance in the form of a Pell Grant, Federal Subsidized Xxxxxxxx Loan, Federal Unsubsidized Xxxxxxxx Loan, or Federal PLUS loan and withdrew on or before completing 60% (528 hrs) of the total clock hours. The percentage of Title IV aid to be returned is equal to the number of clock hours remaining in the course divided by the number of total clock hours in the course. Excused absences do not count as completed hours. IMPORTANT NOTICE TO ALL FEDERAL FINANCIAL AID RECIPIENTS Federal Financial Aid regulations have defined that a student who withdraws or stops attending prior to completing 60% (528 hrs) of the entire course (880 hrs) has not earned 100% of the federal financial aid that was received. That student may be required to return a portion of his or her federal aid. APPLICATION OF REFUND POLICY Any refunds due the applicant shall be made within thirty days from cancellation or failure to appear on or before the first day of class. Any refunds due the student shall be made within thirty (30) days from the last date of student attendance. If the student does not return following a Leave of Absence period (not to exceed 60 calendar days), refunds will be made within (30) thirty calendar days from the end of the Leave of Absence.
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RETURN OF TITLE IV FUNDS POLICY. Argosy University is required to use the Department of Education’s Return of Title IV Funds formula for all students who received Federal Title IV Aid. A calculation will be completed for all students who withdraw from the institution up through 60 percent of the enrollment period to determine the percentage of aid earned by a Title IV recipient based on the percentage of the period that the student completed. The amount of earned aid will be determined by applying the earned percentage to the total Title IV aid that was, or could have been, disbursed to the student. The institution then follows procedures to determine if disbursed aid exceeds earned aid, or if earned aid exceeds disbursed aid. Upon completion of the calculation, the institution will (where applicable): • Return its share of unearned Title IV funds • Notify the student of any Title IV grant overpayment due from the student, or • Offer any post withdrawal disbursement not credited to the student’s account Returns will be made to the federal funds in the following order:
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Related to RETURN OF TITLE IV FUNDS POLICY

  • Retention of Title Supplied Goods shall remain Seller’s property until fulfillment by Customer of its payment obligations as described above. As such:

  • Deposit Accounts Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement.

  • Xxxxxxx Money Deposit (a) Within three (3) Business Days after the full execution and delivery of this Contract, Buyer shall deposit the sum of Three Hundred Thousand and No/100 Dollars ($300,000.00) in cash, certified bank check or by wire transfer of immediately available funds (the “Initial Deposit”) with the Title Company, as escrow agent (“Escrow Agent”), which sum shall be held by Escrow Agent as xxxxxxx money. If, pursuant to the provisions of Section 3.1 of this Contract, Buyer elects to terminate this Contract at any time prior to the expiration of the Review Period, then the Escrow Agent shall return the Xxxxxxx Money Deposit to Buyer promptly upon written notice to that effect from Buyer. If Buyer does not elect to terminate this Contract on or before the expiration of the Review Period, Buyer shall, prior to the expiration of the Review Period, deposit the Additional Deposit with the Escrow Agent. The Initial Deposit and the Additional Deposit, and all interest accrued thereon, shall hereinafter be referred to as the “Xxxxxxx Money Deposit.”

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Condition of Title 5.1 If, prior to Closing (as hereinafter defined), a date-down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, do not exceed $25,000 (each, a "Minor Unpermitted Exception"), Seller shall, at Seller's expense, bond over, cure and/or have such Minor Unpermitted Exceptions removed from the Title Commitment or have the Title Insurer commit to insure against loss or damage that may be occasioned by such Minor Unpermitted Exceptions. Notwithstanding the foregoing, if such date down to the Title Commitment discloses any new Unpermitted Exceptions which, in the aggregate, equal or exceed $25,000, Seller shall have the right, but not the obligation, to bond over, cure and/or have such exceptions removed from the Title Commitment or to have the Title Insurer commit to insure against loss or damage that may be occasioned by such Unpermitted Exceptions. If Seller fails to bond over, cure or have any Unpermitted Exception removed or have the Title Insurer commit to insure as specified above within five (5) business days from the date of the date down to the Title Commitment, Purchaser may terminate this Agreement upon written notice to Seller within three (3) days after the expiration of such five (5) business day period; provided, however, and notwithstanding anything contained herein to the contrary, if the Unpermitted Exception which gives rise to Purchaser's right to terminate was recorded against the Property as a result of the affirmative action of Seller (and not by any unrelated third party) or if Seller is able to bond over, cure or remove a Minor Unpermitted Exception for a cost not to exceed $25,000 or the Title Insurer is willing to insure over a Minor Unpermitted Exception for a cost not to exceed $25,000 in accordance with the terms hereof and Seller fails to expend such funds in either case, then Purchaser shall have the additional rights contained in Paragraph 14 herein. Absent notice from Purchaser to Seller in accordance with the preceding sentence, Purchaser shall be deemed to have elected to take title subject to said Unpermitted Exception, without any reduction in or setoff against the Purchase Price as a result thereof. If Purchaser terminates this Agreement in accordance with the terms of this Paragraph 5.1, this Agreement shall terminate without further action of the parties and all Earnest Money theretofore deposixxx xxxo the escrow by Purchaser, together with any interest accrued thereon, shall be returned to Purchaser, and neither party shall have any further liability to the other, except for those covenants and obligations that specifically survive termination of this Agreement.

  • Evidence of Title Evidence that title to a REO is held by the Trustee shall be submitted by the Servicer to the Master Servicer and, if applicable, to the Primary Mortgage Insurer and/or the Pool Insurer, within ten Business Days after marketable title to such REO has been acquired.

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