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.
Appears in 7 contracts
Samples: Enrollment Agreement, Enrollment Agreement, Enrollment Agreement
