Title IV Refunds/Returns

Financial Aid

Federal Title IV financial aid is provided to assist students to pay for part or all of the expenses related to their attendance at the University. The federal refund policy is applicable to students receiving federal aid who withdraws completely on or before 60% of time has elapsed during the period of enrollment for which the student has been charged.

To determine the amount of Title IV aid for which the student is eligible, RU will use the student’s withdrawal date, the amount of aid the student was originally offered, the number of days that comprise the payment period, and the number of days the student completed in the payment period. The calculation will be performed using the number of days completed divided by the number of days comprising the payment period to determine the percentage earned. The percentage earned, subtracted from 100 percent will be the percentage of unearned aid that must be returned to the Title IV programs.

The amount of unearned aid will be returned to the Title IV programs in the following order:
FFELP loans (subsidized and unsubsidized Stafford), Federal PLUS, Federal Pell Grant, Federal SEOG, and other Title IV Programs.

Once Title IV funds are returned, the student may owe a debit balance to the university. Examples of the policy are available in the Office of Financial Aid.

Withdrawing from classes not only results in adjustment of current aid but will also impact a student’s eligibility for future aid (see Satisfactory Academic Progress Policy).