Policies - Return of Title IV Funds Refund Policy

Treatment of Title IV Funds When a Student Withdraws

When a recipient of Title IV grant or loan assistance withdraws from an institution during the semester in which the recipient began attendance, the institution must determine the amount of the Title IV grant or loan assistance (not including Federal Work Study) that the student earned as of the student's withdrawal date. Unearned Title IV funds must be returned to the Title IV Programs.

The return of Title IV Funds/Institutional Refund Policy

This policy applies to students who withdraw or are expelled or leave without notice, and refunds for these students are determined according to the following policy:

The term "Title IV Funds" refers to the Federal Financial Aid Programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs: Unsubsidized FFEL loans, Subsidized FFEL loans, Unsubsidized Federal Direct Stafford Loans, Subsidized Federal Direct Stafford Loans, Federal Perkins Loans, FFEL PLUS Loans, Federal Direct PLUS Loans, Federal Pell Grants, Federal SEOG.

A student's withdrawal date is:

The date the student began the institution's withdrawal process (as described in the EKU catalog) or officially notified the institution of intent to withdraw; or
The midpoint of the period for a student who leaves without notifying the institution; or
The student's last date of attendance at a documented academically related activity.

Title IV aid is earned in a prorated manner on a per diem basis up to the 60% point in the semester. Title IV aid is viewed as 100% earned after that point in time. A copy of the worksheet used for this calculation can be requested from the Division of Student Financial Assistance.

Registration Fee Refunds.
In accordance with federal regulations, when financial aid is involved, refunds are allocated in the following order:

Unsubsidized FFEL Loans
Subsidized FFEL loans
Federal Perkins Loans
FFEL PLUS Loans
Federal Pell Grants
Federal SEOG
Other Title IV Assistance
Other Federal Sources of aid
Other State, Private and Institutional Aid
Student
Institutional and student responsibilities in regard to the return of Title IV funds.
1. Eastern Kentucky University's responsibility in regard to the Return of Title IV funds include:
  
  Providing each student with information given in this policy;
  
  Identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for those students;
  
  Returning any Title IV funds that are due the Title IV programs.
2. The student's responsibilities in regard to the Return of Title IV Funds include:
  
  Returning to the Title IV programs any funds that were disbursed directly to the student and which the student was determined to be ineligible for via the Return of Title IV funds calculation.

The fees, procedures and policies listed above supersede those published previously and are subject to change at any time.

If you believe that your individual circumstances warrant that your charges or refund should be determined in a manner other than the published policy, contact the Division of Student Financial Assistance at 859-622-2361.