Treatment of Title IV Aid When a Student Withdraws

Full-time status is determined at the end of the first week of classes on the date indicated in the calendar as the last date to add classes. A full-time student who drops below 12 credits after this date will continue to be billed at full-time rates unless the student withdraws from the University.

To begin the withdrawal process the student must fill out the withdrawal form. This form may be obtained from the Office of Student Success, located in Voorhees. This form must be returned to the Office of Student Success so that the University can calculate the refund, if any, of institutional charges and determine the amount of aid that may need to be refunded to the various sources.

A student who withdraws from the university may be eligible for a refund. The amount of the refund is determined by the charges on the student's account and is calculated using 2 formulas:

  1. Tuition and Fees: determined by the Carroll University refund policy
  2. Federal financial aid returned: determined by the federal "return of Title IV aid" formula from the 1998 Reauthorization of the Higher Education Act.

The actual refund is calculated based on factors such as date of withdrawal, housing/food service charges and other misc. charges such as library fines. A work sheet is available in the Business Office for students who would like to estimate their withdrawal refund.

A student who withdraws may be responsible for tuition, fees or other charges that had previously been paid by federal student aid. Refunds may be available for students with Title IV federal aid who withdraw from the University.

Students with federal aid who withdraw from the University will have their Title IV aid recalculated in accordance with guidelines established by the U.S. Department of Education derived from the October 7, 1998, Reauthorization of the Higher Education Act.

The federal formula provides a return of the Title IV aid if the student received federal financial assistance in the form of a Pell Grant, Supplemental Education Opportunity Grant, TEACH Grant, Iraq Afghanistan Service Grant, Perkins Loan, Subsidized and Unsubsidized Stafford Loans or PLUS Loans and withdraws on or before completing 60% of the semester. The percentage of Title IV aid earned is equal to the number of calendar days completed in the semester divided by the number of calendar days in the semester. Scheduled breaks of five or more days are excluded.

Pro-rated Title IV federal aid is returned to the respective federal programs in the following order:

  1. Federal Unsubsidized Stafford Loan Program
  2. Federal Subsidized Stafford Loan Program
  3. Federal Perkins Loan Program
  4. Federal PLUS Loan Program
  5. Federal Pell Grant Program
  6. Federal SEOG Program
  7. TEACH Grant Program
  8. Iraq Afghanistan Service Grant
  9. Any other assistance awarded to the student under programs authorized by Title IV HEA

For purposes of repayment, if funds are released to a student because of a credit balance on the student’s account, then the student may be required to repay some of the federal grants released to the student. Until the repayment is resolved, the student is ineligible for further Title IV assistance. These refund policies are based upon the rules and regulations of the U.S. Department of Education and are subject to change. Worksheets used to determine the amount of refund or return of Title IV aid are available upon request at the Carroll University Business Office.

Students who withdraw and have Carroll aid and/or aid other than Title IV will earn this aid according to the following schedule:

Fall 2017

Percent of Refund
Withdraw on or before
Percent of Refund:0%
Withdraw on or before:Wednesday, September 6, 2017
Percent of Refund:20%
Withdraw on or before:Monday, September 18, 2017
Percent of Refund:40%
Withdraw on or before:Monday, September 25, 2017
Percent of Refund:60%
Withdraw on or before:Monday, October 2, 2017
Percent of Refund:80%
Withdraw on or before:Monday, October 9, 2017
Percent of Refund:100%
Withdraw on or before:Tuesday, October 10, 2017 (on or after)

Spring 2018

Percent of Refund
Withdraw on or before
Percent of Refund:0%
Withdraw on or before:Sunday January 21, 2018
Percent of Refund:20%
Withdraw on or before:Monday, February 5, 2018
Percent of Refund:40%
Withdraw on or before:Monday, February 12, 2018
Percent of Refund:60%
Withdraw on or before:Monday, February 19, 2018
Percent of Refund:80%
Withdraw on or before:Monday, February 26, 2018
Percent of Refund:100%
Withdraw on or before:Tuesday, February 27, 2018 (on or after)

Specially Timed Courses

Students who withdraw from specially timed courses for the Fall 17 or Spring 18 semester and have Carroll aid and/or aid other than Title IV will earn this aid according to the followig schedule

Percent of Refund
Deadline
Percent of Refund:0%
Deadline:Withdraw before the first day of class
Percent of Refund:25%
Deadline:Withdraw before the second day of class
Percent of Refund:75%
Deadline:Withdraw before the third day of class
Percent of Refund:100%
Deadline:Withdraw the third day of class or after
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