Treatment of Title IV Aid When a Student Withdraws | Business Office
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.
A student withdrawing from the university should complete the official withdrawal form with the Office of Student Success. This form must be returned 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.
If a recipient of Title IV aid unofficially withdraws from all classes without following the proper withdrawal procedure, Carroll University is required to determine the student’s last date of academically related activity to calculate whether a portion of the student’s federal financial aid must be returned to the federal government. The Financial Aid Office will use the last date of attendance reported by the professor(s) or will contact the student’s professor(s) to determine the last date a student completed any academically related activity.
A student who withdraws from the university may be eligible for a refund. The amount of the refund is determined by the student’s withdrawal date and the charges on the student's account. The refund is calculated using 2 formulas; Carroll University’s refund policy, and the Federal/State refund policy.
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. "A school must return the amount of Title IV funds for which it is responsible as soon as possible but no later than 45 days after it determines or should have determined that the student withdrew".
If a student withdraws after his/her aid was awarded, but prior to all aid having been disbursed, the unpaid aid will be included in the federal formula as aid that ‘could have been disbursed’. If the refund calculation indicates that the student is still eligible for the undisbursed aid, the aid will be offered to the student via a post withdrawal disbursement, which will be sent to the student in a written statement.
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:
- Federal Unsubsidized Stafford Loan Program
- Federal Subsidized Stafford Loan Program
- Federal Perkins Loan Program
- Federal PLUS Loan Program
- Federal Pell Grant Program
- Federal SEOG Program
- TEACH Grant Program
- Iraq Afghanistan Service Grant
- 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 Financial Aid Office.
Students who withdraw and have Carroll aid and/or aid other than Title IV will earn this aid according to the following schedule:
Withdraw on or before
Withdraw on or before:Wednesday, September 4, 2019
Withdraw on or before:Monday, September 16, 2019
Withdraw on or before:Monday, September 23, 2019
Withdraw on or before:Monday, September 30, 2019
Withdraw on or before:Monday, October 7, 2019
Withdraw on or before:Tuesday, October 8, 2018 (on or after)
Withdraw on or before
Withdraw on or before:Monday, January 20, 2020
Withdraw on or before:Monday, February 3, 2020
Withdraw on or before:Monday, February 10, 2020
Withdraw on or before:Monday, February 17, 2020
Withdraw on or before:Monday, February 24, 2020
Withdraw on or before:Tuesday, February 25, 2020 (on or after)
Specially Timed Courses
Students who withdraw from specially timed courses for the Fall 19 or Spring 20 semester and have Carroll aid and/or aid other than Title IV will earn this aid according to the following schedule:
Deadline:Withdraw before the first day of class
Deadline:Withdraw before the second day of class
Deadline:Withdraw before the third day of class
Deadline:Withdraw the third day of class or after
A student withdrew 15 calendar days into a 105-calendar day term (number of days in a term may vary). Charges of $5,000 were paid as follows: $1,200 Federal Direct Loan, $1,100 Federal Pell Grant, and $2,700 Carroll University scholarship.
In this example, under the federal return of Title IV policy, $1,200 would be returned to the Federal Direct Loan Program and $771 would be returned to the Federal Pell Grant Program. Under Carroll University's refund policy, based on the day of withdrawal, (60 percent = $3,000 tuition refund), $1,620.00 would be returned to the Carroll University scholarship fund.