Return of Title IV Calculation
Withdrawing, Failing, Not Attending, and Repeating Courses
Federal regulations require schools to determine the earned and unearned portions of federal aid as of the date the student ceased attendance. Attendance is based on the amount of time student has attended classes during each semester.
Up through the 60% point in each semester, a pro-rata schedule is used to determine the amount of Federal aid the student has earned at the time of withdrawal. After the 60% point in the semester, a student has earned 100% of the federal aid awarded.
For a student who withdraws after the 60% point-in-time, there is no unearned aid. However, a school must still determine the student’s eligibility for a post-withdrawal disbursement. Georgia Southwestern ‘GSW’ must comply with refund policies required by a state or other outside agencies. If a federal financial aid recipient of grant or loan funds withdraws (officially – 100% withdrawn or unofficially 100% failure), from a school after beginning attendance, the amount of federal aid (grant or loan) earned by the student must be determined. This is applicable if the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned or if the amount disbursed to the student is less than the amount the student earned, and he or she is eligible for a post-withdrawal disbursement of the earned aid.
Although an institutional, state, or agency refund policy will determine the charges a student will owe after withdrawing, those policies will not affect the amount of federal aid the student has earned.
Federal aid is awarded to a student under the assumption that the student will attend school for the entire semester for which the assistance is awarded. When a student withdraws, the student may no longer be eligible.
GSW has a procedure for determining whether a federal recipient began attendance. If a student earns a passing grade in one or more of his or her classes in a semester GSW presumes that the student completed the course and thus completed the semester.
If a student begins attendance, does not officially withdraw, but fails to earn a passing grade in at least one course offered over an entire semester, GSW for federal financial aid purposes must assume that the student has unofficially withdrawn. In such case, GSW may rely on the instructors reported last date of attendance during the specific semester. If one instructor reports that the student attended past the 60% point of the semester, then the student is not a withdrawal. If the school has confirmation at the time of withdrawal that the student will attend a future part of term in the same payment period the student is not a withdrawal.
If a ‘Return of Title IV’ calculation is required GSW will use the institution’s reported last date of attendance when returning federal financial aid on the student’s behalf. The student who is reported as not attending class, will require a financial aid adjustment, and the student is then liable for any balance.
Repeating Classes: Students may retake a course already passed, only once (and receive federal financial aid). Federal financial aid will not pay for any course taken more than twice. This rule applies whether or not the student received aid for the earlier enrollment in the course and regardless of the minimum grade. Since a ‘D’ is a passing grade in the academic catalog, it is considered passing for federal financial aid purposes.