RETURN OF TITLE IV FUNDS DUE TO STUDENT WITHDRAWAL POLICY


Any financial aid recipient who withdraws from Bethune-Cookman University prior to the scheduled end of an academic semester will involve the following departments:

  1. Academic Advisor
  2. Office of Student Financial Aid
  3. Student Accounts Office
  4. Student Affairs Office
  5. Office of Academic Affairs
  6. Registrar’s office

The Student Accounts Office will review the accounts of students who officially withdraw to determine if they are due an adjustment of tuition, fees, room and board charges.

Financial aid recipients will also have their awards adjusted based on the number of days of attendance. This is due to federal regulations that govern the Return of Title IV funds due to withdrawal. Title IV programs are funded by the federal government.

To comply with the regulations, the Office of Student Financial Aid must calculate the percentage of financial aid “earned” based on the date of withdrawal. The unearned portion must be returned to the appropriate aid programs. The RETURN OF FUNDS POLICY will have the following steps:

  1. Determination of Withdrawal Date: For students who officially withdraw, a Withdrawal Form is obtained by the student from the Office of Student Financial Aid. This office will indicate on the form the date of withdrawal. This form is then taken to the Students Accounts office; to Student Affairs; to Academic Affairs and Registrar’s Office.
    • For students who unofficially withdrew, the withdrawal date will be the midpoint of the semester since the university is not required to take attendance by an outside entity.
  2. Determination of percentage of aid earned: The withdrawal date is used by the Office of Student financial Aid to determine the percentage of the semester completed by the student. The percentage of Title IV aid earned is equal to the percentage of the semester completed by the student.
    • If the withdrawal date occurs before the student completes 60% of the semester, then the percentage earned is equal to the percentage of the semester that was completed. If the withdrawal date occurs after the student has completed more than 60% of the semester, then the student has earned all Title IV aid for the semester.
  3. Determine the amount of aid earned: The amount of Title IV aid earned by the student is determined by multiplying the percentage of Title IV aid earned by the total of Title IV program aid disbursed plus the Title IV aid that could have been disbursed to the student or on the student’s behalf. Federal Work-Study funds are not included in the calculation. The Office of Student Financial Aid will use software provided by the Department of Education to make the necessary calculations.
  4. Determine the amount of aid unearned to be returned: If the student receives less Federal Student Aid than the amount earned, then the school can disburse the earned aid that was not received providing the eligibility criteria have been met.
    • If the student receives more Federal Student Aid than the amount earned, then the school and the student will return the unearned funds in the following order up to the net amount disbursed from each source:
      1. Unsubsidized Federal Stafford Loans
      2. Subsidized Federal Stafford Loans
      3. Unsubsidized Direct Stafford Loans
      4. Subsidized Direct Stafford Loans
      5. Federal PLUS Loans
      6. Direct PLUS Loans
      7. Federal PELL Grant
      8. Academic Competitiveness Grants
      9. National Smart Grants
      10. Federal Supplemental Educational Opportunity Grants

For additional withdrawal information please visit the Registrar's Withdrawal Page and the Bursar Office's Withdrawal Page.