Financial Aid Return of Title IV Funds Policy

Responsible Unit: Enrollment Services | Executive lead: Provost 
Created: 2/22/2019 | Reviewed/Revised: 2/1/2023 | Effective: 3/14/2023 
Compliance: HEA, Section 484B 34 CFR 668.22, CODA 4-9, NWCCU 2.E.1, 2.E.2, 2.G.2, 2.G.4, 2.G.5 
Approving Body: PPC | Classification: Institution-wide 


Policy:  
PNWU will determine the earned and unearned portions of Title IV aid based on the amount of time the student spent in attendance until the date the student ceased attendance.  Up through the 60% point in each period of enrollment, a pro rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal or dismissal. If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned to the U.S. Department of Education. 

After the 60% point in the period of enrollment, a student has earned 100% of the Title IV funds the student was scheduled to receive during the period. If not all federal funds have been disbursed at the time of the student’s withdrawal or dismissal, PNWU will determine whether the student is eligible for a post-withdrawal disbursement and the student will be contacted. 

Definitions: 
Withdrawal – ceases attendance prior to the end of the term 

Not Withdrawn – A student who completes all the requirements for graduation for their program before completing the days in the payment period that they were schedule to complete is not considered to have withdrawn.  

Title IV Funds – Federal Direct Unsubsidized Stafford Loan, Federal Direct Graduate PLUS Loan for Students

Period of enrollment – academic term (e.g., semester) 

Withdrawal date – The earliest of the last date of attendance at an academically-related activity, or the date the student began the withdrawal process, in writing or orally, of the intent to withdraw.  

Procedures: 
N/A 

Related documents: 
Student Withdrawal Policy