Return of Title IV
If you withdraw on or before the 60% point in time of the semester, which is calculated using calendar days, a portion of the total Title IV funds awarded must be returned, according to the provisions of the Higher Education Amendments of 1998. The calculation of the return of these funds may result in the student owing a balance to the College and/or the Federal Government.
This calculated amount will be returned to the Title IV Programs in the following order:
- Direct PLUS Loan
- Direct UnSubsidized loans
- Direct Subsidized loans
- Federal Pell Grants
- Federal SEOG
- Other grants or loan assistance authorized by Title IV of the HEA
Things you should consider before withdrawing from one or more of your courses:
- If your last date of attendance is on or before the 60% point in the semester, you may owe funds back to your federal financial aid program/s if you withdraw from all of your courses.
- If your aid has not been disbursed when a withdrawal occurs, you may lose eligibility for all or some of your financial aid program(s) if you are no longer enrolled in the minimum required credit hours for the program(s).
- Additionally, students who repeatedly withdraw from all classes may loss eligibility for aid due to not meeting the Standards of Satisfactory Academic Progress.
Questions to ask:
- Will I meet the Standards of Satisfactory Academic Progress if this withdrawal is approved? If not, what do I do?
- Will I meet specific renewal requirements for specific programs for the next year?
Federal law requires that Bloomfield College evaluate federal aid recipients who fail to earn any credit during a semester, in order to determine if the student stopped attending classes on or before the 60% point in the semester. Professors are required to provide attendance information for all students who receive a F or WF.
Students who are reported to have stopped attending all of their classes prior to the 60% point of the semester will be identified as students who “unofficially withdrew” from classes. A calculation of the return of federal aid will be done as described under the Withdrawal section above, which may result in the student owing funds back to the college.
*** If you withdraw or stop attending the college at any time while receiving Institutional Need, or Merit funding it may be prorated or cancelled for that term along with other Federal or State funding awarded***