Chatham University

Return of Title IV Funds

The Return of Title IV Funds Calculation is applied for all students who received Federal Financial Aid and have completely withdrawn from the University. Withdrawal date is defined as the date the student begins the withdrawal process, or officially notifies the University of intent to withdraw, or the midpoint of the term for a student who leaves without notification to the University. Under these rules, the following guidelines have been established:

The United States Department of Education requires the University to determine the amount of Title IV (Federal aid) earned by a student who withdraws (officially or unofficially) or fails to complete the payment period (semester or module). The University must determine the earned and unearned portions of Title IV aid as of the date the student ceased attendance based on the period of time in which the student was enrolled during the semester. We are required to perform a Return of Title IV Funds calculation for students who withdraw (officially or unofficially) from all classes, or receive failing grades in all courses in a semester. The calculation required determines a student's earned and unearned Title IV aid based on the percentage of the payment period completed by the student. The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the payment period. Calendar days (including weekends) are used, but breaks of at least 5 days are excluded from both the numerator and denominator. Until a student has passed the 60% point of an enrollment period, only a portion of the student's aid has been earned. A student who remains enrolled beyond the 60% point is considered to have earned all awarded aid for the payment period. Please note students who are enrolled in modules, or courses which do not span the entire length semester, would also be included in this calculation.

The withdrawal date is used to determine the point in time in that the student is considered to have withdrawn so the percentage of the payment period completed by the student can be determined. The percentage of Title IV earned is equal to the percentage of the payment period completed.

The calculation required determines a student's earned and unearned Title IV aid based on the percentage of the payment period completed by the student. The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the payment period. Calendar days (including weekends) are used, but breaks of at least 5 days are excluded from both the numerator and denominator.

Until a student has passed the 60% point of an enrollment period, only a portion of the student's aid has been earned. A student who remains enrolled beyond the 60% point is considered to have earned all awarded aid for the payment period. Please note students who are enrolled in modules, or courses which do not span the entire length semester, would also be included in this calculation.

The following earned Federal aid is included in a Return of Title IV Funds Calculation if disbursed or could have been disbursed to the student for the payment period in which the Return calculation is being performed:

The unearned portion of Federal student aid funds will be returned to the appropriate aid program(s), within 45 days from the date of determination that a student withdrew. The funds are returned in the following order as prescribed by federal regulations:

When aid is returned, the student may owe a balance to the University. The Office of Student Accounts will invoice the student for any amounts owed. Students are responsible for any portion of their institutional charges that are left outstanding after federal funds are returned.