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Refund Policy/Return Of Title IV Funds

Overview. The federal government implemented a new refund policy in October 2000 stipulating how institutions will refund Federal Title IV Aid when a student completely withdraws or is dismissed from school. Ashland University has chosen to apply the same policy to all students whether or not a student is receiving Title IV, state, or institutional aid during the term of withdrawal.

Institutional Refund/Return of Title IV Funds Policy
This policy applies to students who withdraw or are dismissed and refunds for these students are determined according to the following:

• Title IV Funds refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs: Unsubsidized Federal Stafford Loan, Subsidized Federal Stafford Loan, Federal Perkins Loan, Federal PLUS Loan, Federal Pell Grant, Federal Academic Competitiveness Grant, Federal SMART Grant, Federal Supplemental Educational Opportunity Grant and Federal TEACH Grant.

• Withdrawal: defined as a student who is enrolled at the beginning of a term and then withdraws from all classes for the term. This refund policy applies to students in this situation.

• Drop of Classes: defined as a student who is enrolled at the beginning of a term and then drops a class (or classes) but is still enrolled for one or more classes in the term. This refund policy does not apply to students in this situation.

• Withdrawal procedures: Students who choose to withdraw from the University should go through the official withdrawal process. This includes contacting the
  • Registrar’s Office to complete the AU Withdrawal Request and Information Form. To obtain the form, contact x5028
  • Counseling Services x5065
  • Residence Life (x5303), if living on campus
  • Auxiliary Services (x5758), if on a meal plan
  • EagleCard Office (x5076)

 

• A student’s withdrawal date is:

• the date the student began AU’s official withdrawal process or officially notified AU of intent to withdraw; or
• the midpoint of the period for a student who leaves without notifying AU; or
• the student’s last date of attendance at a documented academically-related activity.

 

• Students who are granted a leave of absence are treated in the same manner as students who withdraw from AU.

• Refunds on all charges including tuition, room and board, and special fees will be prorated on a per-day basis up to the 60% point in the term. There are no refunds after the 60% point in the term. A copy of the worksheet used for this calculation can be requested from the AU Financial Aid Office.
• Title IV, state and institutional aid is earned in a prorated manner on a per-day basis up to the 60% point in the term. Title IV, state, and institutional aid is viewed as being 100% earned after the 60% point in the term.
• A refund, if there is one, and an adjusted bill will be sent to the student’s home address following withdrawal.
• There are no refunds for courses for which a grade of “I” (incomplete) or “IP” (in progress) is received.

 

• In accordance with federal regulations, when financial aid is involved, unearned federal funds are returned in the following order:

• Unsubsidized Federal Stafford Loan
• Subsidized Federal Stafford Loan
• Perkins Loan
• Parent  or Graduate PLUS Loan
• Pell Grant
• Academic Competitiveness Grant
• SMART Grant
• Supplemental Opportunity Grant
• TEACH Grant

 

• Ashland University uses the Federal Title IV Software to determine refunds, post-withdrawal disbursements and over-awards.

• Ashland University’s responsibilities in regard to the return of Title IV funds include:
• providing each student with the information given in this policy;
• identifying students who are affected by this policy and completing the Return of Title IV funds calculation for those students; and
• returning any Title IV funds that are due the Title IV programs.

 

• The student’s responsibilities (or parent's) in regard to the return of Title IV funds include:

• repaying any loan funds that were disbursed directly to the student (or parent for a PLUS Loan) in accordance with the terms of the promissory note.

 

• Appeal Process: In the event that a student has an issue with the billing or financial aid portion of this policy, he/she may write a letter of appeal c/o Comptroller (billing) or Director of Financial Aid, Ashland University, 401 College Avenue, Ashland, OH 44805.

401 College Avenue • Ashland, OH 44805 • (419)289-4142 (800)882-1548