Return of Title IV Funds When a student recipient of federal Title IV financial aid officially withdraws from a semester or unofficially withdraws by ceasing to attend, federal regulations require a Return of Title IV Funds calculation to determine if any federal Title IV aid must be repaid. Federal Title IV aid includes Pell Grants, Federal Supplemental Educational Opportunity Grants, Stafford Loans, Perkins Loans, and PLUS loans (parents or graduate students).
Repayment Calculation The amount of federal Title IV aid to be repaid is calculated based on the percentage of time completed within a semester, which involves calculating the amount of Title IV aid earned by the student, and the amount of institutional charges for that semester. Prior to withdrawing for the semester, you are encouraged to contact us.
When unearned federal Title IV funds are repaid, they are returned by program and up to the disbursed amount for each program. Unearned federal Title IV grant funds are returned prior to loan funds in the following order – Stafford Unsubsidized Loans, Stafford Subsidized Loans, Perkins Loans, PLUS loans (parent or graduate student), Pell Grants, and Supplemental Educational Opportunity Grants.
You will be notified by mail no later than 45 days of the determination that you withdrew during the semester. In the case of a parent PLUS loan, notification regarding the parent PLUS loan will be sent to the parent PLUS loan borrower. Your notification will provide detailed information on the federal Title IV funds and the amount of these funds to be repaid by the student and/or parent. If the notification to the student and/or parent includes eligibility for a post-withdrawal disbursement, the student and/or parent has fourteen (14) days to respond to accept or decline. The return of these funds typically results in charges becoming due which previously were paid by the aid we are required to return. Current information on your financial aid award status and bursar account status is available via your OneStart account.
Frank O’Bannon and 21st Century Scholars Awards:
When a student officially withdraws from a semester or drops below full-time enrollment (12 semester hours) before the state census date (end of the 25% refund period or 28th day of the term); state regulations require the cancellation of O’Bannon and 21st Century Scholars awards. This cancellation results in the removal of the financial aid credits from the student’s bursar account and the additional charges are the responsibility of the student to repay. If your state aid is cancelled, you will receive a Financial Aid Notification (FAN) at your IUPUI (or IUPUC) e-mail address with an update and a referral to visit OneStart to view your financial aid award status and bursar account status. FAN notifications are sent weekly.
Satisfactory Academic Progress:
Withdrawal from the semester after the IUPUI or IUPUC official census date may impact future eligibility for federal or state financial aid due to Satisfactory Academic Progress. Future satisfactory academic progress monitoring will include any courses dropped after the official census date as attempted but not completed hours.
317-274-5555 420 University Blvd. Indianapolis, IN 46202 AskIU@iu.edu