The amount of Title IV aid earned and the amount disbursed are compared. If less aid was disbursed than was earned, the student may receive a late disbursement for the difference. If more aid was disbursed than earned, the amount of Title IV aid that must be returned is determined by subtracting the amount earned from the amount actually disbursed. Responsibility for returning unearned aid is allocated between the school and the student according to the portion of disbursed aid that could have been used to cover institutional charges and the portion that could have been disbursed directly to the student once institutional charges were covered. Further details and examples can be obtained from the Financial Aid Office.
Refunds apply to the academic year of withdrawal only.
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