Sam Houston State University
A Member of the Texas State University System
STUDENT FINANCIAL AID

Return of Title IV Funds Policy
For Financial Aid Students: Who Withdraw or Drop All Courses

New federal regulations went into effect beginning with the Fall 2000 semester.It's important for students who receive Title IV financial aid and withdraw or drop all courses during the term be aware of these changes and to understand the impact they will have on the aid released and their continued eligibility to receive future financial aid.

The Federal Refund and Repayment calculation must be performed for students receiving Title IV aid (Pell, FSEOG, and Stafford Loans) who officially and unofficially withdraw from all courses, drop out of all courses, or expelled from the University prior to the 60% point of the term. All unearned aid, as determined by the Federal Return of Title IV Unearned Aid calculation, must be returned to the federal aid programs.

Title IV aid recipients must be continuously enrolled for at least 60% of the term for which aid is disbursed in order to retain all of the financial aid issued in each term. After the 60% point students are considered to have earned 100% of the Title IV funds disbursed for the term. Therefore, it is in the best interest of aid recipients to maintain attendance and complete at least one class each term that they receive federal aid to avoid repayment of funds. (Different requirements apply to maintain Financial Aid Reasonable Academic Progress.)

How the calculation works:

  1. Number of days attended / days in semester (excluding breaks) = % of semester completed
  2. Total money disbursed X  % of semester completed = earned money
  3. Total money disbursed - earned money = amount to be returned

Once it is determined that a recipient owes money back to any of the federal aid program(s), they will be ineligible to receive further federal aid until this debt is cleared.

Funds must be returned in the following order:

  1. Unsubsidized FFEL Stafford Loan
  2. Subsidized FFEL Stafford Loan
  3. Perkins Loan
  4. FFEL PLUS Loan (Parent loan for dependent students)
  5. FFEL PLUS Loan (Graduate students)
  6. Pell Grant
  7. Academic Competitiveness Grant (ACG)
  8. National SMART Grant
  9. FSEOG Grant
  10. Other Title IV Monies

 

SHSU Financial Aid Office
1903 University, Estill 201
Box 2328
Huntsville TX 77341-2328
TEL: (936) 294-1774
FAX: (936) 294-3668
Toll Free: (866)BEARKAT
Financial Aid Questions: ww2.shsu.edu

 

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