Return of Title IV Funds
Title IV funds are awarded to students under the assumption that students will complete the periods for which the Federal Student Aid is awarded. When students receiving Title IV Federal Student Aid are considered withdrawn for Title IV purposes, reviews of eligibility are conducted to determine earned and unearned portions of Title IV aid.Students are considered withdrawn if they are administratively withdrawn, academically dismissed, judicially dismissed, or officially withdrawn.
For Federal Student Aid purposes, students will be considered withdrawn from payment periods if the students do not complete all of the scheduled days. This includes those who fail to earn grades or withdraw from all courses and do not confirm future enrollment.
If students withdraw or are dismissed, or otherwise not complete the payment period, Federal Return of Title IV Funds calculations (R2T4) are processed as required by U.S. Department of Education. The Return of Title IV Funds calculations determine the amount of Title IV aid students have earned. The returns are calculated on a prorated basis from the students’ last dates of attendance. Depending on the outcome of the calculation, Post University will return students’Title IV financial funding if the withdrawal(s)occurs before the students complete 60% of the payment period. The formula is a calculation of the number of days attended divided by the number of total days in the payment period. The resulting percentage is used to determine aid earned.
If students earn less than the amount disbursed, Post University is required to return a portion of those funds to the Department of Education. The funds are returned in the following order:
- Unsubsidized Direct Stafford loans.
- Subsidized Direct Stafford loans.
- Direct PLUS loans.
- Federal Pell Grants.
- Federal Supplemental Educational Opportunity Grants (FSEOG).
If students are eligible for undisbursed Title IV funds, also known as post-withdrawal disbursements, notifications will be sent to the students. Without obtaining students’ permissions, Title IV grant funds from post-withdrawal disbursements will be credited to students’ accounts to pay for tuition, fees, and room and board, or disbursed directly to students, unless Title IV Grant Funds are declined within 14 days of notification. If post-withdrawal disbursements include loan funds, students’ acceptances to release all or a portion of the loan amounts must be received within 14 days of notification. Students may also authorize Post University to apply the funds to any prior outstanding balances that are greater than $200. In order for the students to receive post-withdrawal disbursements, all eligibility requirements must have been met. Any excess funds remaining after a return of Title IV funds or post-withdrawal disbursement will be refunded to the students