Return of Title IV Funds Policy
In Accordance with the Higher Education Amendments of 1998, institutions are now required to calculate a “Return of Title IV Funds” for all students who:
- Receive Title IV financial aid, AND
- Withdraw before completing at least 61% of the enrollment period.
The Return of Title IV funds policy is simply a calculation determining what portion of financial aid must be returned to the Title IV HEA program(s). The percentage of the period that the student remained enrolled is derived by dividing the number of days the student attended by the number of days in the period. Calendar days are used but breaks of at least five consecutive days are excluded from both the numerator and denominator. The College will calculate the State Refund Policy to determine if the student will owe the institution any funds once the “Return of Title IV Funds” calculation has been completed. Returns must be distributed in the following order:
- Unsubsidized Federal Stafford Loans
- Subsidized Federal Stafford Loans
- Federal PLUS Loans
- Federal Pell Grant Program
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Other Student Financial Aid Programs
- Other Federal, State, Private or Institutional sources of aid
- The student
The College will use the official withdrawal date as it appears on the clearance sheet from the Registrar’s Office. If the student does not officially withdraw, the College will contact instructors to determine the student’s last attendance in class or at a school sponsored function to determine the last date of attendance.
The College must return unearned funds for which it is responsible to Title IV programs as soon as possible, but no later than 45 days from the determination of a student’s withdrawal.
If a student did not receive all the aid that was earned prior to withdrawal, the student may be eligible to receive a post-withdrawal disbursement. The College must notify the student of post-withdrawal disbursement eligibility no later than 30 days after the college determines that the student withdrew. The student will have 14 business days to contact the college regarding the disbursement or the College will return the funds to the appropriate Title IV programs.
Early withdrawal from Ranger College may result in a student owing money to the College or the federal government or both. If a student completes over 60% of the program length, the student is considered to have completed 100% for Return to Title IV purposes.