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STUDENT HANDBOOK - THE MOUNTIE
Effective
January 1983 Revised November 1987
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Financial Aid Office - Financial Aid Refund and Repayment Policy
Federal regulations require that West Virginia University recalculate eligibility for financial assistance for students who completely withdraw, drop out, or are dismissed before completing the enrollment period. Students who receive all unsatisfactory grades (F) at the end of the grading period will be considered as “unofficially withdrawn” at the semester mid-point unless documentation is available that demonstrates continued class participation. Application of this policy may result in the necessity for a student to return financial aid funds to various Title IV federal aid programs including Federal Pell Grant, Federal SEOG, Federal Perkins Loan, and William D. Ford Federal Direct Student and PLUS loans.
A student “earns” Title IV federal aid based upon the length of time the student remains enrolled during the enrollment period. Students who withdraw on or before completing 60% of the semester may be required to return a portion of federal financial assistance. The determination of 60% of the term is computed by dividing the total number of calendar days in the term into the number of calendar days completed as of the date of student withdrawal. Scheduled breaks of five consecutive days or more are excluded. The percentage of Title IV assistance which the student has earned is equal to this percentage of the term completed. If the withdrawal occurs after 60% of the term is completed, the percentage earned is considered to be 100%.
If more Title IV aid was disbursed than was earned by the student, WVU is required to return the lesser of (1)the unearned aid percentage applied to institutional charges or (2)the unearned aid percentage applied to the total Title IV aid received. The student must return unearned aid for which s/he is responsible after subtracting the amount the school will return. Funds are returned in the following priority:
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- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal Perkins Loan
- Federal PLUS Loan
- Federal Pell Grant
- Federal SEOG
- Other Title IV assistance
- Other federal, state, private or institutional aid
- The student
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If less Title IV aid was disbursed that was earned by the student, the student is entitled to a post-withdrawal disbursement within 30 days of withdrawal.
The return of financial aid may result in unpaid charges to West Virginia University for tuition/fees and room/board. West Virginia University will bill the student for any balance due. Students who owe a repayment to any federal financial aid program are no longer eligible for financial aid at any post-secondary institution. Eligibility may be regained after repayment is satisfied. |
