Withdrawal and Return of Federal Financial Aid

  • Return of Title IV Funds 


    The return of Title IV funds requirement is a complex process involving a great deal of interoffice cooperation and coordination. The bullets below provide an overview of the major steps in the overall process and the offices that have responsibilities for those steps.

    Any students who wish to withdraw from the University are required to complete an official withdrawal form from the Center for Academic Success, located in St. Francis Hall.

    • The Director of Academic Success and Retention determines the withdrawal date and reports it to other institutional offices, to the NSLDS, and/or other agencies
    • The Financial Aid Office is responsible for ensuring the proper amounts are returned to the appropriate Title IV programs in a timely manner
    • Payments may be made with cash or check in person or by mailing to the attention of the Business Office. Credit card payments (Mastercard, Discover or American Express) are accepted through CASHnet. CASHnet may be accessed within the student’s online My.Francis.edu account or by a third-party link https://commerce.cashnet.com/francispay . A convenience fee of 2.75% will be assessed for processing a credit card transaction. Electronic funds transfer (ACH Drafts) from a bank checking or savings account through CASHnet does not occur any processing fee.
    • The Business Office will notify the student of his or her obligation to repay funds, who tracks the repayment, whether a repayment agreement will be offered and monitored by the institution, as well as the timing and responsibility for referring overpayments to ED
    • Holds may be placed on the student’s school records or account if financial obligations are not met

    According to regulations instated in October 1999, Saint Francis will calculate refunds based on the percentage of the term completed by the student. If the student completed more than sixty percent of the term, the student will be eligible to receive all aid.

    Before writing a policy and implementing procedures for the return of Title IV funds, it is necessary to understand the principles and conditions that dictate when a school must perform a return of Title IV funds calculation. For example, only students who have withdrawn from all classes are subject to the return of Title IV funds formula. In addition, a student who has completed at least one class within the payment period or period of enrollment, but drops other classes is treated as having changed enrollment status – the student is not considered to have completely withdrawn from school under the return of Title IV funds requirements. You may want to review the resources listed in the column to the right, then compose a policy that defines students for whom the withdrawal calculation is required.

    Below is a list of situations that would not require the University to perform a return of Title IV funds calculation.

    • A student who was awarded Federal Work-Study only; 
    • A student who dropped classes but did not completely withdraw; 
    • A student who never began attendance in any classes; or for whom the institution cannot document at least one day of class attendance; 

    Below is a list of financial aid programs to which the return of Title IV funds requirements apply.

    • Federal Pell grant
    • Federal Stafford Loans
    • Federal PLUS Loans
    • Federal Perkins Loan
    • FSEOG

    Title IV grant or loan recipient is defined as any student can completes a FASFA form, not convicted of a drug felony, fully enrolled in a degree seeking major, and meets the criteria of EFC and eligible financial need.

    •  Institutional charges are defined as tuition fees, room and board, lab fees, orientation fees, any fees that are major related.

    Title IV disbursement is defined as Title IV aid awarded to a student and subsequently disbursed to the student account.
    Title IV leave of absence is defined as an approved request of the student per the Office of Advising with a specific end and return date.
    The date of the school’s determination that a student withdrew is defined as the student’s last day of attendance.

    The official withdrawal date is defined by the Office of Advising and Retention. The date of the University’s determination that a student withdrew is defined as the time in which the required paperwork is approved.

    Office of Academic Advising and Retention determines the withdrawal date for a student, and the timing of determining the withdrawal date. If a student fails to earn a passing grade in at least one course, SAP is reviewed at the end of the spring semester to determine probationary periods or dismissal of aid eligibility for future semesters. A student is allowed to rescind his or her withdrawal notification. If a student rescinds his or her withdrawal notification and subsequently ceases attendance, aid is retroactively withdrawn to the original date of withdrawal. If, because of extenuating circumstances, a student is unable to officially withdraw, the withdrawal date is determined between the advisor and student through electronic communication and with the professors of student to determine last date of attendance of classes.

    The University is not required to take attendance for Title IV purposes because some outside agency requires the University to monitor attendance for segments of our student population.

    The University has a Title IV-approved leave of absence (LOA) policy. If a student requests a leave of absence for the semester or year, he or she will contact the Center for Academic Success to complete the official withdrawal process. In order for leave of absence to be approved, the student should be in good academic standing as well as good standing with the Office of Student Conduct and Business Office. Student must be approved by his or her respective academic major department. Once the form is submitted, and approval is granted, a letter will be sent outlining steps for return to the university. If a leave of absence is not approved, the student will be considered officially withdrawn from the university and will need to seek readmission by contacting the office of admissions.

    Academically-related activities (e.g., exams, assignments, etc.) is defined as in class or out of class activities that impact the students grade matriculation and ability to graduate.

    Students who need to withdraw from Saint Francis University are required to complete an official withdrawal form from the Center for Academic Success, St. Francis Hall. This form will then be signed by the director CAS (or designee) and sent to various offices at the university. The official withdrawal process includes the completion of the official withdrawal form, clearing of all financial obligations, and returning the laptop.
    Students considering withdrawal from the university should be aware that they are subject to the regulations governing withdrawal from courses. Therefore, if students withdraw from Saint Francis University after the official date for dropping a course, they will receive a grade of “F” for all courses carried that semester. If a student can show just cause (illness or family emergency) the student may, in consultation with the instructor, apply for a grade of “CN” or “W” for any course from which he or she withdrew. If such arrangements are not made by the student, the “F” grade will apply. As usual, the “F” grade in this instance is calculated in the student’s quality point average.

    Leave of Absence


    If a student requests a leave of absence for the semester or year, he or she will contact the Center for Academic Success to complete the official withdrawal process. In order for leave of absence to be approved, the student should be in good academic standing as well as good standing with the Office of Student Conduct and Business Office. Student must be approved by his or her respective academic major department. Once the form is submitted, and approval is granted, a letter will be sent outlining steps for return to the university. If a leave of absence is not approved, the student will be considered officially withdrawn from the university and will need to seek readmission by contacting the office of admissions.

    Calculations


    The Financial Aid Office performs the calculation and the method used (e.g. manual paper worksheets, spreadsheets, or software).

    Date of Student’s Official Withdrawal Per Cent of Payment Refunded

    Before or during first week

    During second and third weeks

    During fourth and fifth weeks

    During sixth week

    During seventh and eighth weeks 100%

    90%

    80%

    70%

    60%

     

    Institutional charges are defined as any charge that is incurred through being a normal student at the University. These include such charges as tuition, room and board, and meal plan.

     

    Non-institutional charges are defined as charges from the University that are not defined in normal student attendance. These include but are not limited to late fees, parking fines, lab fees, orientation fees, and graduation fees. 

     

    Once a student has withdrawn, and that information is conveyed from the Center for Academic Success to the Financial Aid Office responsible for the calculation, the data used to perform the calculation is derived. The period of time that the student was enrolled is determined by the Office of Academic Success and Retention. The Financial Aid Office does the calculation to determine the amount of Title IV aid disbursed. Institutional charges are determined by the Business Office. Each calculation is documented and maintained in the student file.

     

    For additional information please contact the Financial Aid Office at (814) 472-3010 or feel free to stop in the office located in Padua 110.