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Return of Title IV Funds

Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive.

This requirement applies to students who receive federal student aid and completely terminate enrollment prior to completing 60% of the enrollment period. (Federal aid includes Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Academic Competitiveness Grant, Subsidized or Unsubsidized Federal Stafford Loans, but not Federal Work-Study.)

Termination of enrollment can be the result of any of the following actions:

1. Student initiates an official withdrawal from Arkansas State University-Newport.
2. Student is administratively withdrawn from all courses as a result of disciplinary action.
3. Student is considered an unofficial withdrawal by receiving all failing grades for non-attendance, or a combination of failing grades and withdrawals.

If a recipient of Title IV grant or loan funds withdraws from a school after beginning attendance, the amount of Title IV grant or a loan assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.

Up through the 60% point in each payment period or period of enrollment, a pro rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds.

Students who have received federal aid should be aware that a percentage of that money must be repaid if you withdraw during the first 60% of the semester.

The amount of Title IV aid an institution must refund to the federal aid programs is determined by the federal return to Title IV funds formula as specified in Section 484B of the Higher Education Act. Arkansas State University-Newport utilizes software provided by the Department of Education to calculate the amount of aid that must be refunded which was initially utilized to pay institutional charges. The depart date provided by the registrar's office is utilized to document the last date of enrollment. If the student is considered an unofficial withdrawal, and a failing grade/grades is earned for non attendance, the midpoint of the semester is the date used in the return of Title IV funds calculation. (Students are given the option to provide proof of attendance after the midpoint of the semester.)

Arkansas State University-Newport returns unearned aid used to pay institutional charges in the following order within 45 days of the withdrawal determination:

1. Unsubsidized Federal Stafford Loan
2. Subsidized Federal Stafford Loan
3. Federal Pell Grant
4. Academic Competitiveness Grant
5. Federal Supplanted Educational Opportunity Grant
6. Other Title IV Programs.

Students who have received federal aid should be aware that a percentage of that money must be repaid if you withdraw during the first sixty percent of the semester. The chart below estimates the percentage of federal aid that a student must return based upon when he/she withdraws. Please consider this financial responsibility should you be considering withdrawing from the university.

Estimated % of Federal Aid Due Back	Withdrawal Date
11 days                              90 - 99%	08/24 - 09/04
20 days                              80 - 89%	09/05 - 09/16
29 days                              70 - 79%	09/17 - 09/26
38 days                              60 - 69%	09/27 - 10/07
47 days                              50 - 59%	10/08 - 10/17
55 days                              40 - 49%	10/18 - 10/28
------------ None ------------	10/29 - 12/15

Estimated % of Federal Aid Due Back	Withdrawal Date
11 days                              90 - 99%	01/11 - 01/23
20 days                              80 - 89%	01/24 - 02/03
29 days                              70 - 79%	02/04 - 02/13
38 days                              60 - 69%	02/14 - 02/24
47 days                              50 - 59%	02/25 - 03/06
55 days                              40 - 49%	03/07 - 03/17
------------ None ------------	03/18 - 05/04

The U.S. Department of Education worksheet that the ASUN Financial Aid Office uses to calculate the amount of money that you owe back if you withdraw.