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In establishing a refund policy, MWU has instituted and adheres to all requirements included in the Federal Formula for Return of Title IV Funds as specified in Section 484B of the Higher Education Act of 1965 (as amended). This policy will apply to Title IV and VII funding.
Student Financial Services (SFS) office is required by Federal law to recalculate financial aid eligibility for students who withdraw, take a leave of absence, or are dismissed prior to completing 60% of the quarter. If a R2T4 calculation is required during a quarter, SFS must return the amount of unearned Title IV funds to Department of Education no later than 45 days after the student’s withdrawal date.
Withdrawal date
The calculation for Return of Title IV funds is based upon the official withdrawal date determined by the Registrar’s Office. A student’s official withdrawal date would be the date the student began the official withdrawal process or the date of the student’s notification, whichever is earlier. If a student did not begin the official withdrawal process or provide notification of his or her intent to withdraw, the student’s withdrawal date would be the date the school becomes aware that the student ceased attendance. The Office of Student Financial Services are also notified by the College Dean's office.
The number of days completed is divided by the total number of days in the enrollment period to identify the percentage of time the student has completed. The percentage of Title IV aid earned is equal to the percentage of the enrollment period completed. After 60% of the enrollment period is completed, there is no return of the Title IV funds for that period and the student is considered to have earned 100% of the Title IV funds received. If a student officially withdraws while on a schedule break of five consecutive days or more, the withdrawal date is the last date of scheduled class attendance prior to the start of the scheduled break.
Refund Policy
The refund policy includes the following guidelines:
* MWU will refund scholarship monies in accordance with the sponsoring agency's policy.
** All refunds of institutional aid will be prorated based on the remaining weeks of the current quarter. Subsequent quarters of awarded institutional funds will be cancelled; therefore, no refunds will be made.
*** MWU will only refund monies to a student who does not owe a repayment of non-institutional funds or who does not have unpaid current year charges owed to the institution.
Post-Withdrawal Disbursements
If the total amount of title IV loan assistance that the student earned is greater than the total amount of title IV loan assistance that was disbursed to the student as of the date of the institution's determination that the student withdrew, the difference between these amounts must be treated as a post-withdrawal disbursement.
If a R2T4 calculation is required, SFS must provide written notification to the student prior to making any post-withdrawal disbursement within 30 days of the student’s withdrawal date. MWU must receive permission from the student before we can release the post-withdrawal disbursement.
If a student withdraws during a quarter, MWU will determine the amount of tuition and fees that were unearned by the institution. It will be calculated by determining how many remaining calendar days there are in the payment period divided by the total calendar days in the payment period. (Scheduled breaks of five or more calendar days are excluded in the calendar day count.) The Institution will pay back to the student (or lender) the unearned amount. After 60% of the days in the payment period have passed, the institution will have earned the total amount paid for that payment period. This method will be applied regardless of whether or not the student received any form of financial aid.
All Tuition Assistance (TA) funds will be returned according to the university's institutional refund policy. Up to the start date, 100% of all TA funds will be returned to the appropriate military service when the service member fails to: begin attendance, start a course (regardless if the student starts other courses), or the course is cancelled. All TA Funds will be returned directly to the military service, not to the service member.