There may be some Title IV funds that you were scheduled to receive that cannot be disbursed to you once you withdraw because of other eligibility requirements. For example, if you are a first-time, first-year undergraduate student and you have not completed the first 30 days of your program before you withdraw, you will not receive any Direct Loan funds that you would have received had you remained enrolled past the 30th day. Unearned Title IV aid must be returned to the following programs in the following order: • Federal unsubsidized loan • Federal subsidized loan • Federal PLUS loan • Federal Pell Grant • Iraq/Afghanistan Grant • Federal SEOG • Other Title IV grant aid Any loan funds that you must return, you (or your parent for a PLUS Loan) repay in accordance with the terms of the promissory note. That is, you make scheduled payments to the holder of your loan. Any amount of unearned grant funds that you must return is called an overpayment. The maximum amount of a grant overpayment that you must repay is half of the grant funds you received or were scheduled to receive. You do not have to repay a grant overpayment if the original amount of the overpayment is $50 or less. You must make arrangements with your school or the Department of Education to return the unearned grant funds. At the end of the semester the Financial Aid Office randomly selects a sample of students earning all F’s to determine if the F’s are earned or unearned. If the F’s are determined to be unearned a calculation will be performed using the midpoint of the semester as the
- Subject
- CFR
- Type
- course
- Edition
- 2025-2026
- Source
- www.waketech.edu