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- Withdrawal and the Return of Title IV Funds
Withdrawal and the Return of Title IV Funds
Withdrawal and the Return of Title IV Funds
Class attendance is deemed an essential part of your education at Williston State College. It is also a federal requirement for financial aid recipients that class attendance is encouraged and monitored.
Students who find that they are unable to continue attending classes should officially withdraw from those classes. Obtaining and completing a Withdraw Form from the Academic Records Office will accomplish this. The Financial Aid Office and the Business Office must complete this form before final processing by the Academic Records Office.
Any federal financial aid recipient who leaves the college without completing the official withdrawal procedure may receive an F in all courses. Faculty will inform the Financial Aid Office of a student's last date of attendance in classes where an F is received. As required by law, either the provided last day of attendance or the mid-point of the term (50%) will be used to determine any need to reduce aid initially offered, as well as complete the Return of Title IV aid calculation described below. To make this calculation, we divide the number of calendar days the student has attended classes by the number of calendar days in the semester (minus any scheduled breaks of 5 days or more). The resulting percentage is multiplied by total federal funds disbursed to the student account or check or direct deposit for the semester.
This calculation determines the amount of aid earned that a student may keep. For example, if a student attended 25 percent of the term, 25 percent of the aid disbursed will be earned. The remainder, or unearned amount must be returned. The Student Financial Aid Office will notify and provide instructions to students who are required to return funds to the government.
A post-withdrawal disbursement must be made from available grant funds before available loan funds. If outstanding charges exist, the institution may credit the student's account up to the amount of outstanding charges with all or a portion of any post-disbursement grant funds. However, a post-disbursement of loan funds to pay outstanding charges requires the confirmation of the student or parent for a parent PLUS loan. In these situations, the student and/or parent will be notified within 30 days of the institution's determination that the student withdrew to offer the post-withdrawal disbursement. The funds may be accepted or declined by the student and/or parent within 14 days from the date of notification. Once notification of acceptance has been received, WSC will disburse the funds within 120 days of the institution's determination that the student withdrew.
Once the withdrawal has been completely processed, this may leave some university charges unpaid, and the student will be billed for this amount. The amount due will appear on the student's bill within 45 days after the withdrawal date.
Funds returned to the federal government are used to reimburse individual federal programs. Financial aid returned (by the University and/or the student/parent) is allocated, in the following order, up to the net amount disbursed from each source:
1. Federal Unsubsidized Direct Loan Federal Subsidized
2. Direct Loan Federal Perkins Loan
3. Federal Direct PLUS (Parent) Loan or Grad PLUS Loan
4. Federal Pell Grant
5. Federal Supplemental Educational Opportunity Grant (FSEOG)
6. Other Federal Loan or Grant Assistance
Refund of Institutional Charges for Complete Cancellation
Refunds of institutional costs are calculated based on state policy. Institutional costs at Williston State College include tuition, fees, and on-campus room and board. Rates are determined based on the date of official withdrawal or in the case of unofficial withdrawal, the mid-point of the term.
The state refund policy for tuition and fees for all students are based on the length of the class measured in calendar days as noted below. Room and board contracts (meal plans) are refunded based on a weekly percentage.
Percent of class length (actual calendar days
the class is listed - including week-ends) Refund of Tuition and Fees
0 - 8.999% 100%
9.000%- 34.999% 75%
35.000% - 59.999% 50%
60% - 100% 0%
Refund Policy for Class Drops
Upon proper withdrawal from a class, while still enrolled in one or more other classes, tuition and fees will be refunded at 100% through the first 8.999% of the length of the class. No refunds will be made after that point for a class drop.
Distribution of Refunds for Financial Aid Recipients
The dates used to calculate refunds are as follows:
-A student who officially withdraws - the date of withdrawal
-A student who unofficially withdraws - the mid-point of the term or the reported last day of attendance if available.