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FEDERAL "RETURN OF
TITLE IV FUNDS" POLICY
Effective October 7, 2000
If a student, who is disbursed Title
IV financial assistance, withdraws on or before completing 60%
of the semester in which the Title IV aid was disbursed, the
following Return of Title IV Funds policy will be applied.
McNeese State University will implement the new federal Return
of Title IV Funds policy beginning with the Fall 2000 semester
per the Higher Education Act of 1998. This policy will apply
to any student who receives Title IV aid which is Federal Pell
Grant, Federal Perkins Loan, Federal Supplemental Educational
Opportunity Grant (SEOG), Federal Work Study (FWS), Federal
Stafford Loans (Subsidized, Unsubsidized and Parent) and who
officially withdraws, drops out, is expelled, takes an
unapproved leave of absence (unofficial withdrawal), or fails
to return from an approved leave of absence (unofficial
withdrawal). Refer to the "Withdrawal from the University"
section of the McNeese State University catalog for
requirements for officially withdrawing from school.
The amount of Title IV Funds to return to the applicable
federal programs will be determined, using the student's
withdrawal date, and calculating the percentage of the
enrollment period for which the student did not complete.
McNeese will return that unearned percentage of the unearned
Title IV Funds that were disbursed or that could have been
disbursed to the federal programs. The school will return the
lesser of the total of unearned aid or an amount equal to
institutional charges multiplied by the percentage of unearned
aid. The student will be responsible for repaying any
remaining unearned portion that was disbursed to them.
Failure to attend class or failure to resign properly could
cause the student to receive a letter grade of "F" in all
courses. In this case, the student would still be subject to
the return of funds policy once an official withdrawal date is
established. Merely discontinuing class attendance is NOT
considered to be a formal resignation from the university.
Students who were awarded financial assistance and who
discontinue class attendance may be held responsible for
repayment of all tuition and fees. Please refer to the "Class
Attendance Regulations" section of the McNeese State
University catalog for requirements on class attendance.
If student's portion of unearned Title IV fund is a loan, no
action by the school is necessary. Regular loan terms and
conditions apply. If student's portion of unearned Title IV
funds is a federal grant, the student will be required to
return no more than 50% of the amount received for the
enrollment period.
The school will collect the portion of any financial
assistance owed by the student. If no payment is received,
holds will be placed on the student's account and the student
will lose eligibility for Title IV aid unless the overpayment
is paid in full or satisfactory repayment arrangements are
made. |
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