Return of Title IV Funds
This requirement applies to students who receive federal student aid (includes Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Academic Competitiveness Grant, Subsidized or Unsubsidized Federal Stafford Loans, but not Federal Work-Study) and completely terminate enrollment prior to completing 60% of the enrollment period.
Termination of enrollment can be the result of any of the following actions:
- Student initiates an official withdrawal from Pulaski Technical College
- Student is administratively dropped by instructors from all courses due to non attendance.
- Student is administratively withdrawn from all courses as a result of disciplinary action.
- Student is considered an unofficial withdrawal by receiving all failing grades, or a combination of failing grades, and either instructor initiated or student initiated drops.
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. Pulaski Technical College 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 registrarís office is utilized to document the last date of enrollment. If the student is considered an unofficial withdrawal, and a failing grade is earned for non attendance, the instructor must provide a last date of attendance for the course. This date is used in the return of Title IV funds calculation. If a date cannot be determined for an unofficial withdrawal, the mid point of the semester is utilized.
Pulaski Technical College restores unearned aid used to pay institutional charges in the following order within 30 days of the withdrawal determination:
- Unsubsidized Federal Stafford Loan
- Subsidized Federal Stafford Loan
- Federal Pell Grant
- Academic Competitiveness Grant
- Federal Supplanted Educational Opportunity Grant
- Other Title IV Programs.
A repayment may also be required of the student when a ďchange checkĒ has been issued to a student from financial aid funds in excess of the amount utilized to pay institutional charges that the student fails to earn by maintaining enrollment. Pulaski Technical College will also restore these funds to the appropriate source in the above order within 30 days of the withdrawal determination.
Students are billed for any unearned aid that was refunded to the federal aid program that caused institutional charges to be unpaid. Additionally, students will be billed for any monies the college returns on the studentís behalf that is owed to the federal aid programs as a repayment of funds disbursed directly to the student for non institutional charges. Copies of the return to Title IV calculation are provided to the student along with a bill when their Return to Title IV calculation is processed.
If a student earns more aid than was disbursed, the student may be eligible to receive a post withdrawal disbursement. Students are notified by mail of their eligibility for such a disbursement. If the post withdrawal disbursement is loan funds the student must confirm in writing that the loan funds are still wanted. A post withdrawal of grant funds is automatically credited to the studentís account for outstanding charges. A student who does not have an outstanding balance, must confirm in writing their desire to receive grant funds.
If a student is entitled to an institutional refund of tuition and fees, those monies will first be applied to any outstanding balance to the college before being refunded to the student.