US federal aid refunds

If you receive financial aid, withdraw from university and receive a fee refund you may owe money to the US Federal Aid program.

The US Department of Education calculates financial aid based on your enrolment - the number of days enrolled divided by the number of days in the enrolment period equals the percentage of aid earned. If you remain enrolled beyond 60% of the academic period in calendar days, you earn 100% of your aid received.

If you withdraw from the University before the 60% mark for aid earned, the unearned portion must be returned to the US Department of Education. Both you and the University share the responsibility to return unearned aid.

The University's share is the lesser of:

• the total amount of unearned aid
  
  or
  
  
• the University's charges, multiplied by the percentage of unearned aid.

Your share is the difference between the total unearned amount and the University's share.

The unearned amount must be returned in accordance with the initial distribution of Direct Loan funds in the following order:

1. direct unsubsidised
2. direct subsidised
3. direct PLUS.

If unearned aid results in a balance due, we mail a revised tuition and fee bill to you. It is your responsibility to repay those funds.