Return of Title IV – Post Withdrawal Disbursement Example
Student was enrolled full-time for courses that spanned the full 16 weeks. The original charges for tuition, fees, and books for the term were $2,200. The student began attendance in each course, but officially withdrew on the 3rd day and receive a 100% refund of institutional charges. The funds disbursed (credited) to the student account were: $0 Pell. However, the student could have received $2960 from the Pell grant should he have continued to be enrolled.
- There are 113 days in the payment period.
- 3 divided by 113 = .0265 or 2.65%.
- Apply the percentage completed (earned), 2.65% to:
- Title IV (federal) that could have been disbursed: $2960 times 2.65% = $78.44 earned aid
- Total charges for the term: $0 (the student was provided a full refund).
- The student earned more federal financial aid than was disbursed. The post-withdrawal disbursement for Title IV funds will be processed for the student and a refund will be issued within 14 days of the credit balance.