Title IV Program Refund
Source: Federal Student Aid Handbook 2018-2019, Department of Education
Financial Aid and Scholarships is required by regulation to calculate a Return of Title IV Funds amount for all students who withdraw during a semester. The policy also applies to students who discontinue enrollment in all classes, on or after the first day of the term. The Return of Title IV Funds is the amount of unearned aid received at the beginning of the term that must be returned to the federal aid programs. Any aid received in excess of the earned amount is considered unearned. The earned portion is calculated on a daily basis using calendar days from the first day of instruction. See "Withdrawal from the University" in General Academic Regulations for information about officially withdrawing.
The regulation specifies how UTSA must determine the amount of Title IV program assistance that you earn if you withdraw from school. The amount of assistance that you have earned is determined on a pro rata basis. For example, if you completed 30% of your payment period or period of enrollment, you earn 30% of the assistance you were originally scheduled to receive. Once you have completed more than 60% of the payment period or period of enrollment, you earn all the assistance that you were scheduled to receive for that period.
The Title IV programs that are covered by this regulation are: Federal Pell Grants, Teacher Education Assistance for College and Higher Education (TEACH) Grants, Federal Direct Subsidized and Unsubsidized Loans, Federal Direct Parent Loan for Undergraduate Students (PLUS) Loans, Federal Direct Graduate PLUS Loans and Federal Supplemental Educational Opportunity Grants (FSEOGs).
For additional information, including examples of refund calculations, contact the One Stop Enrollment Center.