net disbursement. Federal Work-Study is excluded from the calculation. This process is called a Return of Title IV Calculation.
Title IV funds must be disbursed within 14 days of the aid being posted on the students financial account, however aid is earned as student attends throughout the semester.
If the student does not complete 60% of the semester, LBWCC is required to perform a calculation to determine if funds must be returned to the Department of Education. This date of withdrawal is determined in two different ways for official and unofficial withdrawals. Official Withdrawal : The official withdrawal date is determined by the date the student started the withdrawal process or the date of the last academic related activity. Unofficial Withdrawal : The unofficial withdrawal date is determined by the date the instructors report as the last documented academic related activity when a grade of “F” is posted at the end of the semester or payment period. The return of funds calculation shall be based on the midpoint of the term for students who unofficially withdraw and cease attending before completing 60% of the term, unless it can be determined that the last documented academic related activity/engagement is after the 50% date, at which time that date will be used to the benefit of the student. The percentage formula is as follows: total number of calendar days completed in the payment period divided by the total number of calendar days in the payment period equals the percentage of Title IV funds earned. Scheduled break days of 5 or more are excluded from the calculation. Funds shall be returned in the following order: 1. Federal Pell Grants 2. Iraq and Afghanistan Service Grants 3. FSEOG Any remaining credit, (post- withdrawal disbursements), shall be posted to the student’s account within 45 days of the date it was determined that the student withdrew. If there is a remaining credit after all expenses are paid, the balance shall be refunded to the student within 14 days. Calculations and returns must be made 45 days from the date of determination for official withdrawals and 30 days from the end of the semester (or payment period) for unofficial withdrawals. The student may be required to return or repay the remaining unearned Title IV funds to the Department of Education. LBWCC will notify the student in writing of the amount they owe, the procedure for repayment and consequences of non-payment within 30 days.
2022-23 College Catalog and Student Handbook
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