Office of Student Financial Aid & Student Employment

Return of Title IV Aid

1. You received federal student aid (Pell, SEOG, Perkins Loan, Nursing Loan, Stafford Loan or PLUS Loan.),

AND

2. You are totally withdrawing prior to completing 60% of the period/semester for which the aid was provided.

Federal law now specifies how a school must determine the amount of federal student aid (Pell, FSEOG, & Stafford Loans) that a student earns if they withdraw* prior to completing 60% of an enrollment/payment period. The amount of federal financial assistance that the student earns is determined on a pro-rata basis.


*The withdrawal date* divided by the total calendar days in the enrollment/payment period with an allowance for any scheduled breaks that are 5 or more days in length.

Percent unearned = 100% minus percent earned.

The student is billed by The University of Akron for any account balance created when the College is required to return funds.

*Withdrawals occur the date the withdrawal form is processed by the Registration Office, the date the student is officially dismissed from the College or last date of participation in an academic related event. In the case of unofficial withdrawals, it is the mid-point of the period of enrollment, or date student last attended class or other academic related event (e.g. exams).

Once the student has completed more than 60% of the payment period, all financial assistance is considered earned.

STUDENTS MAY BE REQUIRED TO DOCUMENT THEIR CLASS ATTENDANCE. (Acceptable documentation could be a dated, graded assignment from the class, or documentation from the course instructor.)

If you have any question about how this regulation may affect you, please contact the Financial Aid Office before withdrawing from classes or discontinuing class attendance.