Title IV Funds Policy
This policy applies to all Columbia State students who receive financial aid from Title IV programs and who totally withdraw, drop out, or stop attending all classes without officially withdrawing.
Students who receive Title IV funds are required to earn these funds by attending classes through at least 60% of an enrollment term. Students who withdraw from all classes prior to completing 60% of an enrollment term will have their aid recalculated based on the percent of the term they completed. The Financial Aid Office encourages you to read this policy carefully. If you are thinking about withdrawing from all classes PRIOR to completing 60% of the semester, please CONTACT the Financial Aid Office to determine how your withdrawal will affect your financial aid and your possible repayment.
“Title IV Funds” refers to federal aid programs authorized under the Higher Education Act of 1965 (as amended) and includes: Federal Subsidized and Unsubsidized Stafford Loans, Parent Loans to Undergraduate Students (PLUS), Federal Pell Grants, Academic Competitiveness Grant (ACG) and Federal Supplemental Education Opportunity Grant (FSEOG). A student’s withdrawal date is:
- The date the student began the institution’s withdrawal process (as described in Columbia State’s Class Schedule) or officially notified the institution of intent to withdraw; or
- The midpoint of the period for a student who stops attending all classes without notifying the institution; or
- The student’s last date of attendance at a documented academically related activity.
Students may withdraw from all classes by using self-service.
Refunds on all institutional charges (tuition and fees) are calculated by using the refund policy published in Columbia State’s Class Schedule. Refunds calculated by Columbia State as the result of students who drop classes but who do not totally withdraw from the institution will be refunded to the student.
The percentage of Title IV aid unearned to be returned to the appropriate program shall be 100% minus the percent earned. No program can receive a refund if the student did not receive aid from that program. Unearned aid shall be returned first by Columbia State from the student’s account to the appropriate programs in the following order:
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- Parent Loans to Undergraduate Students (PLUS)
- Federal Pell Grant
- Academic Competitiveness Grant
- Federal SEOG
When the total amount of unearned aid is greater than the amount returned by Columbia State from the student’s account, the student is responsible for returning unearned aid to the appropriate program(s) as follows:
*Loan amounts are returned by the student according to the terms of the promissory note. **Amounts to be returned by the student to federal grant programs will be reduced by 50%. A student does not owe a repayment if the original grant overpayment is $50 or less.
- Unsubsidized Stafford Loan*
- Subsidized Stafford Loan**
- Parent Loans to Undergraduate Students (PLUS)*
- Federal Pell Grant**
- Academic Competitiveness Grant
- Federal SEOG**
The Financial Aid Office will notify the student of the amount of repayment within 30 days of determining the student’s withdrawal. The student has 30 calendar days after notification to make a repayment in full or make satisfactory repayment arrangements with Columbia State’s Financial Aid Office.
If the student does not repay the entire amount or make satisfactory repayment arrangements within the time allotted, any repayment owed will be sent to the U.S. Department of Education for collection. The student then has the opportunity to repay or make satisfactory repayment arrangements with the U.S. Department of Education. STUDENTS WHO HAVE NOT REPAID OR MADE ARRANGEMENTS TO REPAY WILL BE INELIGIBLE FOR TITLE IV AID AT ANY COLLEGE/UNIVERSITY.
NOTE: Students are responsible for making any federal grant repayments. THEY MUST ALSO REPAY COLUMBIA STATE FOR ANY FUNDS RETURNED TO THE BANK OR THE U.S. DEPARTMENT OF EDUCATION ON THEIR BEHALF. Students may submit a written appeal for a refund to the school’s Business Office for extenuating circumstances surrounding their withdrawal from school. For more information about the college’s refund policy, please see the “Refunds” section of the college catalog.
Worksheets used to determine the amount of a refund or return of Title IV aid are available upon request in the Financial Aid Office, as well as examples of how the policy is applied.