Title IV Program and Related Responsibilities

Return of Title IV (Federal) Refund Policy  (See College Catalog)

A return of federal funds may be required for those students who withdraw or are dismissed from Miller College on or before completing 60% of the coursework in a given semester and who receive federal financial aid. Miller College will determine the amounts and types of funds, if any, to be returned to the individual aid programs through the Return to Title IV formula established in the 1999 federal financial aid reauthorization.

The percentage of the return is equal to the number of calendar days remaining in the semester divided by the total number of calendar days in the semester. {Example: Semester begins on September 5th and ends on December 18th. There are a total of 101 calendar days in the semester. Student withdraws on October 30th. The student has completed 56 days or 55% (56/101 = .55) of the semester, leaving 45 days or 45% (45/101 = .45) of the semester remaining. Therefore, 45% of the financial aid disbursed to the student for the semester must be returned.} Students who withdraw after the 60% point in the semester have earned 100% of their financial aid.

Evidence:

• College Catalog 2012-13 p. 8