REGULATIONS
Treatment of Title IV Financial Aid when a Student Withdraws
(34CFR 668.22).
The federal regulations state that you earn your aid based on the period of time you remain enrolled during the term. The following formula is used by the Office of Financial Aid to determine the percentage of aid earned:
Number of enrolled days*
----------------------------- = % of aid earned
Total number of days in the
enrollment period*
*exclude scheduled breaks of 5 or more days
If your percentage of aid earned is greater than 60%, you are eligible for all of your aid for that specific semester/term. If your percentage of aid earned is less than 60%, you may be responsible for paying back all or a portion of your aid. Note: students who enroll in self-paced Independent Learning courses (online and correspondence), the calculation for days in the enrollment period begins on the first day of main campus (daytime) courses and ends on the last day of main campus courses. You will earn aid based on the number of days you remain enrolled during this period. For a calendar of the 2009-2010 main campus term dates, please visit the Registrar’s Webpage.
Return of Unearned Aid
(34 CFR 668.22 g, h, i)
The responsibility to return unearned aid is shared by the institution and the student.
The institutions share is the lesser of:
- the total amount of unearned aid
- the institutional charges multiplied by the percentage of aid that was unearned by the student
The student’s share is the difference between the total unearned amount and the institution’s share. The institution’s share is allocated among the Title IV programs, in an order specified by statute. The student share is then allocated among the Title IV programs in the order specified below. For students withdrawing after the drop-add period, the same return policy applies to state and institutional grants. For students withdrawing on or before the drop-add period; state and institutional aid will be cancelled in full. Return of institutional scholarships, athletic scholarships, private scholarships, and third-party scholarships is determined by the donor.
Funds are returned in the following order:
Title IV
Unsubsidized Stafford Direct Loan
Subsidized Stafford Direct Loan
Federal Perkins Loan
Federal Parent or Graduate PLUS Loan
Federal Pell Grant
Academic Competitiveness Grant
National Smart Grant
Federal Supplemental Educational Opportunity Grant (SEOG)
Other Federal Aid
Institutional and State Aid
Institutional Aid
Colorado Student Grant (Undergraduate/Graduate)
Other Aid
Institutional scholarships
Athletic scholarships
Private scholarships
Third party scholarships
This policy applies to students with financial aid who officially withdraw. It may also apply to those who stop attending classes without formally withdrawing.
Examples of refund calculations are available upon request. Visit with a financial aid counselor for more information regarding your specific situation.