Federal Refund Policy-Return
to Title IV (R2T4) Policy
Refund Policy for Students
Receiving Federal Title IV Aid (Financial Aid)
IV funds are awarded to students under the assumption that the student will
attend school for the entire term for which the aid is awarded. When a student
fails to complete the term, the student may no longer be eligible for the full
amount of Title IV funds he or she was scheduled to receive.
does Shaw University’s Bursar refund tuition and fees?
you withdraw from Shaw University prior to the end of the drop/add period, then
a full tuition and fee refund with be automatically processed for you.
much will I have to repay when I withdraw from school?
you withdraw from school prior to completing 60% of a term, you may be required
to repay a portion of the federal financial aid that you received for that
term. The amount of repayment depends upon the number of days that you attend
school in the term, the type of financial aid that you received, and whether or
not Shaw University refunds your tuition and fees.
regulations require Shaw University to determine the amount of aid “earned” by
each student receiving Title IV aid and withdrawing from all of his or her
classes prior to the end of the term. The portion of the term that you do not
attend represents the portion of aid that is determined to be unearned.
All students who withdraw prior to completing over 60% of a term may have to
repay a portion of their federal financial aid.
will I have earned 100% of my federal financial aid?
completing 60% of the term are considered to have "earned" 100% of the Title IV
aid funds he or she was scheduled to receive during the term. Title IV Federal
Aid covered by this policy includes the Federal Direct Stafford Loan, Federal
Direct PLUS Loan, Federal Pell Grant, and Federal Supplemental Educational
Opportunity Grant. Any student earning a passing grade in at least one
course for the term is not subject to the Return to Title IV Funds Policy.
are based on the student's official withdrawal date or for unofficial
withdrawals, the last date of an academically related activity that the student
participated in, the midpoint of the term, or the date the school determines
the student ceased attendance due to illness, accident, or other circumstances
beyond the student’s control. Unofficial withdrawal dates are determined by
the faculty, identifying the last date of activity for courses where the
student earned a 'Z', 'I', or 'W'. Shaw University’s grading policy stipulates
that only students who have completed the term, but failed to meet course
requirements will receive an ‘F’ grade. Students that fail to complete the term
due to an unofficial withdrawal will receive a 'Z' for the course. This policy
allows the University to distinguish between ‘earned’ F’s, and students that
failed because they unofficially withdrew from the University.
withdrawal date must be determined within 30 days of the end of the term,
academic year, or student’s program, whichever is earlier.
institution must return the amount of Title IV funds for which it is
responsible no later than 45 days after the date of determination of the date
of the student’s withdrawal. Shaw University offers all degree programs in a
credit hour, term based format. As a credit hour, term based degree program,
the following formula is used to compute the return:
Enrolled/Days in Term x Title IV Aid Awarded and Disbursed = Aid Earned
Disbursed – Aid Earned = Aid to be Returned
of Funds to Return
- Federal Direct Unsubsidized Loans
- Federal Direct Subsidized Loans
- Federal PLUS Loans
- Federal Pell Grant
Supplemental Education Opportunity Grants
a student earned less aid than was disbursed, the institution would be required
to return a portion of the funds and the student would be required to return a
portion of the funds. Remember that when Title IV funds are returned, the
student may owe a balance to the institution.
If a student earned more aid than was disbursed to
him/her, the institution will owe the student a post-withdrawal disbursement,
to be paid within 120 days of the student’s withdrawal.