Return of Title IV Funds

If a recipient of Federal title IV aid withdraws during a period of enrollment, Goucher College must calculate the amount of title IV aid the student earned. Unearned title IV funds must be returned to the title IV programs.

At Goucher College's Office of Student Financial Aid, the Director and Assistant Director of Financial Aid calculate the title IV aid earned for  both the undergraduate students and graduate students.

When a student withdraws, the institution must determine the withdrawal date, the amount the student earned, (must include the amounts that were or could have been disbursed). Work study is not included in the amount of title IV aid earned. The institution is also responsible for returning unearned funds to federal title IV programs.

The federal formula requires the return of Title IV aid if the student received federal financial assistance in the form of a Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal SMART Grant, Federal ACG (Academic Competitiveness Grant), Federal TEACH, Federal Perkins Loan, Federal Unsubsidized or Federal Subsidized Stafford loan, or Federal PLUS loan and withdrew on or before completing 60% of the semester. The percentage of title IV aid to be returned is equal to the number of calendar days the student was enrolled (minus scheduled breaks) divided by the number of calendar days in the semester.

The calculation of earned and unearned title IV aid is very straightforward. A form titled "Treatment of Title IV Funds When a Student Withdraws from a Credit Hour Program" can be found here.