The Office of Financial Aid and Veteran Services is required by the
Higher Education Act of 1965, as amended in 1998, to determine the
amount of financial aid that a student "earned" for an academic semester
when the student totally withdraws from their classes.
IV funds are awarded to you for a given semester based on the
assumption that you will attend all scheduled classes. If you do not
complete all scheduled classes, the Office of Financial Aid and Veteran
Services is required to calculate the amount of financial aid that you
actually earned in a process called Return of Title IV.
following federal aid funds may be affected if you withdraw, drop, stop
attending, or never attend all of your classes: Direct Unsubsidized
& Subsidized Loans; Direct Parent PLUS Loans; Pell Grants and SEOG
The Office of Financial Aid and Veteran
Services will perform a Return of Title IV calculation if your currently
scheduled classes are all, or any combination of the following:
officially withdrawn, dropped within the refund period, unofficially
withdrawn (stop attending), your instructor reports an unearned F, and
never attended. Note: If you receive financial aid and never attend any
of your scheduled classes, you will be required to repay all of the aid
received, including any state funds.
completely withdraw, drop, or stop attending before your financial aid
is disbursed for the semester, you may be eligible to receive a
Post-Withdrawal disbursement. A Post-Withdrawal disbursement is for
students that were eligible to receive a disbursement, but the aid was
unable to disburse before you stopped attending. The Financial Aid
Office will determine if any aid was earned by using the calculation
The amount of aid that you earned is
determined by comparing the number of calendar days elapsed from when
you withdraw, drop, or stop attending against the number of calendar
days within the class start/end dates. If the amount of days completed
is less than 60% some or all of your financial aid received may be
required to be paid back. Any time you withdraw, drop, or stop attending
one or more of your classes it may impact your Satisfactory Academic
Progress standards. This may impact your ability to receive financial
aid in the future.
A Return of Title IV calculation may
take up to 45 days to complete. Once the Return of Title IV process is
complete you will receive a letter from Parkland College that explains
the calculation and the balance due to Parkland College as a result of
the Return of Title IV calculation.