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.
Title 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.
The 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 Grants.
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of Title IV calculation if your currently scheduled classes are all, or any combination of the following: officially withdrawn, dropped within the refund period, unofficially withdrawn (stop attending), your instructor reports an unearned F, and never attended.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.
If you 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 below.
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.