/Institutions/Donnelly-College/json/2025-2026/Academic-Catalog-local.json

/Institutions/Donnelly-College/json/2025-2026/Academic-Catalog.json

Return of Federal Aid (Title IV Funds)

Donnelly College students who receive Federal Financial Aid (Title IV funds) and withdraw from or fail to complete all courses must have a calculation performed by the Financial Aid Office. The calculation determines the amount of Federal Title IV funds that must be returned by Donnelly College and the amount to be returned by the student.

This calculation is based on the number of calendar days the student attended divided by the number of calendar days in the term (less any breaks of 5 days or more including weeks) up to sixty percent (60%) point of the semester. After this point 100% of the aid has been earned and no funds will be returned. A student's official withdrawal date is:

• The date the student officially withdraws in the Registrar's office, in person or in writing.
• If the college withdraws a student attending class for other reasons, the withdrawal date is the last date of attendance.
• All students receiving all Fs at the end of each term will be forwarded to the appropriate Director of Instruction by the Registrar for determination of the last date of student participation in an academically related activity.
• For students determined to have unofficially withdrawn, the determined last date of participation in an academically related activity will be provided to the Director of Financial Aid for return of Title IV fund calculation. If the last date of participation in an academically related activity cannot be determined, the midpoint of the period attended will be applied.

Donnelly College returns the following funds in this order:

1. Federal Direct Unsubsidized Stafford Loan
2. Federal Direct Subsidized Stafford Loans
3. Federal Pell Grants
4. Federal SEOG

(Work-study earnings will not be used in the calculation.)

Donnelly College will return Title IV program funds as soon as possible and no later than 45 days after determining the student has withdrawn. Post-withdrawal disbursements will be credited to a student’s account or paid directly to the student if their balance is zero. Grants will be disbursed within 45 days. If the R2T4 calculation results in a credit balance on the student’s account, it will be disbursed as soon as possible and no later than 14 days (about 2 weeks) after the calculation of R2T4.

If this calculation determines that the disbursement exceeds the student’s educational expenses, the student may be required to repay a portion of the aid disbursed. Educational expenses include tuition, fees, and books. Amounts due to be returned to the Pell program by the student will be reduced by fifty percent (50%). Amounts due to be returned to the loan program will be paid according to the terms of the promissory note. The Direct Loan program will be notified of the date of the student's withdrawal. Loans will be offered to the student within 30 days (about 4 and a half weeks) and the student is allowed at least 14 days to accept or decline the funds.

If the calculation indicates the student must return any federal monies previously given to him/her, the Donnelly College Business Office will send a bill to the student for these monies. The student would be ineligible for Federal Student Aid until these monies are repaid. The fees, procedures and policies listed here supersede those published previously and are subject to change without notice. Further information is available in the Financial Aid Office and the Business office regarding the Return of Federal Student Aid (Title IV) Funds.