Return of Title IV Funds/Institutional Refund Policy
The following addresses refund and repayment of aid received by students who cease to be enrolled prior to the end of a payment period. This policy is effective only if the student completely withdraws from all classes. (An exception is if the student withdraws during a payment period which is made up of modules and communicates in writing that he/she will return for a later module within that same payment period. Wartburg College’s (WC) winter and May term are a payment period with two modules.)
The withdrawal date for the calculation of the return of Title IV funds, state funds (if applicable) and institutional aid is based on the following:
- The last date of attendance at an academic related activity, or
- The date the student officially notifies the institution of his/her intent to withdraw, or
- The date determined by Wartburg as the administrative withdrawal date, if the student has left without notifying the College, based on a determination of the last academically-related activity, or
- If none of the above three situations apply then the midpoint of the enrollment period for students who leave without notifying the institution (an unofficial withdrawal).
Earned Federal Aid Calculation
When a recipient of title IV grant or loan assistance withdraws from WC during a payment period in which the recipient began attendance, WC will determine the amount of title IV grant and/or loan assistance that the student earned as of the student's withdrawal date. The amount of federal financial aid that is considered “earned” is pro-rated according to the percentage of the payment period completed.
Once a student has completed 60 percent of the payment period, 100% of the student’s federal financial aid assistance has been earned. Since the institutional and state calculation is handled differently than the federal calculation during the Winter/May term enrollment period, the 60% point of the payment period will be different for each type of aid.
Return of Funds Allocation
Federal financial aid funds are returned In accordance with Federal regulations, in the following order if applicable:
- Federal Direct Unsubsidized Stafford Loan
- Federal Direct Subsidized Stafford Loan
- Federal Perkins Loan
- Federal PLUS (Parent) Loan
- Federal Pell Grant
- Federal SEOG
- Federal TEACH Grant
- Iraq and Afghanistan Service Grant
Funds received from the state (if applicable) and the institution are also returned based on the percentage of the enrollment period completed.
Pro-rated Institutional Charges
When a student withdraws, the Business Office completes a calculation to determine the student’s pro-rated charges. Tuition charges are pro-rated using the percentage of the payment period completed. Certain fees are not pro-rated. Room and board charges are pro-rated based on the day the student terminates their board plan and officially checks out of his/her residence hall.