For current financial aid recipients, a tuition percentage will be determined based on the return of Title IV funds regulations (see Federal Return of Financial Aid Funds Process).
The Office of Student Financial Aid determines the return of Title IV funds percentage and informs the Office of the Registrar. Institutions are required to determine the percentage of Title IV financial aid “earned” by the student and to return the unearned portion to the appropriate aid program. This calculation process can be viewed in the Federal Return of Financial Aid Funds Process.
This same percentage is also used to calculate the return of unearned state or institutional financial aid dollars. However, if the Office of the Registrar receives documentation and reduces the percentage charged for tuition, the Title IV percentage used to calculate the return of unearned Title IV aid must remain at the higher rate. The percentage used to calculate the return of state or institutional financial aid dollars will be adjusted to correspond with the reduced percentage charged for tuition.
If the contracted charges are adjusted downward by the Registrar or Housing Office after the withdrawal was finalized, any credit balance will go towards the student's University bill or be refunded directly to the student.
For examples regarding the application of the Return of Title IV Funds policy, the student should call 319-335-1450 or come to Room 208 Calvin Hall.
A loan repayment grace period for Federal Unsubsidized and Subsidized Stafford Loans, Perkins Loans, and HEAL Loans will begin on the day of the student's withdrawal from the University. Students should contact their lender if they have questions regarding their grace period or repayment status.