Federal Aid—Return of Title IV Funds
While Bridgewater College has a refund policy for charges, a separate policy for federal aid exists as described in the “Return of Title IV Funds” regulations published by the U.S. Department of Education.
The amount of aid earned is calculated on a pro rata basis through sixty percent of the payment period. The amount of unearned Title IV aid is then returned to various Title IV aid programs, including Federal Direct Loan, Federal Perkins Loan, Federal PLUS Loan, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant and other Title IV programs. If the student has received any assistance from the Title IV funds in the order listed above, the return of funds will be returned in the order specified by the Department of Education. After sixty percent of the payment period (academic semester) has been completed, all Title IV funds have been earned and continue to be available for payment against institutional charges.
It is possible for students whose accounts were paid in full at the start of a term to owe payment for the balance of charges after the return of Title IV funds is completed. The withdrawal date for use in this process can begin in several different ways. Either the date that the student picks up a withdrawal form from the associate dean for academic affairs, or the date that the student orally or in writing provides an official notification to the institution of their intent to withdraw, can be the valid withdrawal date. If a student gives no official notification, Bridgewater College has the option of using the midpoint of the payment period or a withdrawal date documented with the student’s attendance at an academically-related activity.
Before a student takes any action to withdraw, it would be advantageous to learn the refund policy that the business office will use as well as the implications of any refund of Title IV funds. Any questions concerning this issue should be addressed to the financial aid office. All questions concerning final resolution of the account balance in the student’s account should be addressed to the vice president for finance.