Return of Federal Unearned Funds for Title IV Recipients
Federal financial aid funds (Title IV funds) are awarded with the expectation that you will complete the entire period of enrollment. Title IV Aid includes:
- Stafford Loan
- Parent PLUS Loan
- Pell Grant
You can earn a percentage of the funds that are disbursed with each day of class attendance. When a student who has received Title IV funds leaves school before the end of the semester or period of enrollment, federal law requires that William Peace University calculate the percentage and amount of unearned financial aid funds that must be returned to the federal government. Once you have completed more than 60% of the enrollment period, you are considered to have earned all funding received. This calculation may have the effect of requiring you to repay funds that have already been disbursed to you. A leave of absence may be considered a withdrawal. You are encouraged to meet with the Office of Financial Aid and the Student Services Office prior to making the decision to withdraw from school.
Institutional Refund Policy
The following institutional refund policy applies to:
- Students who are not receiving federal Title IV aid
- Students whose accounts are not cleared after applying the Return of Federal Unearned Funds formula described above.
If you are withdrawing before the end of the semester you will be responsible for the following percentage of tuition and fees for the semester:
- During the second week 40 percent
- During the third week 60 percent
- During the fourth week 80 percent
- After four weeks 100 percent
* Board charges will be refunded based on the number of weeks remaining in the semester after the week of withdrawal.
* Room charges will not be refunded.
* Beginning on the first day of classes, no refunds will be made if a student is suspended for academic or conduct reasons.
Parking permits can be purchased in the fall semester for the entire academic year. If a student begins in the spring semester, or is returning from winter break with a vehicle, they can purchase a parking permit at 50% of the annual rate. Parking permit fees paid are nonrefundable.