Title IV Refund Policy
Students "earn" Title IV funds by remaining enrolled for the payment period for which they have been paid federal student aid. Students who begin attendance but, before the end of the payment period, withdraw (either by officially completing the school's withdrawal process or by unofficially dropping out) may lose some of the Title IV funds they received or were scheduled to receive. Depending on circumstances, the school and/or the student may be responsible for reimbursing Title IV programs. The formula that determines the amount of aid a student has earned is outlined in the law. It is separate from and independent of any institutional refund policy.
Lesley University has a Financial Aid Refund Policy for students receiving financial aid who withdraw completely from an academic term/semester or stop attending all of their semester classes and who have been awarded federal financial aid. These students may have an adjustment/reduction in their term or semester federal financial aid award according to calculations mandated by federal regulations and policy. Students considering withdrawing from an academic semester should meet with a representative of the Financial Aid Office to discuss how the decision will impact their finances and to discuss the completion of the Exit Interview process.
The Financial Aid Office is notified of students who have received a "W" grade on the previous day of the term/semester through an Informer Report that is generated on a daily basis. The student's registration for that period of time is reviewed to determine if the student has ceased to be in attendance from all Title IV-eligible courses in the term or the semester. If so, a Return to Title IV (R2T4) calculation will be performed.
Lesley University halts all Title IV disbursements upon learning of a student's withdrawal until a calculation of the amount of aid earned by the student is performed using the Return to Title IV (R2T4) funds formula.
Regarding consortium agreements entered into by Lesley University, the form ensures that the disbursement of Title IV funds will be returned, if required, in the event that the Host Institution reports that the student withdrew before completing the payment period.
Attendance
Lesley University is not required to take attendance. The academic calendar defines for each semester and term the beginning and end dates that will be used in the Return to Title IV (R2T4) calculation.
The calculation of the return of Title IV funds is determined by the date that the student withdraws, which is:
- The date the student began Lesley University's withdrawal process;
- The date the student officially notified Lesley University of intent to withdraw;
- The midpoint of the enrollment period for a student who leaves without notifying Lesley University (an unofficial withdrawal);
- The student's last date of attendance at a documented academically-related activity.
For students who unofficially withdraw, Lesley University uses the midpoint of the payment period as the withdrawal date unless documentation is received to demonstrate attendance in an academically-related activity as defined by the U.S. Department of Education. The unofficial withdrawal date will be determined within thirty (30) days of the end of the payment period.
Non Attendance
Students who never begin attendance in a payment period receive Never Attended (NA) grades and will have all federal Title IV funds canceled. No Return to Title IV (R2T4) calculation will be performed.
Failing Grades
Title IV financial aid recipients who receive all failing grades for a semester will be identified by the Financial Aid Office who will contact the student and request that they provide documentation to show that a failure(s) was academic in nature. If the student cannot provide such documentation, it will be determined that the student "unofficially withdrew." The Return to Title IV (R2T4) calculation will determine if the student received unearned Title IV aid, either in a refund or as a payment for tuition, fees, room, and board, etc. The student will be notified in writing of their revised financial aid award based upon the calculation performed.
Calculation
Students who cease attendance during an academic term or semester and who have been awarded federal financial aid may have their financial aid awards adjusted according to calculations mandated by federal and state regulations and policy. The Federal Return of Funds regulations requires that the Financial Aid Office calculate the amount of financial aid that must be returned to the federal government and other agencies and the amount that can be retained to pay Lesley University billable charges.
Title IV aid and all other aid is earned during the time a student is attending Lesley University. The percentage of aid earned is determined by dividing the number of days a student was enrolled by the number of days in the semester, up to the 60% point. If the student withdraws from all courses after the 60% point in the semester, Title IV aid is viewed as 100% earned. However, if a student completely withdraws prior to or on that 60% point, the student may owe back part of his or her financial aid if the Financial Aid Office determines the student has received an amount larger than the earned amount.
However, effective July 1, 2021, if a student is enrolled exclusively in courses that do not span the entire semester, that student is considered to be enrolled in modular courses. Students who are enrolled in modular courses are not considered to have withdrawn if they successfully complete one module that includes 49% or more of the number of days in the payment period, or a combination of modules that when combined contain 49% or more of the number of days in the payment period. Scheduled breaks of five or more consecutive days and all days between modules are excluded from the number of days in the payment period used to calculate whether the modules(s) completed by the student comprise 49% of the payment period.
If a student drops courses, we will need written confirmation of future attendance. Students must indicate a date on which they will resume attendance. The written confirmation must be submitted no later than 60 calendar days after the student ceased attendance. If we obtain written confirmation from students, no adjustments will be made to their federal aid. If the student withdrawals or never attends the future course, their federal aid could be subjected to R2T4 review/recalculations.
The term "Title IV Funds" include the following programs.
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Iraq and Afghanistan Service Grant
- Federal Direct Subsidized Loan
- Federal Direct Unsubsidized Loan
- Federal Direct Plus Loan (Parent and Graduate)
- Federal Perkins Loan
- Federal TEACH Grant
In accordance with federal regulations, financial aid funds are returned and allocated in the following order:
- Federal Direct Unsubsidized Loan
- Federal Direct Subsidized Loan
- Federal Perkins Loan
- Federal Direct Plus Loan (Parent and Graduate)
- Federal Pell Grant
- Federal SEOG Program
- Other Title IV programs (i.e. Federal TEACH Grant, Iraq and Afghanistan Service Grant)
- Other state, private, and institutional aid
- The student
Lesley University will also return any funds necessary to Title IV programs upon completing the calculation. The student's responsibilities in regard to the return of Title IV funds include repaying to the Title IV or state programs any funds that were disbursed directly to the student for which the student was determined to be ineligible to receive via the Return of Title IV Funds Calculation.
Unearned Aid
Lesley University returns its share of unearned aid no later than forty-five (45) days from the date of determination that the student withdrew.
Post Withdrawal Disbursements
If the amount of earned aid calculated under the return of Title IV funds formula is greater than the amount of aid already disbursed to the student, the funds will be treated as a post-withdrawal disbursement. The post-withdrawal disbursement will be taken from Title IV grant funds before Title IV loan funds.
A letter and email will be sent to the student (or the parent) within thirty (30) days of the date of Lesley University's determination that the student withdrew. The letter and email will request the student confirm they still want the type and amount of the funds. Within forty-five (45) days after determining the student's withdrawal, any amount of the post-withdrawal disbursement of Title IV loan funds not credited to the student's account will be cancelled.
Title IV Credit Balances
The Financial Aid Office will notify the Student Accounts Office to hold any Title IV credit balances until after it has performed the return of Title IV funds calculation prior to the institutional refund policy.