Historically, Erskine College has followed the guidelines
for refunding Federal (Title IV) funds when refunding tuition
and institutional financial aid funds for students withdrawing
from school. Beginning with the 2000 fall semester, the
Federal guidelines will go to a prorated basis instead of
a percentage basis. An example of the refund calculation
is available upon request.
Return of Title IV Funds Federal Policy
The Return of Title IV Funds policy assumes that a student
earns his or her federal aid based on the period of time
he or she remains enrolled. During the first 60% period,
a student "earns" Title IV funds in direct proportion
to the length of time he or she remains enrolled. Unearned
Title IV aid is the amount of disbursed Title IV aid that
exceeds the amount of Title IV aid earned under the new
formula. Unearned Title IV funds must be returned to the
Department of Education according to the new Return of Title
IV funds policy. A student who remains enrolled beyond the
60% point earns all aid for the period. No Federal Title
IV aid will be returned when a student remains enrolled
beyond the 60% period. An example of the new federal refund
calculation is available upon request.
Return of Institutional Funds Refund Policy
The Financial Aid Office will follow the Federal policy
for the return of institutional funds. The Institutional
Policy would assume that a student also earns his or her
institutional aid based on the period of time he or she
remains enrolled. For example, if a student withdraws from
school at the 30% point, the student would have earned 30%
of his or her institutional financial aid for the period.
Therefore, the student would have unearned institutional
aid of 70% and that 70% would be returned to the scholarship
and financial aid budget.
Policy for Tuition Refunds
Tuition and board will be refunded on a pro rata basis
for the time in attendance up to a maximum of 60%. Money
to be returned will be allocated in the following priority:
FEEL programs, Direct Loans, Perkins, Pell, SEOG, other
Title IV programs, State programs, institutional funds and
direct student payments.
No fees are refundable regardless of the cause of withdrawal.
No refund will be made for room rent if the room is occupied
for one day.
No refund for tuition, room and fees will be made to the
student who is asked to withdraw for academic or disciplinary
reasons. Board refund will be determined on a pro rata basis
for the time in attendance.
Refunds for meals missed as a result of required work,
including off-campus internships, teacher education, and
other extended time periods, will be at the rate of the
refund allowed by ARAMARK Campus Dining Services. Short-term
field trips, etc., will not qualify for refund. No refund
of room rent will be made.
Title IV refunds will be allocated in the following priority:
FEEL programs, Direct Loans, Perkins, Pell, SEOG, other
Title IV programs, and to the student. Money to be returned
to the institutional programs will be allocated back to
each fund on an equal percentage basis.
