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Return to Title IV Refund Policy

Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws (officially or unofficially), the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. A Return of Title IV calculation is required when a Title IV recipient ceases to be enrolled (i.e., 100% withdrawal) prior to the end of a payment period or period of enrollment.

Title IV aid is earned during the time a student is attending North Central Missouri College (NCMC). The percentage of Title IV aid earned is determined by dividing the number of days a student attended by the number of days they were scheduled to attend (minus scheduled breaks of 5 or more days), up to the 60% point. Return of Title IV funds is no longer necessary after that 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 withdraws prior to that 60% point, the student may owe back part of his or her financial aid if it is determined that the student has received an amount larger than the earned amount.  NCMC uses the online worksheet provided through COD by the U.S. Department of Education to calculate the Return to Title IV (R2T4) Funds for each federal aid recipient who officially or unofficially withdraws from all classes.

The formula for the return of the Title IV funds is designed so all of the unearned funds are returned by the school if the student’s institutional charges equal or exceed the amount of Title IV funds disbursed. It is also designed so the institution and the student must each return a share of the funds if the amount of Title IV funds disbursed exceeds the student’s institutional charges.

For illustration purposes, an example of an R2T4 calculation is provided below. This is an example of a student who withdraws and is not intended to represent the current term or a particular student. Also, the example is of a student whose institutional charges exceed the amount of Title IV aid disbursed.

  • Number of days attended:  37
  • Number of days in the semester:  82
  • Earned Title IV aid:  45.1%
  • Unearned Title IV aid:  54.9%
Type of AidNet Aid DisbursedEarned Aid (student keeps)Unearned Aid (returned to Title IV program by the school)
Unsubsidized Loan$990$0$990
Subsidized Loan$1,732$0$1,732
Pell Grant$2,436$2,216$220
FSEOG$200$200$0
Total$5,358$2,416$2,942
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