LCCC Return of Title IV Funds Policy
Students who withdraw from college may be subject to a Return of Title IV Funds which is a reduction in the amount of Title IV financial aid received. Federal aid programs affected by this policy include: Federal Direct Unsubsidized Loans, Federal Direct Subsidized Loans, Federal Direct Parent Loans (PLUS), Federal Pell Grants, Federal Supplemental Educational Opportunity Grants (FSEOG), and Iraq/Afghanistan Service Grants.
There are two types of student withdrawals: Official and Unofficial Withdrawal.
A student is considered to have officially withdrawn if:
- The student submits an Add/Drop form to the Student Hub dropping all enrolled courses. The date of withdrawal is determined based on the date the student submits the form.
- The student submits Add/Drop forms to the Student Hub over the course of the semester such that the student is determined to be no longer enrolled. The date of withdrawal is determined by the latest withdrawal date.
An earlier withdrawal date will be used if LCCC was notified of the student’s intent to withdraw before the student submits the Add/Drop form.
Official withdrawals are calculated within 30 days of the student’s withdrawal.
- Student receives a combination of F (Failed) or U (unsatisfactory), W (withdrawn), and/or I(Incomplete) grades such that at any time during the semester the student can be determined as having ceased to participate in academically-related activity. The last date of attendance is determined based on the latest date of attendance included with the grades above and the end date of the courses for which a passing grade was received.
Unofficial Withdraws are determined within 30 days after the end of each semester.
Title IV aid is earned on a per day basis up to the 60% point of each semester. All Title IV aid is subject to a return of funds up to the 60% point of the semester. After that point, all aid is considered “earned” and will not be returned. Title IV aid is returned in the following order:
- Federal Direct Unsubsidized Loans
- Federal Direct Subsidized Loans
- Federal Direct PLUS Loans (PLUS)
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Iraq/Afghanistan Service Grant
If the calculation of Return of Title IV Funds requires the student to return a portion of financial aid received, LCCC will return the funds on the student’s behalf and the student will owe LCCC. The student can request a detailed copy of the refund calculation from the Student Hub.
The student will receive a letter to their home mailing address when a calculation has been completed indicating the amount of financial aid charged back, the current account balance, and the student’s options for repayment. Questions about the Return of Title IV Funds calculations may be directed to the Student Hub at 307-778-1265 or financialaidFREELARAMIE.
The student is also advised to complete Exit Loan Counseling on the Federal Student Aid website if they have incurred any student loan debt.
In some cases, the student is entitled to a post-withdrawal disbursement. This is financial aid that could have disbursed to the student account. In such cases, the student will be notified that he/she is eligible for the post-withdrawal disbursement. The student must then accept the awards in myLCCC Self-Service to acknowledge consent to disburse the funds to the student account.
The Return of Title IV Funds Calculation Worksheet is used to determine the amount of aid that must be returned.
Questions about this policy should be directed to the Student Hub at financialaidFREELARAMIE or by phone at 307-778-1265.