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Return of Title IV Funds

A recipient of federal Title IV financial aid who withdraws or is dismissed from school during a payment period or period of enrollment in which the student began attendance will have the amount of Title IV funds they did not earn calculated according to federal regulations. This calculation will be based on the student’s last date of attendance and the date the school determines that the student has withdrawn from school (see withdrawal policy), or the date of dismissal for a student who is dismissed by the institution.

CTU follows the federal Return of Title IV Funds Policy to determine the amount of Title IV aid a Student has received and the amount, if any, which needs to be returned at the time of withdrawal. Under current federal regulations, the amount of aid earned is calculated on a pro rata basis through 60% of the term. After the 60% point in the term, a Student has earned 100% of the Title IV funds. The University may adjust the student’s account based on any repayments of Title IV funds that the University was required to make. For additional details regarding this policy, please see the University catalog.

Once the amount of Title IV financial aid that was not earned has been calculated, federal regulations require that the school return Title IV funds disbursed for the payment period or period of enrollment and used for institutional costs in the following order:

  1. Loans
    1. Unsubsidized Federal Direct Stafford Loans
    2. Subsidized Federal Direct Stafford Loans
    3. Federal Perkins Loans
    4. Federal Direct PLUS loans received on behalf of the student.
  2. Federal Pell Grants.
  3. ACG
  4. National SMART
  5. Federal SEOG
  6. Other grant or loan assistance authorized by Title IV of the HEA.

If the amount of unearned Title IV financial aid disbursed exceeds the amount that is returned by the school, then the student (or parent, if a Federal Parent-PLUS Loan) must return or repay, as appropriate, the remaining grant and loan funds. The student (or parent, if a Federal Parent-PLUS Loan) will be notified of the amount that must be returned or paid back, as appropriate.

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