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Return of Title IV Funds, Policy and Regulations
A portion of Title IV grant or loan funds must be returned to the
Title IV programs upon a Title IV recipient’s withdrawal from the
school.
Withdrawal date
The day the student withdraws is the date (determined by the
school):
• The student began the withdrawal process prescribed by the
school;
• The student otherwise provided the school with official
notification of the intent to withdraw; or
• For the student who does not begin the school’s withdrawal
process or notify the school of the intent to withdraw, the mid-
point of the period of enrollment for which Title IV assistance
was disbursed (unless the institution can document a later
date).
Percentage of the payment period or period of enrollment
completed
This calculation is derived by dividing the number of days the
student completed into the total number of days in the semester.
Calculation of Title IV assistance earned
Up through the 60% point of time, the percentage of assistance
earned is equal to the percentage of the period of enrollment
for which it was awarded that was completed as of the day the
student withdrew. If the student withdrawal occurs after the 60%
point, then the amount is 100%.
Responsibility of the school
The school shall return the lesser of the unearned amount of
Title IV assistance or an amount equal to the total institutional
charges the student incurs for the period of enrollment of
which the assistance was awarded, multiplied by the unearned
percentage of awarded Title IV grant and loan assistance.
Responsibility of the student
Students shall return unearned Title IV assistance minus the
amount the school returns.
Order of return of Title IV funds
Excess funds returned by the school or student are credited to
outstanding Title IV loan balances for the student or made on the
student’s behalf for which a return of funds is required. Excess
funds must be credited to outstanding balances in the following
order:
1. Unsubsidized Stafford loans
2. Subsidized Stafford loans
3. Federal Perkins loans
4. Federal PLUS loans
5. Federal Pell grant
6. Federal SEOG grant
7. Federal TEACH grant
Veterans Training Benefits and Dependents Educational
Assistance
Cedarville University is approved under Title 38, Chapters
30, 31, 32, 33, 35, 1606 and 1607, U.S. Code for Education of
Veterans and Their Dependents. Students under Chapters 30,
32, 35, 1606, and 1607 are required to pay the school for all
charges. The Veterans Administration in turn pays them a monthly
allowance based upon their training load. Veterans under Chapter
31 are paid a monthly allowance and the Veterans Administration
pays the school for tuition, fees, books, and supplies. Cedarville
University is a participant in the VA Yellow Ribbon Program. Those
students eligible to receive Chapter 33 Post-9/11 benefits may
qualify to receive benefits through the VA Yellow Ribbon program.
Inquiries concerning eligibility should be directed to the contact
office of a Veterans Administration Regional Office. Students
planning to study under one of the education laws should
receive approval prior to enrolling. A Veterans Administration
training officer will contact the University in the disabled cases to
accomplish this requirement for the student.
Cedarville University students eligible for veterans benefits
should contact the veterans benefits counselor in the Office of the
Registrar.
Deferred Payment Plan for Veterans
For Option Deferred Payment Plan for Veterans (under Chapters
30, 31, 32, 33, and 35) receiving the Educational Assistance
Allowances, consult the Office of the Registrar.
Payments by veterans receiving their Educational Assistance
Allowance checks one month behind will be as follows:
Fall Semester:
1st payment by 10/4
2nd payment by 11/1
3rd payment by 12/1
Final payment by 1/1
Spring Semester:
1st payment by 2/4
2nd payment by 3/1
3rd payment by 4/1
Final payment by 5/1
A late payment charge of $25 is applicable for accounts unpaid
after the payment due date.
Veterans receive eight monthly VA checks that must pay for
eight deferred payments on the semester system.
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2015–16 Undergraduate Academic Catalog
Financial Information
Financial Information