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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