2020-21 Undergraduate Academic Catalog

Federal regulations state that a student must attend past the 60% point of the semester in order to earn 100% of their federal financial aid. Students are issued financial aid before 100% of their aid is earned. This is in “good faith,” meaning that students are expected to follow through by attending and completing all classes. When a recipient of Title IV aid withdraws from an institution during the semester in which the recipient began attendance, the institution must determine the amount of the Title IV grant or loan assistance (not including Federal Work Study) that the student earned as of the student’s date of withdrawal. Federal Regulations mandate that a school perform a “Return to Title IV” calculation for federal aid recipients who withdraw from all classes or receive Financial Aid unearned ‘F’. This calculation determines how much federal aid a student has earned up to the date of withdrawal. If more assistance is received than what is earned, the unearned funds must be returned. The requirements for the “Return to Title IV” calculations are separate from Cedarville University’s refund policy. In accordance with federal regulations, when financial aid is involved, return of T-IV funds are allocated in the following order: 1. Unsubsidized Federal Direct Stafford Loan 2. Subsidized Federal Direct Stafford Loan 3. Federal Direct PLUS Loan 4. Federal Pell Grant 5. Iraq and Afghanistan Service Grant 6. Federal Supplemental Educational Opportunity Grant (FSEOG) 7. Other Title IV Assistance Responsibility of the University Cedarville University Office of Financial Aid responsibilities in regard to the Return of Title IV funds include • Providing each student with information given in this policy. • Identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for those students. • Returning any Title IV funds that are due to the Title IV programs as soon as possible, but no later than 45 days from the determination of a student’s withdrawal. • Offering a post-withdrawal loan disbursement within 30 days of the date the school determined the student withdrew and issuing a post-withdrawal grant disbursement within 45 days of the date the school determined the student withdrew, if a student has eligibility for the Title IV funds. • Though Cedarville University is not required to take attendance, instructors are expected to monitor enrollment regularly and notify the registrar’s office of non-attendance. • The registrar’s office contacts the student and the instructor to determine the last date of academic related activity. Responsibility of the student The student’s responsibilities in regard to the Return of Title IV Funds include • Returning to the Title IV programs the dollar amount of any funds disbursed directly to the student subsequently determined to be ineligible via the Return of Title IV Funds calculation. • Official withdrawal information is found in the online catalog (page 30). Special Provisions for Books and Supplies Federal regulations (34 CFR 668.164(i))dictate that if an undergraduate student has a T-IV credit balance on their account 10 days prior to the semester, they are able to use their credit balance amount to obtain their books and supplies through the 7th day of the payment period. The school may use the actual costs of books and supplies or allowance for those materials used in estimating the student’s cost of attendance for the period. A student may opt out of the book voucher by simply not utilizing the established process in place. If a student does opt out, your T-IV credit balance will be issued to you through the normal process. In addition, Cedarville University allows all undergraduate students to receive a voucher for books and supplies. There is a $1,000 cap on the limit. If a student has an invoice above this amount, on a case-by-case basis, with Cashier authorization, the limit may be increased. The timeframe to use the voucher is from the first week of August through the first week of September. Page 314 2020–21 Undergraduate Academic Catalog Financial Information Financial Information