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Return of Title IV Federal Funds Policy

 



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Return of Title IV Federal Funds Policy (R2T4)

The Return of Title IV Federal Funds Policy (R2T4) applies to students who have received federal financial aid assistance and have officially or unofficially withdrawn from Nicolet Area Technical College (NATC). Federal financial aid assistance includes the PELL Grant, Supplemental Education Opportunity Grant (SEOG), Direct Student loans (subsidized or unsubsidized) and Plus loans for parents. The official withdrawal date is defined as the actual date the student begins the college’s withdrawal process or the student’s last date of academically related activity. The mid-point of the term is used for unofficial withdrawals.

The amount of the federal financial assistance that a student earns is determined on a pro-rata basis. Once the student has completed sixty percent (60%) of the term, all financial aid is considered to be earned. The 60% refund dates are:

Fall 2013                         November 1, 2013

Spring 2014                    April 4, 2014

Summer 2014                July 11, 2014

If a student withdraws from school before 60% of the term has been completed or does not officially withdraw and receives all failing grades for the term, the Financial Aid Office will calculate the amount of unearned financial aid and return the funds in the following refund distribution order: Unsubsidized Direct Loan, Subsidized Direct Loan, Direct Plus Loan, Federal PELL Grant, SEOG, and Other Title IV assistance programs.

If a student receives all F grades for a term, they will be considered an unofficial withdrawal. If a student receives all F grades for a term, but attended at least one class the entire term and “earned” the grade of F, the student will not be considered an unofficial withdrawal and no aid will be returned. If the student received financial aid and failed to attend classes, they are considered a “no show” and have not established eligibility for any financial aid. No shows must repay in full any funds received.

Nicolet College must return the Title IV funds to the programs from which they received it during the period of payment or period of enrollment, as applicable, up to the net amount disbursed from each source.

The student will be billed for the funds that Nicolet College is required to repay.

Consult with the Financial Aid Department prior to any withdrawal to discuss your situation or if you have any questions regarding your financial aid. Students who want to dispute an amount should address all concerns in writing to the Director of Financial Aid, Nicolet College, PO Box 518, Rhinelander, WI 54501.