Return of Title IV Funds

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This policy applies to any student who is a recipient of Federal Title IV financial aid and completely withdraws from the University (or ceases attendance in all classes) after beginning attendance for the semester. Per federal regulation (34 CFR 668.22), the University is required to determine the amount of Federal Title IV funds the students has earned based on the student’s withdrawal date and return any unearned Title IV funds to the federal aid programs. Title IV aid subject to the return of funds calculation includes: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), TEACH Grant, Direct Subsidized and Unsubsidized Loans, and Direct PLUS loans.

Calculating Earned Financial Aid

The amount of earned financial aid is calculated on a daily basis from the first day of classes. The calculation uses calendar days, not business days, so weekends are also included. Earned financial aid is calculated by taking the number of days attended divided by the total number of days in the term (first day of classes through the last days of finals). Breaks of five days or more are not included, therefore Thanksgiving break and spring break will not count in the total number of days during fall and spring semesters respectively. Students withdrawing after 60% of the term has passed will have no unearned financial aid, which means that no funds will be returned to the federal aid programs.

Official Withdrawal

A student’s official withdrawal is determined by the date the student contacts their dean’s office, the registrar’s office or the financial aid office and indicates their intent to withdrawal. The earliest date will be used in the case of a student beginning the official withdrawal process and notifying the school of intent to withdrawal on different dates. A documented last date of attendance in an academically-related activity will be used in the case of a student who ceased academically-related activity prior to beginning the official withdrawal process or notifying ��Ƶ of their intent to withdrawal.

Unofficial Withdrawal

If it is later determined that the student stopped attending classes and unofficially withdrew before the 60% point of the term, the Office of Financial Aid will calculate the amount of financial aid earned by the student using the last date of any academic-related activity. ��The Office of Financial Aid also reviews grades at the end of each semester. Any student failing all courses will be further evaluated to determine if the student completed courses or if the student unofficially withdrew. The Office of Financial Aid may contact the Registrar’s Office, student’s college dean’s office and/or professors to confirm the student’s last day of academic activity. If this cannot be established, the Office of Financial Aid will calculate earned financial aid based on attendance through 50% of the term.

Calculating the Return of Title IV Amount

Once the earned and unearned financial aid percentages are determined, the Office of Financial Aid calculates the dollar amount of unearned aid that must be returned to the federal aid programs. The return of aid amount is calculated by multiplying the unearned aid percentage by the total of all Title IV aid received.

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Example

An undergraduate student withdraws from classes 45 days after fall semester begins. Fall semester is 108 days total in length. The earned aid percentage is 41.7% (45 ÷ 108) so the unearned aid percentage is 58.3% (100% – 41.7%). The student received a total of $2,722 in Title IV aid.

Total unearned aid that must be returned = 58.3% x $2,722 = $1586.93

The Office of Financial Aid uses standard rounding before determining the amount to return so $1587 of the student’s Title IV aid would be returned to the federal aid programs in the order listed below.

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Order of Return of Title IV Funds

Title IV funds will be returned to the federal aid programs in the following order, up to the net amount disbursed from each source:

Unsubsidized Direct Loans
Subsidized Direct Loans
Direct PLUS Loans
Federal Pell Grants
Iraq and Afghanistan Service Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
TEACH Grants

Timeframe for Calculation and Return of Funds

The Office of Financial Aid will calculate and return unearned Title IV funds to the U.S. Department of Education as soon as possible but no later than 45 days of the date that the university determined the student withdrew. Unearned Title IV funds will be removed from a student’s account, which may create a balance owed to Ohio Northern University.

Post-Withdrawal or Late Disbursements

If the amount of Title IV funds earned by the student is more than the amount disbursed at the time the student withdrew, the student may be eligible for a post-withdrawal disbursement. The student must meet several conditions in order to qualify for the post-withdrawal disbursement.

If the student is eligible for a post-withdrawal disbursement from grants funds, those grant funds will be disbursed to the student’s account within 45 days of the student’s withdrawal.
If the student or parent is eligible for a post-withdrawal disbursement from Title IV loans funds, the Office of Financial Aid will notify the student or parent and require a response in writing, before making the disbursement to the student’s account. Notification of loan eligibility will be made within 30 days of the student’s withdrawal. The student or parent will have 30 days to send a written response to accept or decline the loan funds. If no response is received within this timeframe, the loan will be canceled.

Credit Balance

If a credit balance is generated as a result of a Return of Title IV funds calculation (including post-withdrawal disbursement) in combination with the calculation of university charges, the credit will be issued to the student within 14 days in one of two methods. A student who has set up direct deposit with the university will receive their credit balance in their bank account. If the student has not signed up for direct deposit a check for the credit balance will be mailed to the student’s permanent mailing address on file in the student information system.

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Repayment Process

A student who owes the U.S. Department of Education for an overpayment of Title IV funds are not eligible for any additional federal financial aid until the overpayment is pain in full or payment arrangement have been made with the U.S. Department of Education.

A student who owes Ohio Northern University as a result of a Return of Title IV calculation in combination with the calculation of university charges will be placed on a financial hold by the Bursar. Students will not be allowed to register for subsequent semesters until the balance is paid in full, or until payment arrangements have been made with the university Bursar.

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Treatment of Other Financial Aid

All state of Ohio financial aid will be returned using the same formula described above for Title IV financial aid. If a student withdrawals and has received an external scholarship from an outside organization, the Office of Financial Aid will consult with that organization regarding how/if the funding should be returned.

All Ohio Northern scholarships, grants and awards will be returned for the 2024-25 academic year using the schedules listed below.

Undergraduate Students/P5 and P6

Fall 2024 Withdraw Date	Spring 2025 Withdraw Date	Percent of Tuition Refunded and Financial Aid Returned
On or before 8/26/24	On or before 1/21/25	100%
8/27/24 - 8/30/24	1/22/25 - 1/25/25	95%
8/31/24 - 9/5/24	1/26/25 - 1/31/25	90%
9/6/24 - 9/16/24	2/1/25 - 2/10/25	80%
9/17/24 - 9/27/24	2/12/25 - 2/21/25	70%
9/28/24 - 10/7/24	2/22/25 - 3/4/25	60%
10/8/24 - 10/18/24	3/5/25 - 3/24/25	50%
10/19/24 - 10/28/24	3/25/25 - 4/3/25	40%
On or after 10/29/24	On or after 4/4/25	No refund

Law

Fall 2024��Withdraw Date	Spring 2025��Withdraw Date	Percent of Tuition Refunded and Financial Aid Returned
On or before 8/26/24	On or before 1/23/25	100%
8/27/24 - 8/30/24	1/24/25 - 1/27/25	95%
8/31/24 - 9/4/24	1/28/25 - 2/2/25	90%
9/5/24 - 9/15/24	2/3/25- 2/12/25	80%
9/16/24 - 9/25/24	2/13/25 - 2/23/25	70%
9/26/24 - 10/6/24	2/24/25 - 3/5/25	60%
10/7/24 -10/16/24	3/6/25 - 3/25/25	50%
10/17/24 - 10/26/24	3/26/25 - 4/4/25	40%
On or after 10/27/24	On or after 4/5/25	No refund

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Calculation of University Charges

Tuition

Students withdrawing on or before the first day of classes each semester are granted a 100% refund of tuition.�� Tuition charges are prorated from that point forward (using the chart above).�� During the first week of classes, tuition will be prorated 5%.�� After the first week of the semester has passed, tuition refunds are calculated through the Controller’s Office using 10% increments through the 60% point of each semester.�� There is no proration of charges after the 60% point of each semester.

Note: The refund information above applies to Fall and Spring terms only. During January term, no refund of any type will be issued after the first day of the term.�� There is a refund proration for Summer term, but the refund schedule is dependent upon the part of term in which the student is enrolled, rather than following the policy outlined above.��

Fees

Students will be responsible for the full amount of General Student Fee and College of Engineering Program Fee charges.�� There is no refund given for these fees.�� Course fee charges are refunded at 100% through the last day to add a class or section for each term.�� There is no proration of course fee charges given after this day.�� Please review the college calendar for your program to determine when the last day to add a class or section occurs for each term. ��

Room and Meal Plan

The student’s room and meal plan charges will be prorated based on the day the student moves out of the room and ceases use of the meal plan. This calculation is made by the Office of Residence Life.

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