These regulations govern the return of Title IV (Federal financial aid) funds disbursed for a student who completely withdraws from a term, payment period, or period of enrollment.
University of Massachusetts Dartmouth adheres to Federal policy regarding Return of Title IV (Federal financial aid) funds.
Return of funds policies are fair and equitable and applied uniformly. UMass Dartmouth will use the forms and software developed by the U.S. Department of Education in determining the refund due to the Title IV and other financial aid programs and in determining any repayment due from the student. UMass Dartmouth will also use formulae developed by OSFA in determining return of Massachusetts state financial assistance.
Withdrawal information is obtained from the Registrar's Office in line with UMD withdrawal policies. Date of withdrawal is recorded on the University administrative computer system. The date of withdrawal used to calculate the last date of attendance will be the effective date of withdrawal noted in the University computer records.
Students who withdraw during the add/drop period will undergo a Return of Title IV funds calculation even though no institutional charges may have been assessed. Their official date of withdrawal will be noted on the administrative computer system and will be used in the refund calculation process, as follows: 1.) An otherwise eligible student who began attendance at UMass Dartmouth and was disbursed or could have been disbursed Title IV grant or loan funds prior to a withdrawal has earned a portion of those Title IV funds and must undergo a return of Title IV fund calculation; or 2.) If the student began attendance but was not and could not have been disbursed Title IV grant or loan funds, the student is not considered to have been a Title IV recipient and a return of Title IV funds calculation is not required.
The last date of attendance for students who complete a University withdrawal form will be the date submitted or the date of the last documented academically related activity, whichever is earlier. Students who leave without completing an official withdrawal form or for whom an official withdrawal form is not completed will have their last date of attendance be the date of the last documented academically related activity.
Students who withdraw before 60% of the term is completed will have their Federal financial aid eligibility calculated in direct proportion to the length of the enrollment. The percentage of time the student remained enrolled is the percentage of disburseable aid for that period that the student earned. A student who remains enrolled beyond the 60% point earns all aid for the period.
The responsibility to repay unearned aid is shared by UMass Dartmouth and the student in proportion to the aid each is assumed to possess. UMass Dartmouth's share is the lesser of the total amount of unearned aid or institutional charges multiplied by the percentage of aid that was unearned. The student's share is the difference between the total unearned amount and the institution's share.
The return of Title IV funds will be in the following order:
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- Perkins Loan
- PLUS Loan
- Pell Grant
Other Title IV Programs
After the student's share is fully allocated among the Title IV programs, any amount owed to a grant program is reduced by half.
Return of Federal (Title IV) funds calculation is performed independently of institutional costs incurred for the period of enrollment.
UMass Dartmouth will return its share of unearned Title IV funds no later than 45 days after determination of withdrawal.
The student may be entitled to a post-withdrawal disbursement of Federal financial aid if the return of funds calculation indicates that the student earned more aid than was disbursed prior to withdrawal. Post-withdrawal disbursements will be credited first toward unpaid institutional charges. Any portion of a post-withdrawal disbursement that exceeds unpaid institutional charges will be offered as a disbursement to the student. Students must accept this disbursement within 14 days of the offer. If a response is not received or if the offer is declined, these excess funds will be returned to the appropriate Title IV program.
Non-Title IV Funds
UMass Dartmouth will calculate return of non-Title IV funds in accordance with the appropriate institutional and state refund policy. Refunds (after Title IV aid has been included in the formula) will be made to programs in the following order: state, institutional, private.
UMass Dartmouth follows policy guidelines developed by the Massachusetts Office of Student Financial Assistance (OSFA) in governing return of state funds. Categorical waivers will be retained up to the amount of tuition charged. Other state funds will be returned in the order specified by OSFA in line with policy guidance.
Institutional funds will be returned on a case-by-case basis upon appropriate administrator review of financial assistance awarded and balance due.