Return of Title IV Financial Aid
Federal financial aid recipients who are terminated or voluntarily withdraw from the Practical Nursing program before completing more than 60% of the enrollment period, are subject to a proration of any federal aid (Pell Grant and Federal Direct Loans) awarded.
The percentage of earned aid is calculated by the number of clock hours scheduled as of the student's last date of attendance (according to the official school attendance records) divided by the total number of clock hours in the enrollment period.
Treatment of Title IV Aid When A Student Withdraws
The law specifies how your school must determine the amount of Title IV program assistance that you earn if you withdraw from school. The Title IV programs that are covered by this law include Federal Pell Grants, Direct Loans and Direct PLUS Loans.
Though your aid is posted to your account during the school term, you earn the funds as you complete the term. If you withdraw during your period of enrollment, the amount of Title IV program assistance that you have earned up to that point is determined by a specific formula.
The amount of assistance that you have earned is determined on a pro rata basis. Once you have completed more than 60% of the period of enrollment, you earn all the assistance that you were scheduled to receive for that term.
There are some Title IV funds that you were scheduled to receive that cannot be disbursed to you once you withdraw because of other eligibility requirements. For example, if you are a first-time, first-year student and you have not completed the first 30 days of the program before you withdraw, you will not receive any Direct Loan funds that you would have received had you remained enrolled past the 30th day.
The requirements for Title IV program funds when you withdraw are separate from the refund policy (https://www.wflboces.org/adult-and-continuing-education/health-careers/practical-nursing/refund-policy) of Wayne-Finger Lakes BOCES. Therefore, you may still owe funds to the school to cover unpaid tuition charges.
If you have questions about your Title IV program funds, you can call the Federal Student Aid Information Center at 1-800-4-FEDAID (1-800-433-3243). TTY users may call 1-800-730-8913.