Federal Title IV funds are awarded to a student under the assumption that he/she will attend school for the entire period for which the assistance is awarded. When a student withdraws from all his/her courses, for any reason including medical withdrawals, he/she may no longer be eligible for the full amount of Title IV funds that he/she was originally scheduled to receive.
If the student withdraws from all courses prior to completing over 60 percent of a semester, he/she may be required to repay a portion of the federal financial aid that he/she received for that term. A pro rata schedule is used to determine the amount of federal student aid funds he/she will have earned at the time of the withdrawal.
The return of funds is based upon the concept that students earn their financial aid in proportion to the amount of time in which they are enrolled. Under this reasoning, for example, a student who withdraws in the second week of classes has earned less of his/her financial aid than a student who withdraws in the seventh week. Once 60 percent of the semester is completed, a student is considered to have earned all of his financial aid and will not be required to return any funds.
The financial aid office, in accordance with 34CFR Sec. 668.22, calculates and executes the Return of Title IV Funds for any student receiving Title IV Aid and subsequently withdraws before the end of the enrollment period (i.e., term).
To view CUA's procedures for withdrawing from CUA please visit: http://financialaid.cua.edu/withdraws.cfm.