Return of Funds

Students receiving federal financial aid (referred to as Title IV financial aid and includes awards such as Pell, SEOG and Direct Loans) who find it necessary to withdraw from all classes may be required to return a portion, or all, of their Title IV funding. Additionally, students who have failed or stop attending their classes may also be required to return a portion, or all, of their Title IV funding.

To determine the amount of aid to be returned, a U.S. Department of Education regulated calculation will be performed. Return of Title IV (R2T4) calculations vary based on your period of enrollment. Prior to officially withdrawing, you should carefully review the satisfactory academic progress requirements to assure that this will not affect your future financial aid.  Returns will be calculated within 30 days of your last date of attendance or date the University determined you had withdrawn, whichever is later.  Funding will be calculated and returned within 45 days of the determined last date of attendance date.  For online students the last date of interaction is used.  This can be in many forms including emails to a professor, gradable event, or forum post.

If you do not officially withdraw, but do not complete all your classes within a semester, you will be reviewed for an R2T4 calculation.  This includes any combination of (F) or (I) grades as well as non-attendance.  These grades will trigger the process and your last date of attendance will be determined based on your learning environment.  For in-class settings your attendance will be determined based on the last day you were physically in class.  For online classes, it will be determined by the last academic interaction you were engaged in.

If you have withdrawn before receiving the funding that you are eligible for, you may be eligible for a post-withdrawal disbursement.  This amount will be calculated using the same criteria as Return of Title IV calculations follow.  You will be notified via mail of any outstanding requirements you may need to complete.  If this funding includes loans, you will have to authorize the receipt of this funding.

Traditional undergraduate

If you are enrolled in the traditional undergraduate program, the Return of Title IV calculation is as follows:

  • Number of days completed ÷ by number of days in semester = percentage completed

If you complete 60% or less of your scheduled enrollment period, a portion of your Title IV aid is required to be returned. The number of days completed is determined by the official withdrawal date provided by the University Registrar. This date is dependent on the last date of an academically related event.

College of Professional Studies, graduate and doctoral

If you are enrolled in the College of Professional Studies or the graduate and doctoral programs, the Return to Title IV calculation is as follows:

  • Number of days completed ÷ number of days in session = percentage completed

If you complete 60% or less of your scheduled enrollment period, a portion of your Title IV aid is required to be returned. The number of days completed is determined by the official withdrawal date provided by the University Registrar. This date is dependent on the last date of an academically related event.

Returns and notification

In the event that a portion, or all, of your Title IV aid must be returned, Indiana Tech will return aid in the following order:

  1. Unsubsidized Direct Loan
  2. Subsidized Direct Loan
  3. Federal Perkins Loan
  4. Parent Loans for Undergraduate Students (PLUS)
  5. Federal Pell Grants
  6. Other Title IV Assistance

Students affected by a Return of Title IV calculation will be notified on an individual basis via U.S. mail. The Return of Title IV calculation may result in a balance due to Indiana Tech. Please contact the Business Office directly to resolve any outstanding balances.