This refund policy applies to all full-time and part-time students enrolled at Fitchburg State University who are receiving Federal Title IV Financial Aid and withdraw from all classes.
This policy is mandated by federal regulation.
This policy deals only with the percentage of aid that is earned by a student. Charges incurred by a student who withdraws from the university are determined in accordance with the Institutional Refund Policy.
All matriculated undergraduate students that wish to withdraw from the university must do so by contacting the Student and Academic Life office. The official date of withdrawal for this policy is the date that you begin the official withdrawal process, or the date that you officially notify the university of your intent to withdraw.
Refund of Federal Title IV Financial Aid will be based on the date you completely withdraw from the university. During the first 60% of the semester you earns Title IV funds in direct proportion to the length of time that you remained enrolled.
If you remain enrolled beyond the 60% point then you earn all aid for the semester.
The percentage of the semester that you remain enrolled is found by dividing the number of days that you remained in attendance by the number of days in a semester.
Calendar days are used, but breaks of at least 5 consecutive days are excluded from both the numerator and denominator.
Unearned Federal Title IV Aid other than Federal Work Study must be repaid in the following order:
- Federal Unsubsidized Direct Loan
- Federal Subsidized Direct Loan
- Federal Perkins Loan
- Federal Parent (PLUS) Loan
- Federal Pell Grant
- Federal SEOG
- Other Title IV Financial Aid
You must repay 100% of unearned loans according to the terms of their Promissory Note. 50% of unearned grants must be repaid within 30 days of withdrawal from the university.
An example of the Return of Title IV Funds Policy is available in the Financial Aid Office.
It is very possible that if you receive federal financial aid and withdraw from the university to owe a balance to the Fitchburg State Student Accounts Office and may be required to repay funds to the U.S. Department of Education.
If you are considering withdrawal from Fitchburg State, we advise you to contact the Financial Aid Office in order to ensure you understand all the outcomes.