Withdrawals, Return of Funds (R2T4)

Financial aid recipients who withdraw from or stop attending class prior to the end of the term are required by federal regulation to return “unearned” funds to the U. S. Department of Education (ED).   The unearned amount to be returned is calculated according to a federal formula that is based on when the student withdrew or stopped attending.  If the student re-enrolls for “late-start” classes in the same semester, it may be possible that the return of funds calculation can be reversed.  Students attending beyond the 60% point of a course are considered to have earned their aid. 

If it is determined that a portion of a student’s aid must be returned, ITCC returns the funds to ED and bills the student.  That balance must be paid before the student can re-enroll or be considered for additional federal aid.  Also, students who have withdrawn from or stopped attending courses are not automatically offered a student loan as a part of any financial aid package from Ivy Tech CC for the next two years of their attendance at ITCC.   Those who re-enroll and wish to be considered for a student loan need to complete a separate Federal Direct Loan Request form, which is available at http://www.ivytech.edu/financial-aid/forms.html.  

Uncompleted courses are counted in the cumulative GPA and completion rate.  Students are urged to consult with their financial aid office before making the decision to withdraw from a course or stop attending.