Federal Title IV Refund Policy
West Georgia Technical College is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.
If a student leaves the institution prior to completing 60% of a payment period or term, eligibility for Title IV funds is recalculated. This recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula.
If a student earned less aid than what was disbursed, the College would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution. If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student's withdrawal.
The College must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student’s withdrawal.
Refunds are allocated in the following order:
- Unsubsidized
- Subsidized Federal Stafford Loans
- Federal Pell Grant
- Federal Supplemental Opportunity Grants for which a Return of funds is required