Students should refer to the Financial Aid page for current tuition and fee rates.
STUDENT BILLING AND FINANCIAL AID POLICIES
A. WITHDRAWAL AND REFUND POLICY
Section 1: General withdrawal and refund policy guidelines
The U. S. Department of Education requires that Midland’s participation in Title IV federal financial aid programs must have a fair and equitable refund policy. In the event that a student finds it necessary to withdraw or fails to complete the period of enrollment for which federal aid was intended, Midland University refunds unearned tuition, fees, room and board and other charges in accordance with the policies below. Sections 1 through 7 provide the basic summary of the process, while the additional sections provide more details on specific aspects of the withdrawal, refund and return of funds processes.
If the student ceases enrollment at Midland University prior to the end of a semester or term, depending on the date the student ceases studies, the student may be entitled to a partial refund of those charges. The refund may be applied to an outstanding balance on the student’s account. If the refund results in a credit balance on the account, the credit will be refunded to the student.
Upon notification that a student has withdrawn, the Financial Aid Office will calculate the student’s earned and unearned aid. The student will be notified of any funds returned by Midland University to the aid programs, as well as any repayment for which the student is responsible. Calculation examples can be found in this document and in the Student Handbook.
Withdrawal Before Beginning of Term
Students, not faculty or staff, are responsible for registering, dropping, or withdrawing from classes at Midland University in accordance with the policies and procedures outlined in this document. This is the sole responsibility of the student. If a student does not attend classes, the courses will remain on the student’s record and the student will owe all tuition and fees for the courses. If a student registers for classes and decides to attend another institution, the student must drop the Midland University class before the 100% refund deadline or the student will be responsible to pay the appropriate tuition and fees. No exceptions will be made, however, certain special circumstances may be considered.
Special Circumstances
Students called to active duty in the Armed Forces of the United States, or leaving Midland University because of illness or other causes beyond their control, may receive special consideration. Each case will be considered individually. The Midland University President, COO, or CFO may authorize tuition, room and board refunds on a pro-rata basis or other adjustments as considered necessary given the circumstances. The decision of the Officer is final. Exceptions apply only to the refund of Midland charges and do not affect the outcome of the federally mandated recalculation of eligibility for recipients of federal financial aid, unless the student qualified for an approved leave of absence. The leave of absence policy is described later in this document, and if approved for the student, those provisions apply.
Voluntary Withdrawal
Students who withdraw voluntarily receive no refund of the application, matriculation, university or special fees.
Dismissal/Suspension
Students dismissed from Midland University for inattention to their studies or infringement of Midland University rules are allowed no refunds of any kind, other than those provided by the withdrawal policy applicable to them. The student’s financial aid eligibility will be based on his/her last date of attendance and will be adjusted accordingly.
Incomplete Aid Processing
Any student who has not completed the financial aid process as of the last date of attendance may forfeit eligibility for financial assistance during that period of enrollment.
Additional Charges
Students may incur other expenses for which they will be personally responsible and for which no refund is required. These may include, but are not limited to, any fines, telephone charges, insurance fees, damages, charges for storage, shipping or incomplete checkouts. Deposits are non-refundable after May 1st.
Section 2: Return of Federal Title IV, State and/or Midland Funds
Federal law specifies how Midland University must determine the amount of Title IV assistance a student has earned if he/she withdraws from school. The Title IV programs that are covered by this law are: Pell Grants, FSEOG Grants, TEACH Grants, Direct Loans, PLUS Loans, and Perkins Loans. In calculating the days enrolled, all calendar days in an enrollment term are used, except any scheduled breaks of at least five days in length.
When a student withdraws during a payment period or term, the amount of assistance that is earned up to that point is determined by a specific formula. A student who received less assistance than the amount earned may be able to receive additional funds. If a student received more assistance than was earned, the excess funds must be returned by Midland University and/or the student.
The amount of federal assistance that is earned is based on the following federally mandated pro-rata calculation:
Days Attended in the Period, (based on the last day of class attendance) ÷
Total Days in the Period
If the amount of aid disbursed exceeds the amount of earned aid, the unearned portion of the funds must be returned to the Title IV programs first in the following order:
Unsubsidized Federal Direct Loan
Subsidized Federal Direct Loan
Federal Perkins Loan
Federal or Direct PLUS Loan
Federal Pell Grant
Federal SEOG Grant
Federal TEACH Grant
A student who did not receive all funds that were earned may be eligible for a post-withdrawal disbursement, depending on their aid status at the time of the withdrawal. Any post-withdrawal disbursement of funds will first be automatically credited toward any unpaid charges for tuition, fees, room and board.
If the amount to be returned exceeds the amount that Midland University is required to return, the student has an obligation to return the remaining amount. Any loan funds that must be returned by the student are repaid according to the terms of the promissory note. If a repayment is due to a grant program, the student is required to pay only half of the remaining unearned amount.
When students fail to earn a passing grade in any class during a period of enrollment
Midland University’s general academic policy assumes that all “F” grades are earned by the student. If a student who began attendance and has not officially withdrawn fails to earn a passing grade in at least one course offered over an entire period, Midland University will assume, for Title IV purposes, that the student has unofficially withdrawn, unless the institution can document that the student completed the period. Midland will first attempt to document the student’s last date of attendance at an academically related activity. If documentation is unavailable, the midpoint of the period as the student’s withdrawal date will be used to determine any federal refunds or repayments due back to the U.S. Department of Education.
Section 3: Midland and State Aid Credits and Returns
Midland and state aid for traditional programs is based on the % of the charges assessed. For example, if a student was charged 40% for his or her term, 40% of the student‘s combined Midland and state aid would be applied toward the student’s charges.
Students who withdraw from a non-standard term Master’s program are not entitled to any Midland aid that may have been awarded for that term. Those funds will be refunded 100% to their respective programs.
Any additional refunds will be returned in the following order:
State funds
Midland funds (scholarships and grants from Midland University)
Outside scholarship program
The student
Section 4: Process
In order to withdraw from all classes at Midland University, a student should contact their advisor in the Student Success Center. The advisor will provide the student with a link to submit an exit packet to formalize their withdrawal from the University. Once the student has completed and submitted the exit packet, the student is considered officially withdrawn from the University and a review of the student’s enrollment at Midland University will be conducted. The review will consist of determining the student’s last date of attending class or academic-related activity, as determined by the appropriate faculty member teaching the coursework.
If Midland University is not notified by the student of their withdrawal from the University, Midland will determine the student’s date of withdrawal to be the last day of the term.
Please note, the date of withdrawal is different from the “Last Date of Attendance” used for Financial Aid purposes in calculating Return to Title IV funds.
Section 5. Tuition and Fees*
Refund Determination for All Students (Undergraduate & Graduate)
Withdrawal Date | Refund Percent |
Prior to the term start date | 100% |
Within the second week (calendar days 1-8) | 100% |
Within the third week (calendar days 9-15) | 75% |
Within the fourth week (calendar days 16-22) | 50% |
After the fourth week (after calendar day 22) | 0% |
*Technology and activity fees only.
Housing and Meal Plan Refund Determinations
Housing and meal plan refunds will follow the refund schedule presented in the Midland University Housing Contract. Once you have officially withdrawn from the University by submitting your Exit Packet, you will have 48 hours to check out of housing. If you do not check out within 48 hours, Midland University will no longer use your official withdrawal date to determine your housing and meals refund amount, but will instead use the date that you check out of housing.
Section 6: Withdrawal Date Definitions
The official withdrawal date will be used by Midland University to determine the student’s financial responsibility for charges and refunds on their student bill.
The official withdrawal date will be the date that the student completes and submits the Midland University Exit Packet.
If a student leaves Midland University without completing the Exit Packet form, the official withdrawal date will be the last day of the term.
The official withdrawal date used by Midland University may or may not align with the “Last Date of Attendance” that is used for the Return to Title IV (R2T4) calculation regarding federal financial aid.
No accrediting agency requires that attendance be taken. However, class attendance or non-attendance is verified by the census date each term to determine enrollment. Faculty may choose to use various methods to document attendance and to evaluate student progress throughout the year.
The Academic Affairs Department will confirm the last date of class attendance or academic-related activity and will forward that information to the Financial Aid Office for R2T4 review consideration.
Section 7: Approved Leave of Absence
For purposes of this section (and, for a Title IV, HEA program loan borrower, for purposes of terminating the student’s in-school status), Midland does not have to treat a leave of absence as a withdrawal if it is an approved leave of absence. A leave of absence is an approved leave of absence if:
Midland has a formal policy regarding leaves of absence.
The student followed Midland’s policy in requesting the leave of absence.
Midland determines that there is a reasonable expectation that the student will return to the school.
Midland approved the student’s request in accordance with Midland's policy.
The leave of absence does not involve additional charges by Midland.
The number of days in the approved leave of absence, when added to the number of days in all other approved leaves of absence, does not exceed 180 days in any 12-month period.
Upon the student’s return from the leave of absence, the student is permitted to complete the coursework he or she began prior to the leave of absence.
If the student is a Title IV, HEA program loan recipient, Midland explains to the student, prior to granting the leave of absence, the effects that the student’s failure to return from a leave of absence may have on the student’s loan repayment terms, including the exhaustion of some or all of the student’s grace period.
If a student does not resume attendance at Midland at or before the end of a leave of absence that meets the requirements of this section, Midland must treat the student as a withdrawal in accordance with the requirements of this section.
For purposes of this paragraph:
The number of days in a leave of absence is counted beginning with the first day of the student’s initial leave of absence in a 12-month period.
a.) A “12-month period” begins on the first day of the student’s initial leave of absence.
Midland's leave of absence policy is a “formal policy” if the policy:
a.) Is in writing and publicized to students; and
b.) Requires students to provide a written, signed, and dated request that includes the reason for the request, for a leave of absence prior to the leave of absence. However, if unforeseen circumstances prevent a student from providing a prior written request, Midland may grant the student’s request for a leave of absence, if Midland documents its decision and collects the written request at a later date.
Section 8: Treatment of Title IV funds when a student withdraws.
When a recipient of Title IV grant or loan assistance withdraws from Midland University during a payment period in which the recipient began attendance, Midland must determine the amount of title IV grant or loan assistance the student earned as of the student’s withdrawal date.
A student is considered to have withdrawn from a payment period if:
In the case of a program that is measured in credit hours, the student does not complete all the days in the payment period that the student was scheduled to complete.
For a student in a non-term or nonstandard-term program, the student is not scheduled to begin another course within a payment period for more than 45 calendar days after the end of the module the student ceased attending.
For a payment period in which courses in the program are offered in modules:
a.) A student is not considered to have withdrawn if Midland obtains written confirmation from the student at the time that would have been a withdrawal of the date that he or she will attend a module that begins later in the same payment period ; and
b.) For non-term and nonstandard-term programs, that module begins no later than 45 calendar days after the end of the module the student ceased attending.
c.) If Midland has obtained the written confirmation of future attendance in accordance with a. of this section.
d.) A student may change the date of return to a module that begins later in the same payment period , provided that the student does so in writing prior to the return date that he or she had previously confirmed; and
e.) For non-term and nonstandard-term programs, the later module that he or she will attend begins no later than 45 calendar days after the end of module the student ceased attending.
If Midland obtains written confirmation of future attendance in accordance with paragraph (3) (a) but the student does not return as scheduled:
a.) The student is considered to have withdrawn from the payment period; and
b.) The student’s withdrawal date and the total number of calendar days in the payment period would be the withdrawal date and total number of calendar days that would have applied if the student had not provided written confirmation of a future date of attendance.
If a student withdraws from a term-based credit-hour program offered in modules during a payment period and reenters the same program prior to the end of the period, subject to conditions established by federal, state, and Midland policy, the student is eligible to receive any Title IV, HEA program funds for which he or she was eligible prior to withdrawal, including funds that were returned by Midland or student under the provisions of this section, provided the student's enrollment status continues to support the full amount of those funds.
Title IV grant or loan assistance includes only assistance from the Federal Perkins Loan, Direct Loan, FFEL, Federal Pell Grant, Academic Competitiveness Grant, National SMART Grant, TEACH Grant, and FSEOG programs, not including the non-Federal share of FSEOG awards if Midland meets its FSEOG matching share by the individual recipient method or the aggregate method.
If the total amount of Title IV grant or loan assistance, or both, that the student earned is less than the amount of Title IV grant or loan assistance that was disbursed to the student or on behalf of the student in the case of a PLUS loan, as of the date of Midland’s determination that the student withdrew:
a.) The difference between these amounts must be returned to the title IV programs in the specified order; and
b.) No additional disbursements may be made to the student for the payment period.
Section 9: Post-withdrawal disbursements
If the total amount of Title IV grant or loan assistance, or both, that the student earned is greater than the total amount of Title IV grant or loan assistance, or both, that was disbursed to the student or on behalf of the student in the case of a PLUS loan, as of the date of the Midland’s determination that the student withdrew, the difference between these amounts must be treated as a post-withdrawal disbursement in accordance with federal regulations. If this is the case, the following considerations apply:
A post-withdrawal disbursement must be made from available grant funds before available loan funds.
If outstanding charges exist on the student’s account, Midland may credit the student’s account up to the amount of outstanding charges with all or a portion of any:
a.) Grant funds that make up the post-withdrawal disbursement; and
b.) Loan funds that make up the post-withdrawal disbursement only after obtaining confirmation from the student or parent in the case of a parent PLUS loan, that they still wish to have the loan funds disbursed by responding in writing or electronic means to Midland within 14 days after the notification has been sent.
Midland will disburse directly to a student any amount of a post-withdrawal disbursement of grant funds that is not credited to the student’s account. Midland will make the disbursement as soon as possible, but no later than 45 days after the date of the Midland's determination that the student withdrew.
Midland will offer to disburse directly to a student, or parent in the case of a parent PLUS loan, any amount of a post-withdrawal disbursement of loan funds that is not credited to the student’s account.
a.) Midland will make a direct disbursement of any loan funds that make up the post-withdrawal disbursement only after obtaining the student’s, or parent’s in the case of a parent PLUS loan, confirmation that the student or parent still wishes to have the loan funds disbursed.
b.) Midland will provide within 30 days of the date of the Midlands determination that the student withdrew, a written notification to the student, or parent in the case of parent PLUS loan, that:
i. Requests confirmation of any post-withdrawal disbursement of loan funds that Midland wishes to credit to the student's account, identifying the type and amount of those loan funds and explaining that a student, or parent in the case of a parent PLUS loan, may accept or decline some or all of those funds.
ii. Requests confirmation of any post-withdrawal disbursement of loan funds that the student, or parent in the case of a parent PLUS loan, can receive as a direct disbursement, identifying the type and amount of these Title IV funds and explaining that the student, or parent in the case of a parent PLUS loan, may accept or decline some or all of those funds.
iii. Explains that a student, or parent in the case of a parent PLUS loan, who does not confirm that a post-withdrawal disbursement of loan funds may be credited to the student’s account may not receive any of those loan funds as a direct disbursement unless Midland concurs.
iv. Explains the obligation of the student, or parent in the case of a parent PLUS loan, to repay any loan funds he or she chooses to have disbursed.
v. Advises the student, or parent in the case of a parent PLUS loan, that no post-withdrawal disbursement of loan funds will be made, unless Midland chooses to make a post-withdrawal disbursement based on a late response, if the student or parent in the case of a parent PLUS loan, does not respond within 14 days of the date that Midland sent the notification, or a later deadline set by Midland.
Midland has established the same 14 day deadline for a student, or parent in the case of a parent PLUS loan, to accept a post-withdrawal disbursement for both a confirmation of a direct disbursement of the post-withdrawal disbursement of loan funds and a confirmation of a post-withdrawal disbursement of loan funds to be credited to the student’s account.
If the student, or parent in the case of a parent PLUS loan, submits a timely response that confirms that they wish to receive all or a portion of a direct disbursement of the post-withdrawal disbursement of loan funds, or confirms that a post-withdrawal disbursement of loan funds may be credited to the student’s account, Midland will disburse the funds in the manner specified by the student, or parent in the case of a parent PLUS loan, as soon as possible, but no later than 180 days after the date of Midland’s determination that the student withdrew.
If a student, or parent in the case of a parent PLUS loan, submits a late response to Midland’s notice requesting confirmation, Midland may make the post-withdrawal disbursement of loan funds as instructed by the student, or parent in the case of a parent PLUS loan (provided Midland disburses all the funds accepted by the student, or parent in the case of a parent PLUS loan), or decline to do so.
If a student, or parent in the case of a parent PLUS loan, submits a late response to Midland and Midland does not choose to make the post-withdrawal disbursement of loan funds, Midland will inform the student, or parent in the case of a parent PLUS loan, in writing of the outcome of the post-withdrawal disbursement request.
If the student, or parent in the case of a parent PLUS loan, does not respond to Midland’s notice, no portion of the post-withdrawal disbursement of loan funds that Midland wishes to credit to the student’s account, nor any portion of loan funds that would be disbursed directly to the student, or parent in the case of a parent PLUS loan, may be disbursed.
Midland will document in the student’s file the result of any notification made of the student’s right to cancel all or a portion of loan funds or of the student's right to accept or decline loan funds, and the final determination made concerning the disbursement.
Section 10: Other definitions and explanations
Calculation of the amount of Title IV assistance earned by the student
The amount of Title IV grant or loan assistance that is earned by the student is calculated by:
Determining the percentage of Title IV grant or loan assistance that has been earned by the student; and
Applying this percentage to the total amount of Title IV grant or loan assistance that was disbursed (and that could have been disbursed) to the student, or on the student’s behalf, for the payment period as of the student’s withdrawal date.
Percentage earned
The percentage of Title IV grant or loan assistance that has been earned by the student is—Equal to the percentage of the payment period that the student completed (as determined in accordance with paragraph (f) of this section) as of the student’s withdrawal date, if this date occurs on or before:
a.) Completion of 60 percent of the payment period for a program that is measured in credit hours (For example, if a student completed 30% of the term, he/she earned 30% of the assistance that was awarded) ; or
b.) 100 percent, if the student’s withdrawal date occurs after completion of 60 percent of the payment period for a program that is measured in credit hours.
Percentage unearned
The percentage of Title IV grant or loan assistance that has not been earned by the student is calculated by determining the complement of the percentage of title IV grant or loan assistance earned by the student as described above.
Total amount of unearned Title IV assistance to be returned
The unearned amount of Title IV assistance to be returned is calculated by subtracting the amount of Title IV assistance earned by the student as calculated from the amount of Title IV aid that was disbursed to the student as of the date of Midland’s determination that the student withdrew.
Use of payment period
The treatment of Title IV grant or loan funds if a student withdraws must be determined on a payment period basis for a student who attended a standard term-based (semester, trimester, or quarter) educational program. Midland uses the payment period method for all standard, non-term or nonstandard term-based educational programs.
Midland consistently uses the payment period for all purposes of this section for each of the following categories of students who withdraw from the same non-term based or non-standard term-based educational program:
Students who have attended an educational program at Midland from the beginning of the payment period.
Students who re-enter Midland during a payment period.
Students who transfer into Midland during a payment period.
For a program that measures progress in credit hours and uses nonstandard terms that are not substantially equal in length, Midland must:
a.) Use the payment period during which the student withdrew that ends later; and
b.) If in the payment period that ends later there are funds that have been or could have been disbursed from overlapping payment periods, Midland must include in the return calculation any funds that can be attributed to the payment period that ends later.
For students in the category who are disbursed or could have been disbursed aid using only the payment period definition use the payment period definition for which Title IV, HEA program funds were disbursed for a student’s calculation under this section.
Percentage of payment period completed.
The percentage of the payment period completed is determined by:
Dividing the total number of calendar days in the payment period or into the number of calendar days completed in that period as of the student’s withdrawal date
The schedule must have been established in accordance with requirements of the accrediting agency and the State licensing agency, if such standards exist.
The total number of calendar days in a payment period includes all days within the period that the student was scheduled to complete, except that scheduled breaks of at least five consecutive days are excluded from the total number of calendar days in a payment period and the number of calendar days completed in that period.
The total number of calendar days in a payment period does not include:
a.) Days in which the student was on an approved leave of absence; or
b.) For a payment period in which any courses in the program are offered in modules, any scheduled breaks of at least five consecutive days when the student is not scheduled to attend a module or other course offered during that period of time.
Return of unearned aid, responsibility of Midland
Midland will return, in the order specified above, the lesser of:
The total amount of unearned Title IV assistance to be returned.
An amount equal to the total Midland charges incurred by the student for the payment period multiplied by the percentage of Title IV grant or loan assistance that has not been earned by the student.
For purposes of this section, “Midland charges” are tuition, fees, room and board (if the student contracts with Midland for room and board) and other educationally-related expenses assessed by Midland.
Return of unearned aid, responsibility of the student
After Midland has allocated the unearned funds for which it is responsible, the student must return assistance for which the student is responsible in the order specified above.
The amount of assistance the student is responsible for returning is calculated by subtracting the amount of unearned aid Midland is required to return from the total amount of unearned Title IV assistance to be returned.
The student (or parent in the case of funds due to a parent PLUS Loan) must return or repay, as appropriate, the amount determined to:
a.) Any Title IV loan program in accordance with the terms of the loan; and
b.) Any Title IV grant program as an overpayment of the grant; however, a student is not required to return the following:
i. The portion of a grant overpayment amount that is equal to or less than 50 percent of the total grant assistance that was disbursed (and that could have been disbursed, as defined in paragraph (l)(1) of this section) to the student for the payment period.
ii. With respect to any grant program, a grant overpayment amount, as determined after application of the above paragraphs of this section, of 50 dollars or less that is not a remaining balance.
c.) A student who owes an overpayment under this section remains eligible for Title IV, HEA program funds through and beyond the earlier of 45 days from the date Midland sends a notification to the student of the overpayment, or 45 days from the date Midland was required to notify the student of the overpayment if, during those 45 days the student:
i. Repays the overpayment in full to Midland; or
ii. Enters into a repayment agreement with Midland in accordance with repayment arrangements satisfactory to Midland; or
iii. Signs a repayment agreement with the Secretary, which will include terms that permit a student to repay the overpayment while maintaining his or her eligibility for Title IV, HEA program funds.
d.) Within 30 days of the date of Midland’s determination that the student withdrew, Midland must send a notice to any student who owes a Title IV, HEA grant overpayment as a result of the student's withdrawal from Midland in order to recover the overpayment.
If Midland chooses to enter into a repayment agreement with a student who owes an overpayment of Title IV, HEA grant funds, must:
Provide the student with terms that permit the student to repay the overpayment while maintaining his or her eligibility for Title IV, HEA program funds; and
Require repayment of the full amount of the overpayment within two years of the date of Midland’s determination that the student withdrew.
a.) Midland must refer to the Secretary, in accordance with procedures required by the Secretary, an overpayment of Title IV, HEA grant funds owed by a student as a result of the student's withdrawal from Midland if:
i. The student does not repay the overpayment in full to Midland, or enter a repayment agreement with Midland or within the earlier of 45 days from the date Midland sends a notification to the student of the overpayment, or 45 days from the date Midland was required to notify the student of the overpayment.
ii. At any time the student fails to meet the terms of the repayment agreement with Midland entered; or
iii. The student chooses to enter into a repayment agreement with the Secretary.
A student who owes an overpayment is ineligible for Title IV, HEA program funds:
If the student does not meet the requirements above, on the day following the 45-day period as of the date the student fails to meet the terms of the repayment agreement with Midland or the Secretary entered into in accordance with this section.
A student who is ineligible under this section regains eligibility if the student and the Secretary enter into a repayment agreement.
a.) The Secretary may waive grant overpayment amounts that students are required to return under this section if the withdrawals on which the returns are based are withdrawals by students:
i. Who were residing in, employed in, or attending Midland University when the President has declared the area a major disaster area, in accordance with section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act (42 U.S.C. 5170);
ii. Whose attendance was interrupted because of the impact of the disaster on the student or Midland; and
iii. Whose withdrawal occurred within the award year during which the designation occurred or during the next succeeding award year.
Order of return of Title IV funds
Loans
Unearned funds returned by Midland or the student, as appropriate, in accordance with this section respectively, must be credited to outstanding balances on Title IV loans made to the student or on behalf of the student for the payment period for which a return of funds is required. Those funds must be credited to outstanding balances for the payment period for which a return of funds is required in the following order:
Unsubsidized Federal Stafford loans.
Subsidized Federal Stafford loans.
Unsubsidized Federal Direct Stafford loans.
Subsidized Federal Direct Stafford loans.
Federal Perkins loans.
Federal PLUS loans received on behalf of the student.
Federal Direct PLUS received on behalf of the student.
Remaining funds
If unearned funds remain to be returned after repayment of all outstanding loan amounts, the remaining excess must be credited to any amount awarded for the payment period for which a return of funds is required in the following order:
1) Federal Pell Grants.
2) FSEOG Program aid.
3) TEACH Grants.
Timeframe for the return of Title IV funds
Midland will return the amount of Title IV funds for which it is responsible under this section as soon as possible but no later than 45 days after the date of Midland’s determination that the student withdrew as defined in this section. The timeframe for returning funds is further described in a preceding section.
Examples:
Example 1
Willis Warrior began his classes August 23, 2015, and notified the Advising Center that he intended to withdraw on October 14, 2015. Willis’s aid for fall consisted of a Federal Pell Grant of $2775, a Midland Grant of $4500, a Nebraska Opportunity Grant of $750, a Federal Perkins Loan of $1000, a Federal Direct Subsidized Loan of $1750 ($1742 estimated net disbursement after fees) and a Federal Direct Unsubsidized Loan of $3000 ($2985 estimated net after fees). Based on the refund calculation, Willis was charged for 100% of his tuition, room, and board, or $15,308. By dividing the days attended by the total days in the enrollment period, we find that Willis earned 58.2% of his federal Midland aid and 100% of his Midland and state aid. Willis’s Federal Unsubsidized Direct Loan of $2985 and $1419 of his Federal Direct Subsidized Loan was repaid back to the U.S. Department of Education. Had Willis completed the entire semester, his remaining portion of his educational costs would have been $1695. However, after withdrawing, he would owe the University a total of $5960 because of the adjustments to his awards.
Example 2
Wendy Warrior began classes on January 31, 2015, and notified the Advising Center that she was withdrawing on March 6, 2015. Wendy’s spring semester aid included a Federal Pell Grant of $2775, a Federal SEOG Grant of $500, a Federal Direct Subsidized Stafford Loan of $1750 (estimated net disbursement $1742), a Federal Unsubsidized Stafford Loan of $3000 (estimated net disbursement $2985), a Federal Perkins Loan of $750, a Nebraska Opportunity Grant of $1250 and Midland University scholarships totaling $3,000. Based on the refund calculation, Wendy was charged 100% of her tuition and fees, or $12,375. By dividing the days attended by the total days in the enrollment period, we find that Wendy earned 34.0% of her federal and 100% of her Midland and state aid. Wendy’s Federal Unsubsidized and Subsidized Direct Unsubsidized Loan funds, as well as her Perkins Loan, were returned to the U.S. Department of Education. $299 of her Federal Pell Grant was also returned to the U.S. Department of Education. Had Wendy completed the semester, her portion of her university costs would have been $0, and she would have had a credit balance refund of $627. However, after her withdrawal, Wendy would owe a total of $5649.