The calculation of the return of Title IV Funds is determined by the date that the student withdraws, which is:

  • The date the student began Quincy College’s withdrawal process;
  • The date the student officially notified the institution of intent to withdraw;
  • The midpoint of the enrollment period for a student who leaves without notifying the institution (an unofficial withdrawal);
  • The student’s last date of attendance at a documented academically related activity.

Title IV aid and all other aid is earned during the time a student is attending Quincy College. The percentage of aid earned is determined by dividing the number of days a student was enrolled by the number of days in the semester, up to the 60% point. Return of Title IV funds is no longer necessary after that point. If the student withdraws from all courses after the 60% point in the semester, Title IV aid is viewed as 100% earned. However, if a student withdraws prior to that 60% point, the student may owe part of his or her financial aid if the Financial Aid Office determines the student has received an amount larger than the earned amount.

The refund policy for state financial aid is the same as the federal policy; however, 100% of state aid is earned at the 50% point.

The term “Title IV Funds” includes the following programs:

  • Federal Pell Grant
  • Federal Supplemental Educational Opportunity Grant (SEOG)
  • Direct Subsidized Loan
  • Direct Unsubsidized Loan
  • Federal PLUS Parent Loan

In accordance with federal regulations, financial aid funds are returned and allocated in the following order:

  1. Unsubsidized
  2. Subsidized
  3. PLUS
  4. Federal Pell Grant
  5. Federal SEOG Program
  6. Other Title IV programs
  7. Other state, private, and institutional aid
  8. The student

Quincy College will return any funds necessary to Title IV programs upon completing the calculation. It is possible that a student who receives financial aid and withdraws will owe a balance to the Quincy College Business Office and may be required to repay funds to the U.S. Department of Education. The procedures and policies listed above supersede those published previously and are subject to change. Please contact the Financial Aid Office if you have any questions about this policy.

Other things to consider before withdrawing:

  • Following the proper withdrawal process is important to avoid difficulty with future enrollment, satisfactory academic progress, and financial aid eligibility.
  • Students receiving a grade of “F” for all classes in a semester will be subject to retraction of aid per federal regulation. Any balance that results is the responsibility of the student.
  • Students that stop attending all classes and fail to complete an official withdrawal form will receive a grade of “F” for each registered class. This will result in a Return to Title IV funds calculation. An outstanding balance may occur and is the responsibility of the student.
  • If a Mass Grant or other state aid is expected but not received on the date of withdrawal, it is automatically canceled.
  • A student is not considered “officially withdrawn” until the student completes a withdrawal form.
  • This policy applies to all students regardless of enrollment status (full and part time).

Original: October 1999

Revised: August 2021; July 2023

Updated for  Gender Inclusivity: Spring 2023