/Institutions/Neumont-University/json/2016-2017/Catalog-local.json

/Institutions/Neumont-University/json/2016-2017/Catalog.json

Return to Title IV

Title IV funds are federal student aid (FSA) funds administered by the U.S. Department of Education. They include Federal Pell Grant, Iraq Afghanistan Service Grant (IASG), Federal Supplemental Educational Opportunity Grant (FSEOG), TEACH Grant, Direct Loans (Subsidized Direct Loan, Unsubsidized Direct Loan, and Direct PLUS loan), and Perkins loan. FSA funds are awarded to a student under the assumption that the student will attend the University for the entire period for which the assistance is awarded. When an FSA recipient withdraws from the University prior to the end of a payment period, a Return of Title IV (R2T4) calculation will be performed to determine the amount FSA funds earned as of the date of withdrawal. Neumont University uses a third-party processor to assist with this calculation.

If the total amount of FSA funds earned is less than the amount of FSA funds disbursed to the student or parent, for a Direct Parent PLUS loan, the difference or unearned funds will be returned to the applicable FSA programs. However, if the total amount of FSA earned is greater than the amount disbursed to the student or parent, for a Direct Parent PLUS loan, the student may be eligible to receive a post withdrawal disbursement (PWD) of the earned FSA funds.

An R2T4 calculation will not be performed if an FSA recipient withdraws after completing the payment period (term) and all FSA funds have been disbursed. Students with a withdrawal date that occurs up through the completion of 60 percent of a payment period are eligible for a prorated portion of the FSA funds disbursed. Students with a withdrawal date that occurs after completing more than 60 percent of the payment period earns 100 percent of the FSA funds.