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FINANCIAL AID DePauw University
mail P.O. Box 37
Greencastle, IN
46135-0037
Work(800) 447-2495(765) 658 4030
FAX:fax (765) 658-4137
Financial Aid
Sample Withdrawal Cases
Sample Withdrawal Case A
| Student withdrew from the University: 25-Sep-03 | |
| Days Enrolled: | 30 |
| Total days in the semester: | 103 |
| Percentage of semester completed: | 29.1% |
Step 1: Student's Title IV Aid Information
| Federal funds disbursed (net amount) | |
|---|---|
| Unsubsidized Federal Stafford Loan | 0.00 |
| Subsidized Federal Stafford Loan | 1,697.50 |
| Federal Perkins Loan | 750.00 |
| Federal PLUS Loan | 873.00 |
| Federal Pell Grant | 2,000.00 |
| Federal Supplemental Grant (SEOG) | 1,000.00 |
| Other Federal Aid (except Federal Work Study) | 0.00 |
| Total Federal Funds Received | A 6,320.50 |
| Federal funds that could have been disbursed | A 0.00 |
| Total federal funds disbursed plus Total Title IV aid that could have been disbursed. | B 6,320.50 |
Step 2: Percentage of Title IV Aid Earned
| Determine the calendar days completed in the period of enrollment divided by the total calendar days in the enrollment period (exclude scheduled breaks of 5 days or more). | |
30 ÷ 103 |
C 29.1% |
Step 3: Amount of Title IV Aid Earned by the Student
| Percentage of Title IV aid earned (Total C) times the total of Title IV aid disbursed plus the Title IV aid that could have been disbursed for the enrollment period (Total B). | |
| .291 x 6,320.50 | D 1,840.92 |
Step 4: Total Title IV Aid to be Disbursed or Returned
If the amount in Total D is greater than the amount in Total A, go to item E. If the amount in Total A is greater than the amount in Total D, go to item F. If the amounts in Totals A and D are equal, STOP. No further action is necessary.
Post-withdrawal disbursement: Subtract Title IV aid disbursed for the enrollment period (Total A) from the amount of Title IV aid earned (Total D). This is the amount of the post-withdrawal disbursement due. Stop here and go to the post-withdrawal tracking sheet.
Total A - Total D = E ________
Title IV aid to be returned. Subtract the amount of Title IV aid earned (Total D) from Title IV aid disbursed for the period of enrollment (Total A). This is the amount of Title IV aid that must be returned.
6,320.50 - 1,840.92 = F 4,479.58
Step 5: Amount of Unearned Title IV Aid Due from the SCHOOL
| Institutional charges for the period of enrollment: | ||||
| Tuition & Fees | 12,000 | Board | 1,700 | |
| Room | 1,825 | Other | 100 | |
| Total Institutional Charges | G 15,625.00 |
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| Percentage of Title IV aid unearned. (100% - Total C) | H 70.9% |
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The school must return the unearned aid for which the school is responsible (Total J) by repaying funds to the following sources, in order, up to the total net amount disbursed from each source.
Amount for School to Return
| 1. Unsubsidized Stafford Loan | 0 |
| 2. Subsidized Stafford Loan | 1,697.50 |
| 3. Perkins Loan | 750.00 |
| 4. PLUS Loan | 873.00 |
| 5. Pell Grant | 1,159.08 |
| 6. F-SEOG | 0 |
| 7. Other Title IV Funds | 0 |
| Total Returned | 4,479.50 |
Step 7: Initial Amount of Unearned Title IV Aid due from the STUDENT
Subtract the amount of Title IV aid due from the school (Total J) from the amount of Title IV aid to be returned (Total F).
4,479.58 - 4,479.58 = K 0
Step 8: Return of Funds by the STUDENT
The student (or parent for a PLUS loan) must return unearned aid for which the student is responsible (Total K) by repaying funds to the following sources, in order, up to the total amount disbursed from each source, after subtracting the amount the school will return. Amount to be returned to grants are reduced by 50%.
Amount for School to Return
| 1. Unsubsidized Stafford Loan | 0 |
| 2. Subsidized Stafford Loan | 0 |
| 3. Perkins Loan | 0 |
| 4. PLUS Loan | 0 |
| 5. Pell Grant | 0 |
| 6. F-SEOG | 0 |
| 7. Other Title IV Funds | 0 |
| Total Returned | 0 |
Sample Withdrawal Case B
| Student withdrew from the University: 7-Apr-03 | |
| Days Enrolled: | 59 |
| Total days in the semester: | 102 |
| Percentage of semester completed: | 57.8% |
Step 1: Student's Title IV Aid Information
| Federal funds disbursed (net amount) | |
|---|---|
| Unsubsidized Federal Stafford Loan | 0.00 |
| Subsidized Federal Stafford Loan | 1,406.50 |
| Federal Perkins Loan | 550.00 |
| Federal PLUS Loan | 873.00 |
| Federal Pell Grant | 775.00 |
| Federal Supplemental Grant (SEOG) | 750.00 |
| Other Federal Aid (except Federal Work Study) | 0.00 |
| Total Federal Funds Received | A 4,354.50 |
| Federal funds that could have been disbursed | A 0.00 |
| Total federal funds disbursed plus Total Title IV aid that could have been disbursed. | B 4,354.50 |
Step 2: Percentage of Title IV Aid Earned
| Determine the calendar days completed in the period of enrollment divided by the total calendar days in the enrollment period (exclude scheduled breaks of 5 days or more). | |
| 59 ÷ 102 | C 57.8% |
Step 3: Amount of Title IV Aid Earned by the Student
| Percentage of Title IV aid earned (Total C) times the total of Title IV aid disbursed plus the Title IV aid that could have been disbursed for the enrollment period (Total B). | |
| .578 x 4,354.50 | D 2,518.78 |
Step 4: Total Title IV Aid to be Disbursed or Returned
If the amount in Total D is greater than the amount in Total A, go to item E. If the amount in Total A is greater than the amount in Total D, go to item F. If the amounts in Totals A and D are equal, STOP. No further action is necessary.
Post-withdrawal disbursement: Subtract Title IV aid disbursed for the enrollment period (Total A) from the amount of Title IV aid earned (Total D). This is the amount of the post-withdrawal disbursement due. Stop here and go to the post-withdrawal tracking sheet.
Total A - Total D = E ________
Title IV aid to be returned. Subtract the amount of Title IV aid earned (Total D) from Title IV aid disbursed for the period of enrollment (Total A). This is the amount of Title IV aid that must be returned.
4,354.50 - 2,518.78 = F 1,835.72
Step 5: Amount of Unearned Title IV Aid Due from the SCHOOL
| Institutional charges for the period of enrollment: | ||||
| Tuition & Fees | 12,000 | Board | 1,700 | |
| Room | 1,825 | Other | 100 | |
| Total Institutional Charges | G 15,625.00 | |||
| Percentage of Title IV aid unearned. (100% - Total C) | H 42.2% | |||
| Multiply institutional charges for the enrollment period (Total G) times the percentage of Title IV aid unearned (Total H) | ||||
15,625 x .422 = |
I 6,587.01 | |||
| Compare the amount of Title IV Aid to be returned (Total F) to Total I and enter the lesser amount. | ||||
| J 1,835.72 | ||||
Step 6: Return of Funds by the SCHOOL
The school must return the unearned aid for which the school is responsible (Total J) by repaying funds to the following sources, in order, up to the total net amount disbursed from each source.
Amount for School to Return
| 1. Unsubsidized Stafford Loan | 0 |
| 2. Subsidized Stafford Loan | 1,406.50 |
| 3. Perkins Loan | 429.22 |
| 4. PLUS Loan | 0 |
| 5. Pell Grant | 0 |
| 6. F-SEOG | 0 |
| 7. Other Title IV Funds | 0 |
| Total Returned | 1,835.72 |
Step 7: Initial Amount of Unearned Title IV Aid due from the STUDENT
Subtract the amount of Title IV aid due from the school (Total J) from the amount of Title IV aid to be returned (Total F).
1,835.72 - 1,835.72 = K 0
Step 8: Return of Funds by the STUDENT
The student (or parent for a PLUS loan) must return unearned aid for which the student is responsible (Total K) by repaying funds to the following sources, in order, up to the total amount disbursed from each source, after subtracting the amount the school will return. Amount to be returned to grants are reduced by 50%.
Amount for School to Return
| 1. Unsubsidized Stafford Loan | 0 |
| 2. Subsidized Stafford Loan | 0 |
| 3. Perkins Loan | 0 |
| 4. PLUS Loan | 0 |
| 5. Pell Grant | 0 |
| 6. F-SEOG | 0 |
| 7. Other Title IV Funds | 0 |
| Total Returned | 0 |
