Return of Title IV Funds Policy
If a student officially withdraws, stops attending without officially withdrawing, or is dismissed prior to completing 60% of the payment period, the student and/or the school may be required to return some of the federal funds awarded to the student. Based on the return of funds policy, a tuition refund may have to be returned to the grant or loan source from which the assistance was received. A student who is withdrawing should report to the Registrar's Office to complete the required resignation form. This procedure will enable LSU Eunice to refund the maximum possible institutional charges. Failure to resign properly could result in the student receiving a letter grade of F in all courses and still being held to the Return of Funds Policy once an official withdrawal date is determined. Withdrawal date is defined as the actual date the student begins the institution's withdrawal process, the student's last date of academically related activity or the midpoint of the payment period for a student who leaves without notifying the school. LSU Eunice's Refund Policy exists for calculating the refund of institutional charges. The federal "Return of Title IV Funds" formula dictates the amount of Federal Title IV aid that must be returned to the federal government by the school and/or the student. The federal formula is applicable to a student receiving federal aid other than Federal Work-Study if that student withdraws on or before the 60% point during the semester. The amount of refund of institutional charges will be the greater of the amount the school must return to federal Title IV programs or the amount determined by LSUE's Refund Policy.
LSU Eunice's Refund Policy
Students who withdraw from the University will receive a pro-rated refund of educational fees according to the following schedule:
- Before classes begin - 100%
- Through the second day of class (first in summer session) - 90%
- From the third through the fifth day of classes (second through the third day in regular summer session) - 75%
- From the sixth through the fourteenth day of class (fourth through fifth day in regular summer session) - 50%
- No refunds there after
The federal formula requires a return of Title IV aid if the student received federal financial assistance in the form of a grantor loan and withdrew on or before completing 60% of the semester. The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. The return of funds will occur in the following program order: Unsubsidized Direct Stafford, Subsidized Direct Stafford, Direct Perkins Loan, Direct PLUS, Federal Pell Grant, Federal SEOG then any other Title IV program. Scheduled breaks of five consecutive days or more are excluded. If any funds are to be returned after the return of Title IV aid, it will be used to repay LSU Eunice funds, state funds, other private sources and the student in proportion to the amount received from each non-federal source; as longas there was no unpaid balance at the time of withdrawal. If there was an unpaid balance, then all aid sources will be repaid before any funds are returned to the student. Also, if you resign or drop below half-time, your cost of attendance budget may have to be adjusted so that, if you enroll in a subsequent session during the current academic year, your financial aid may be lower than indicated in your original award.
NOTE: If funds are released to a student because of a credit balance on the student's account, then the student may be required to repay some of the federal grants if the student withdraws.