The law specifies how Saint Leo University must determine the
amount of Title IV federal student assistance you have earned if
you withdraw from school. The Title IV programs that are covered by
this law are: Federal Pell Grants, Iraq and Afghanistan Service
Grants, Federal Supple¬mental Educational Opportunity Grants
(FSEOGs), TEACH Grants, and Direct Loans--Subsidized, Unsubsidized,
PLUS, and Grad PLUS.
When you withdraw during a term (i.e., semester or summer term),
the amount of Title IV federal student aid that you have earned up
to that point is determined by a specific formula. If you received
(or your parent received, if applicable) less assistance than the
amount that you earned, you may be able to receive those additional
funds. If you received more assistance than you earned, the excess
funds must be returned by the school and/or you.
The amount of assistance that you have earned is determined on a
pro rata basis. For example, if you completed 30% of the term, you
earn 30% of the assistance you were originally scheduled to
receive. Once you have completed more than 60% of the term, you
earn all the assistance that you were scheduled to receive for that
If you did not receive all of the funds that you earned, you may
be due a Post-withdrawal disbursement. If your Post-withdrawal
disbursement includes loan funds, Saint Leo University (SLU) must
get your permission before the loan funds can be disbursed. You may
choose to decline some or all of the loan funds so that you do not
incur additional debt. SLU may automatically use all or a portion
of your Post-withdrawal disbursement of grant funds for tuition,
fees, and room and board charges (if applicable). SLU needs your
permission to use the Post-withdrawal grant disbursement for all
other school charges. If you do not give your permission, you will
be offered the funds. However, it may be in your best interest to
allow SLU to keep the funds to reduce your debt at the
There may be some Title IV funds that you were scheduled to
receive that cannot be disbursed to you once you withdraw because
of other eligibility requirements. For example, if you are a
first-time, first-year undergraduate student and you have not
completed the first 30 days of your program before you withdraw,
you will not receive any Direct Loan funds that you would have
received had you remained enrolled past the 30th day.
If you receive (or your parent receives, if applicable) excess
Title IV program funds that must be returned, Saint Leo University
must return a portion of the excess equal to the lesser of:
Saint Leo University must return this amount even if it did not
keep this amount of your Title IV program funds.
If Saint Leo University is not required to return all of the
excess funds, you must return the remaining amount.
Please view Saint Leo University’s complete Return of
Title IV policy for additional details.