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Withdraw & Return of Title IV Funds

Saint Leo University is a semester-based school with classes offered in semesters and terms. Semester students are awarded on a traditional semester-based calendar with one disbursement per semester (or every 16 weeks). Term students are awarded on both the traditional or alternative semester calendar (dependent upon start term) with two disbursements per semester. Disbursements occur over the course of two 8-week terms, also known as modules.

The student account reflects tuition charges at the time a student registers for classes, however, these charges will be reversed if the student drops or does not attend by the end of the drop/add period. A student officially withdraws by completing appropriate withdraw process for University Campus students or for WorldWide students.

The Return of Title IV Funds calculation is different from the Saint Leo University tuition and fee refund calculations.

Federal aid used in the return of Title IV funds calculation includes Federal Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Federal Iraq Afghanistan Service Grant (IASG), TEACH, Direct Subsidized loans, Direct Unsubsidized loans, Direct Grad PLUS loans and Direct PLUS loans that have been disbursed or aid that could have been disbursed. Federal Work Study is excluded.

The amount of Title IV federal aid earned by a student is determined on a pro-rata basis up to the end of 60% of the semester, or payment-period. Once a student has completed more than 60% of a semester, or payment-period, all disbursed aid has been earned.

Students will receive an email to their Saint Leo email address on file or a letter mailed to their home address on file of the withdraw calculation notification within 30 days.

A post-withdrawal disbursement of grant and/or loan funds may be paid if the student is eligible to receive the funds. The student (or parent if a PLUS loan) will be notified within 30 days of the date of withdrawal of the opportunity to accept, reduce, or decline the post-withdrawal loan disbursement. Grant disbursement is automatically paid with the option to decline. Upon receipt of a timely response (within 14 days) from the student (or parent), the University will disburse the loan funds as soon as possible and within 180 days of the withdrawal date.

Loan funds disbursed will be applied towards the outstanding semester charges on the student's account and may pay up to the amount of the allowable charges (i.e. direct charges for tuition, fees, room, board, books and supplies).

A student is not considered for a withdrawal for return of Title IV (TIV) funds purposes if they meet one of the following exemptions:

  1. student completes all requirements for graduation before completing the semester or payment period
  2. student successfully completes TIV eligible coursework in the first term of their semester that equals 49% or more of the number of countable days in the payment period. Incomplete, earned F, and unearned F (FA) grades are not considered successful completion for Return of TIV purposes.
  3. student successfully completes TIV eligible coursework equal to or greater than half-time enrollment (6 credit hours for undergraduate and 3 credit hours for graduate/doctoral)
  4. student completes a confirmation of future attendance within 7 days of withdrawing from all classes in the term and is enrolled in the next term. (Attendance is verified after the add/drop period of next term.)

When a student is considered a withdrawal:

Calculation for Semester-based enrollment:
The calculation for a student in semester classes consists of the number of calendar days completed in the semester divided by the total calendar days in the semester. After calculating the percentage of aid earned, the total aid disbursed and aid that could have been disbursed for the semester is multiplied by the percentage earned and rounded to the one-hundredth decimal.

Calculation for Term-based enrollment (modules):
The calculation for a student in term-based classes consists of number of calendar days in the payment period the student completed divided by the number of calendar days scheduled in the payment period that was used to determine student’s eligibility for TIV funds for that payment period (two 8-week terms equal the semester).

This policy is effective as of June 28, 2021 and applies to the 2021 summer 2 term and all terms and semesters that follow.


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