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FINANCIAL AID

Financial Aid Refund Policy

Students who withdraw from all classes prior to completing more than 60% of an enrollment term will have their eligibility for aid recalculated based on the percent of the term completed. For example, a student who withdraws completing only 30% of the term will have “earned” only 30% of any Title IV aid received. The school and/or the student must return the remaining 70%. The Office of Student Financial Services must be contacted to see how withdrawal will affect the financial aid.

Failure to attend classes does not constitute an automatic withdrawal; students must obtain the Withdrawal Form from the Office of Registrar, complete it, and physically take the form to the appropriate offices for signatures. If the student exited the campus unofficially, he or she should contact the Registrar’s Office ([937]-708-5735) to process the withdrawal.

Perkins and Stafford Loan borrowers should contact the Bursar’s Office and the Office of Student Financial Services for their mandatory exit loan counseling. Stafford Loan borrowers should go to: studentloantransitionguide.usafunds.org and complete the required exit loan counseling.

Students who remain enrolled through at least 60% of the payment period (semester) are considered to have earned 100% of the aid received and will not owe a repayment of Federal Title IV Grant funds.

If Wilberforce University returns funds to the Title IV aid programs, the student could owe Wilberforce University charges that were originally paid at the time of disbursement. Students may also be required to return funds released to them for personal expenses.

Monies will be returned to the Title IV aid programs and not to recipients. Monies returned to the Title IV aid programs will be applied first to loans to reduce the loan debt of the student and/or parent borrower.

The Return of Title IV Policy:
This policy shall apply to all students who receive financial aid from Title IV funds and withdraw, drop out, or are expelled from Wilberforce University (WU):

  • The term “Title IV Funds” refers to the Federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes the following programs: Unsubsidized Federal Direct Loans, Federal Subsidized Direct Loans, Federal Direct PLUS Loans, Federal Family Educational Loan (FFEL), Subsidized and Unsubsidized Loans, Federal Perkins Loans, Federal Pell grants, the Federal ACG, Federal, and National SMART Grant and the Federal Supplemental Education Opportunity Grant (FSEOG)
  • A student’s withdrawal date is: The student’s last date of attendance as determined by the registrar or the last date of a documented academically-related activity (the latest date will be used) or, if either is unattainable, the midpoint of the period for a student who leaves without notifying the University, and instructors are unable to provide a recorded last date of attendance.
  • Title IV aid is earned in a prorated manner on a per diem basis up to and including the 60% point in the semester. Title IV aid and all other aid is viewed as 100% earned after that point in time.

The percentage of Title IV aid earned shall be calculated as follows:

  • Number of days completed by the student -+ total number of days in semester = percent of semester completed.
  • The percent of semester completed shall be the percentage of Title IV aid earned by the student.
  • The total number of calendar days in a semester of enrollment shall exclude any scheduled breaks of more than five days.  

The percentage of Title IV aid unearned (i.e., to be returned to the appropriate program) shall be 100% minus the percent earned. Unearned aid shall be returned first by WU from the student’s account calculated as follows:

  • Total institutional charges x percent of unearned aid = amount returned to program(s). Unearned Title IV aid shall be returned to the following programs in the following order:
  • Unsubsidized Direct Stafford Loan
  • Subsidized Direct Stafford Loan
  • Parent Loans to Undergraduate Students (PLUS) Grant Programs
  • Federal Pell Grant
  • Federal SEOG
  • Other Title IV

Exception: no program can receive a refund if the student did not receive aid from that program. When the total amount of unearned aid is greater than the amount returned by WU from the student’s account, the student is responsible for returning unearned aid to the appropriate program(s) as follows:  

  • Unsubsidized Direct Stafford Loan*
  • Subsidized Direct Stafford Loan*
  • Parent Loans to Undergraduate Students (PLUS) Grant Programs**
  • Federal Pell Grant**
  • Federal SEOG**
  • Other Title IV  

* Loan amounts are returned with the terms of a promissory note.
**Amounts to be returned by the student to federal grant programs will receive a 50% discount.  

Refunds and adjusted bill will be sent to the student’s home address following withdrawal. Students are responsible for any portion of their institutional charges that are left outstanding after Title IV funds are returned. 

 

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Financial Aid @ WU
F.A. Refund Policy
How To Apply
Financial Aid Forms
Financial Aid Deadlines