Withdrawal and Return of Aid for Graduate Students
Federal regulations require Chaminade University to determine the amount of federal student aid a student has earned when the student withdraws, officially or unofficially, from all courses during a payment period. This process is known as the Return of Title IV Funds (R2T4) calculation and applies to recipients of federal Title IV financial aid.
Determination of Earned and Unearned Aid
Federal student aid is earned through attendance and participation in coursework. When a student withdraws before completing a payment period, Chaminade University must determine the amount of Title IV aid earned as of the student's withdrawal date.
The percentage of aid earned is calculated by dividing the number of calendar days completed in the payment period by the total number of calendar days in the payment period, excluding any scheduled breaks of five or more consecutive days and approved leaves of absence, if applicable. The resulting percentage is applied to the total Title IV aid disbursed, or that could have been disbursed for the payment period.
For example, a student who completes 20 percent of the payment period has earned 20 percent of the Title IV aid for that period. The remaining 80 percent is considered unearned and may be required to be returned to the applicable federal aid programs.
Students who complete more than 60 percent of the payment period are considered to have earned 100 percent of their Title IV aid, and no Return of Title IV Funds calculation is required.
Official Withdrawal
Students who intend to withdraw from all courses during a payment period must notify their Academic Advisor and complete the University's official withdrawal process. For Title IV purposes, the withdrawal date is generally the date the student begins the institution's withdrawal process or otherwise provides official notification of their intent to withdraw.
Unofficial Withdrawal
Students who cease attending without completing the official withdrawal process may be considered to have made an unofficial withdrawal. Graduate students who receive failing grades in all courses for a payment period will be reviewed to determine whether they completed the period or ceased attendance prior to the end of the term.
If a student stopped attending before the end of the payment period, the University will use the student's last date of academically related activity, as documented in faculty or institutional records, to determine the withdrawal date and calculate the aid earned.
Return of Unearned Funds
When a Return of Title IV Funds calculation is required, Chaminade University must return the institution's share of unearned Title IV aid no later than 45 days after the University determines that the student withdrew.
Graduate students are eligible only for Federal Direct Unsubsidized Loans, with the legacy provision exception for select students regarding the Federal Graduate PLUS Loans.
The University will return any required institutional share of unearned aid. Students remain responsible for any outstanding institutional charges and for repayment of any federal loan funds.
Federal Work-Study earnings are not included in the Return of Title IV Funds calculation and are not required to be returned.
Post-Withdrawal Disbursements
A student who withdraws may have earned federal aid that had not yet been disbursed at the time of withdrawal. If the Return of Title IV Funds calculation determines that a student is eligible for a Post-Withdrawal Disbursement (PWD), the University will notify the student or parent borrower, as applicable.
Post-withdrawal disbursements are processed according to federal regulations:
Any earned grant funds for which the student is eligible will be credited to the student's account as soon as possible, but no later than 45 days after the date the University determines the student withdrew.
The University will notify the student (or parent borrower, if applicable) of eligibility for post-withdrawal loan funds within 30 days of the determination date.
The borrower must affirmatively accept all or a portion of the loan funds before the University may disburse them.
Borrowers will be provided at least 14 days to respond to the notification.
Accepted loan funds may be applied to outstanding educational charges, and any resulting credit balance will be refunded to the student within 14 days of its creation.
Credit Balances and Refunds
If the Return of Title IV Funds calculation results in a credit balance on the student's account after all required adjustments have been made, the University will issue any remaining refund to the student within 14 days in accordance with federal cash management regulations.
Exit Counseling
Graduate students who withdraw from the University and who have received Federal Direct Loans are required to complete federal Exit Counseling. Exit Counseling provides important information regarding repayment obligations, deferment and forbearance options, loan servicer information, and borrower rights and responsibilities.
Exit Counseling may be completed through studentaid.gov
Students with questions regarding the Return of Title IV Funds process should contact the Chaminade University Financial Aid Office.
Financial Aid Office
3140 Waialae Avenue
Clarence T.C. Ching Hall
Honolulu, HI 96816
Email: finaid@chaminade.edu
Phone: (808) 735-4780