Return of Federal Title IV Funds

If a student completely withdraws from CBU, the unearned amount of Federal Financial funds must be returned to the appropriate Federal Financial Assistance programs.

The unearned amount of the Federal Financial Assistance is calculated by dividing the number of days completed in the term, as of the date of official withdrawal, by the number of days in the term, exclusive of breaks of five or more days. No refund is required if the student has completed more than sixty percent (60%) of the term. All unofficial withdrawals will be calculated at fifty percent (50%).

The United States Department of Education requires the following order to the Federal Assistance programs:

Unsubsidized Stafford Loans
Subsidized Stafford Loans
Federal Perkins Loans
Federal Plus Loans
Federal Pell Grants
Federal SEOG
Other Federal Financial Assistance programs.

Examples of the refund calculations for the Federal Financial Assistance are available in the Business Office during normal working hours. The requirements to refund Federal Financial Assistance may result in a balance due to Christian Brothers University.