Federal Title IV Refund Policy (R2T4)
Georgian Court University is required to determine a student’s earned and unearned federal student aid (Title IV) funds as of the date the student withdraws or ceases attendance based on the amount of time the student spent in attendance. The calculation of funds earned by the student has no relationship to the student’s incurred institutional charges.
Up through the 60% point in each period of enrollment, a pro-rata schedule is used to determine the amount of federal student aid (Title IV) and state aid funds the student has earned at the time of withdrawal. The university must refund the actual percentage of unearned federal and state financial aid up to the withdrawal date. After the 60% point in the period of enrollment, a student has earned 100% of the federal student aid funds awarded for that period and all federal (Title IV) and state student aid funds will remain on the student’s account.
Order of return of Title IV funds
- Unsubsidized Direct Loans (other than Direct PLUS Loans)
- Subsidized Direct Loan
- Direct PLUS Loans
- Federal Pell Grants for which a return of funds is required
- FSEOG for which a return of funds is required
- TEACH Grants for which a return of funds is required
- Iraq and Afghanistan Service Grant, for which a return of funds is required
New Jersey Tuition Aid Grant (TAG), NJ EOF Grants and institutional funds are subject to the 60% rule.
Warning: Federal, state, and institutional refunds may result in a student owing an outstanding balance to the university.