Purpose
The purposes and intent of this policy are to provide guidance as to how Carroll College will calculate the amount of Federal Title IV funds to be returned for a student who has withdrawn from all classes, inform interested parties of the methods and procedures used to calculate the amount, provide a fair and equitable policy, and provide a policy that conforms to federal regulations and the intent of those regulations.
This policy governs the return of Federal Title IV funds disbursed for a student who completely withdraws from a term, payment period, or period of enrollment. It does not apply to students who have dropped some classes but remain enrolled in other classes at or through Carroll. A student is considered to have withdrawn from a period of enrollment or payment period if they do not complete all the days in the period of enrollment or payment period that they were scheduled to complete. This applies whether or not the period includes modules, and for any program format. The general assumption is that a student earns aid based on the period of time he/she remained enrolled. Institutional aid follows the Business Office tuition refund policy.