Return of Federal Student Aid, Title IV Funds
When a student withdraws before completing 60% of the semester, the college must return to the Department of Education any unearned Federal Financial Aid funds up to the unearned percentage of institutional charges for the portion of the period the student did not complete. If a student leaves without officially withdrawing, the college will attempt to determine a last day of attendance through instructors’ attendance records or a review of academically related activity. An academically related activity includes, but is not limited to, an exam, a tutorial, academic counseling and turning in class assignments. The last date of attendance official notification to the school of your intent to withdraw, the withdrawal date is the date you provide notification will be used as the withdrawal date for the calculation of the Return of Title IV funds. The calculation for the Return of Title IV Funds may result in the student owing a balance to either the college and/or the federal government. A Return of Title IV calculation determined the percentage of Title IV aid earned by the student by taking the calendar days completed in the payment period, divided by the total days in the payment period (excluding breaks of 5 days or more and days the student was on an approved LOA. Determine the amount of Title IV aid earned by the student by multiplying the percentage of Title IV aid earned times the total of the Title IV aid disbursed plus the Title IV aid that could have been disbursed for the payment period. If this percentage is greater than 60%, the student earns 100% of the disbursed Title IV funds. If this percentage is less than 60%, then the percentage earned is equal to the calculated value. Funds are returned to the appropriate federal program based on the Percentage of aid earned using the following formula:
Aid to be returned = (100% minus the percent earned) multiplied by the amount of aid disbursed toward institutional charges. If a student earned less aid than was disbursed, the institution may be required to return a portion of the funds and the student may be required to return a portion of the funds. All Title IV funds to be returned by the institution must be made no later than 45 calendar days after the date the school determines that the student withdrew. When Title IV funds are returned, the student may owe a balance to the institution. The funds will be returned in the following Order:
- Federal Pell Grant
- Federal Supplement Education Opportunity Grant (FSEOG)
Satisfactory Academic Progress
Students are expected to maintain certain academic standards and make satisfactory progress toward completion of their declared program of study. The Financial Aid Office determines if applicants are eligible for financial aid assistance based on their prior academic records, whether or not they have previously received financial aid.
Satisfactory academic progress is measured in two categories:
• A qualitative academic standard minimum grade point average (GPA) of 2.00 must be maintained each semester for Pell Grant, SEOG and FWS
• A quantitative rate of progression or PACE. Pace is measured in two increments:
- Completion of Attempted Credits: Students must successfully complete two-thirds 67% of the cumulative credits attempted in the degree each term.
- Maximum Time Frame: The student must be on track to graduate within the maximum time frame for their declared degree program within 150% of their total program attempted credits. Percentage is calculated for the cumulative pace by dividing the total number of successfully completed credits by the total number of credits attempted.
• Change of major – the credits earned under the new major will be applied in the calculation of attempted, earned, and maximum time frame.
• Student may appeal the 150% period limit and be allowed to complete the degree. A student whose aid is terminated due to maximum time frame or credit limit may appeal in writing and submitted to the director of financial aid. Student must clearly detail what circumstances prevented their graduation within the applicable time frame or credit limit, what coursework is needed to complete the degree with their appeal, and how long it will take to complete the degree. The appeal should include a personal statement that clearly details the circumstances that hindered the student's academic performance, how the circumstances have been resolved or managed to permit the student to meet the standards, and relevant documentation should accompany the appeal form. Acceptable reasons to appeal include, but are not limited to: illness or injury of the student, illness or death of an immediate relative of the student, divorce or separation of the student, etc. Relevant documentation may include a physician's letter, hospital records, death certificate, obituary, or court documents.
The appeal will be reviewed by the financial aid director and the Financial Aid Appeals Committee before granting reinstatement to students and before the Financial Aid Office will consider an appeal for financial aid eligibility reinstatement. All decisions of the SAP appeals by the financial aid director and committee are final. A written decision regarding the appeal will be sent to the student in a timely manner.
• Transfer of College Level Credits - Students transferring to Little Big Horn College from another institution of higher education must inform the Financial Aid Office. The Financial Aid Office is required by federal law to make adjustments to prevent or correct over awards. When a student transfers from another college/ university, the student will start out on good academic status at Little Big Horn College, regardless of the student’s academic status at the previous college/university. Grades for courses transferred must be A, B, C, or D, and courses transferred must be above 100 level. Transfer credits are not used in calculating GPA.