Return of Title IV Funds Policy
Adjustments in financial aid awards for students who withdraw on or after the first day of classes are determined according to a formula prescribed by federal regulations. Marlboro College and the student will be required to return to the federal aid programs the amount of aid received that was in excess of the aid “earned” for the time period the student was enrolled.
The percentage of the semester completed is the percentage of aid earned: This is calculated by the number of days the student attended divided by the number of days in the payment period (i.e. semester). For example, if a student withdrew on the 20th day of a semester 114 days in length, the student would have earned only 17.5% of the aid he or she received (20/114=0.175). Students who remain enrolled through at least 60% of the semester are considered to have earned 100% of the aid received and will not be subject to a return of Federal Title IV funds. Students receiving financial aid who leave before the 60% point of the semester may not have enough “earned” aid to cover charges owed but are still responsible for satisfying their financial obligations to the College. Students considering withdrawal are strongly encouraged to confer with the Financial Aid Office and the Student Accounts Office concerning any anticipated refund of charges and adjustments in financial aid. Students may also be required to return funds released to them for personal expenses. Details of the federal regulations can be obtained from the Financial Aid Office.