Return of Title IV Funds Calculation Example
Example of a Title IV return of funds calculation for a Title IV recipient who is considered to have withdrawn: (Self-Paced Degree Program)
$4,420 = Institutional Charges
$4,420 = Title IV Loans
$0 = Title IV Grants
$4,420 = Total Title IV aid
Student withdrew after completing 1 out of 14 assignments.
Percent Earned 1/14 = 7.1%
Percent Unearned 100% - 7.1% = 92.9%
Amount of Title IV aid earned $4,420 x 7.1% = $313.82
Unearned Title IV due to the school $4,420 x 92.9% = $4,106.18
Amount for school to return: Compare the amount of Title IV aid to be returned ($4,106.18) to the amount of unearned charges ($4,106.18), and return the lesser amount.
UIU will return aid as follows:
- Title IV Loans $4,107.00
- Title IV Grants $0