Federal regulations require Financial Aid Services to apply a formula established by the U.S. Department of Education to determine the amount of federal financial aid a student has earned as of the date in the student last attended classes.
The amount of federal financial aid returned to federal aid programs is determined by the amount of time the student spent in academic attendance, but has no relationship to the institutional charges incurred by the student.
After 60% of the semester has passed, the student has earned 100% of the federal financial aid awarded to them. For students receiving state financial aid, a state refund calculation will be completed. The state refund calculation takes into consideration the amount the student owes and the amount of federal aid the student may remain eligible for.