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Return to Title IV Policy

Title IV funds (Pell Grant and FSEOG) are awarded under the assumption that you will attend school for the entire semester or payment period for which you have been awarded.  When you withdraw, you may no longer be eligible for the full amount of aid that you were originally scheduled to receive. IVC is required by regulation to complete a Return to Title IV Calculation for any student that withdraws from all classes (ceases to attend) during the payment period. The purpose of the calculation is to determine the earned and unearned amounts.

If you withdraw from all classes on or before completing  60% of the payment period, the percentage of Title IV funds earned will equal the percentage of the calendar days completed in the payment period prior to the withdrawal date or the last day of attendance. If you withdraw after completing 60%, you will have earned 100% of the Title IV funds awarded. Any unearned portion will be returned by the college and by the student in accordance with the method prescribed in the regulations.  The amount will be returned in the following priority:

  1. Federal Pell Grant
  2. Federal Supplemental Educational Opportunity Grant (FSEOG)

If you are required to repay any unearned portion of your award you will receive a letter detailing the amount you owe and the process for repayment.  You will have 45 days from the receipt of that letter to repay the amount in full to the college or your overpayment will be reported to the US Department of Education, which will then contact you for repayment.  You will be ineligible for any additional Title IV funds until repayment is made in full. To contact the U.S. Department of Education regarding an overpayment, call 1-800-621-3115.

If you are eligible for Title IV funds that are yet to be disbursed at the time of calculation, you will receive a Post Withdrawal Disbursement notifications letter informing you of the award eligibility, the amount that you are eligible to receive, the deadline to respond and the instructions on how to accept the disbursement. Payments accepted will be made within 45 days. 

If any credit balance is due at the time of the calculation, payment will be made within 14 days. 

For the 2022-23 Academic Year, the following dates represent the 60% of point of each payment period:

 Payment Period  60% point
 Fall 2022  October 20, 2022
 Winter/Spring 2023  April 27, 2023
 Summer 2023  June 29, 2023

If you are planning to withdraw from classes or drop out of school, consider discussing the decision with an academic counselor.  There are programs or services to assist students in staying on track with their educational goals.  However, if you must leave, contact the Admissions and Records office for the process to be followed. Click here to see a video related to dropping courses and/or withdrawing.

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