US financial aid refund policy (Return of Title IV funds policy)
The University of Bristol has a clear refund policy for students attending this institution. The following is an addendum for students who are utilising US Federal aid funds, authorised under Title IV of the Higher Education Act (HEA).
If a student who is in receipt of Federal aid withdraws from the University a determination must be made as to whether any of the programme funds must be returned to the US Federal aid programme. This determination will be made in accordance with the Return of Title IV Aid requirements of section 484B of the Higher Education Act of 1965, as amended (HEA) and §668.22 of the Student Assistance General Provisions regulations.
Pro-rata refund calculations apply for any student in receipt of US Federal financial aid who withdraws within a time equating to less than 60% of the payment period. No return of funds to the Federal aid programme is required if a student withdraws within a time equating to 60% or more of the payment period.
If a student has not received a disbursement of Federal aid funds at the beginning of a disbursement period and subsequently withdraws, the amount of funds that a student has earned will be calculated and the appropriate amount will be disbursed. The remaining funds will be returned to the US Federal aid programme. Any difference between the Federal aid funds earned and University of Bristol fees due (as calculated as per the University withdrawal policy) will be charged to the student.
Withdrawal dates for students that officially withdraw will be determined by the completion of a withdrawal form and an agreement between the department and the student of a last date of attendance. Withdrawal dates for students who unofficially withdraw will be the date that departments become aware that a student ceased attendance.
Unearned Federal aid funds will be returned no later than 45 days after determining the withdrawal date.
If it is determined that refund money must be returned to the aid programme, the distribution of funds will be allocated in the following order:
- Federal Stafford Unsubsidised
- Federal Stafford Subsidised
- Federal PLUS
In determining the amount of loan funds that a student has earned upon withdrawal, the University of Bristol will calculate the percentage of the loan period attended. This will then be multiplied by the total of the Federal aid that has been disbursed for the payment period.
The University of Bristol Income Office will inform withdrawn students in writing of the amount that the University is obliged to return to the US Federal aid programme, the amount (if any) that needs to be paid to the University by the student and the amount (if any) that is due to be refunded to the student by the University.