Return To Title IV Policy
The Federal Return of Title IV funds formula (R2T4) dictates the amount of Federal Title IV aid that must be returned, to the federal government by the school; and/or the student. The federal formula is applicable to an eligible student receiving federal aid who began attendance when that student withdraws. If a student did not start or begin attendance at the school, the R2T4 formula does not apply. For official withdrawals a student’s withdrawal date is the date the school received notice from the student that they are withdrawing. Official Withdrawal Process: If a student wishes to withdraw from school, they must notify the Director or the Registrar of the school. The notification may be in writing or orally. The date the notification is received is the date of determination. The Director or the Registrar will begin the withdrawal process. For unofficial withdrawals a student’s withdrawal date is their last day of physical attendance. The school’s determination that a student is no longer in school for unofficial withdrawals is determined after 14 days of non-attendance. Any aid received post LDA and prior to Date of Determination (DOD) is aid that could have been disbursed
The percentage of Title IV aid earned is equal to the percentage of the payment period that was completed as of the withdrawal date. The percentage that has not been earned is calculated by subtracting the percentage of Title IV aid earned from 100%. The percentage of the payment period completed is calculated by the hours scheduled in the payment period as of the withdrawal date divided by the scheduled hours in the payment period. The amount to be returned is calculated by subtracting the amount of Title IV assistance earned from the amount of Title IV aid that was or could have been disbursed as of the withdrawal date. If a student receives less Title IV funds than the amount earned, the school will offer the Student a disbursement of the earned aid that was not received at the time or their withdrawal which is a post withdrawal disbursement. Post withdrawal disbursements will be made from the Pell grant funds first eligible. If there are current educational costs still due the school at the time of withdrawal, a Pell grant post withdrawal disbursement will be credited to the student’s account. Any Pell grant funds in excess of current educational costs will be offered to the student and the school must receive the student’s authorization before crediting their account.
If a credit balance still exists on the student’s account after the R2T4 and institutional refund calculations are done, that credit balance will be used to pay any grant over-payment that exists based on the current withdrawal within 14 days from the date that the R2T4 calculation was performed. The over-payment must be eliminated prior to offering a credit balance to the student.
Unearned funds are returned in the following order:
Unsubsidized Direct Loan/Unsubsidized
Subsidized Direct Loan/Subsidized
Direct PLUS Loans (Parent)
Federal Pell Grant
Refunds will be made to the federal programs within 45 days of the student’s date of determination.
The statute requires that a student is responsible for all unearned Title IV program assistance that the school is not required to return. This is determined by subtracting the amount returned by the school from the total amount of unearned Title IV funds to be returned.
Post Withdrawal Disbursement
PWD –Post withdrawal disbursement is when the title IV aid disbursed is less than the Title IV aid earned at the withdrawal date, and then the student may be eligible for a post withdrawal disbursement (PWD).
Merryfield will provide written notification to a student or parent within 30 days of the date of determination of withdrawal. The Financial aid administrator or the business office will email or mail to the student a letter necessitating the type(s) of loan and the amount of PWD that is being requested.
Options to Accept or Decline Post Withdrawal Disbursement ( PWD)
A student or parent has the option to decline or give Merryfield the option to request a PWD on their behalf to pay for educational charges or institutional charges. The student or parent will also receive written guidance and information on re-paying any loans disbursed on their behalf to pay for their educational expenses. The student or parent must respond in writing within 30 days to Merryfield giving
us autonomy to request the PWD amount or ignore the letter and do nothing. Student or parent may still have additional obligations such as institutional charges that may still need to be resolved. Each student situation is different.
Post Withdrawal Disbursement (PWD) of Grant Funds
Post Withdrawal Disbursement for Grant funds requires no student confirmation. Grant funds may be applied directly to charges without student’s authorization. Merryfield will disbursed a PWD directly to a student as soon as possible, but no later than 45 calendar days after the date of determination; or disbursed as credit to the student’s account within 180 days after the date or determination, with the exception that this is all based on the student’s current Authorization form that is on file, unless for urgent situations as per student request.
A student may be dismissed by the Director of Operations of the Merryfield Academy prior to completion of the program for any of, but not limited to, the following reasons:
1. Insufficient academic progress as outlined in the school’s Satisfactory Progress Policy.
2. Failure to comply with rules outlined in the catalog covering Student Conduct.
3. Nonpayment of the tuition balance before the first day of class.
4. Fourteen consecutive days of absence without written notice to the school.
5. Failure to successfully complete the program within the maximum time frame
Students may appeal any disciplinary action taken by the school to terminate their training. An appeal must be in writing, providing thorough explanation of events leading up to said action and why the student feels the action should be reversed. Appeals must be submitted within five days of the student’s termination. Appeals received must be reviewed by school administration within 5-7 business days. Students will be notified of the school’s decision promptly. The Director of Operations will render the final resolution on all appeals.
Returns and Credit Balances
Refunds are paid within 14 days by check or cash if the refunded amount is $50.00 or less.