Del Mar College

RETURN OF TITLE IV FUNDS (R2T4)

It is important that you consider very carefully the consequences of withdrawing/dropping all your classes at Del Mar College .

Return of Title IV Funds applies to all students that have been awarded assistance from a federally funded loan or grant and have completely withdrawn (officially or unofficially) from Del Mar College. Federal aid is earned in a prorated manner on a daily basis up to and including the 60% point in the semester. After the 60% point, all aid is considered earned and no refunds/repayments are required. The Department of Education considers a student who earns all non-passing grades to have unofficially withdrawn. Your instructor will report your last day of attendance and your Return of Title IV will be calculated accordingly.

• The percent earned is calculated by dividing the number of calendar days completed by the number of calendar days in the semester.

• The earned percentage received in federal assistance is the amount the student is permitted to keep. The unearned percentage (remaining amount) must be returned to the federal government by both the college and the student. This may cause the student to owe both the college and the federal government.

• The percent Del Mar College must return, on the students' behalf, will be returned to the appropriate federal fund program. Del Mar College Business Office will bill you for the amount you owe the college. The funds will be refunded to the Federal Funds Program in the following order, if applicable:

• Unsubsidized Federal Direct Student Loan

• Subsidized Federal Direct Student Loan

• Plus Loan Program

• Pell Grant Program

• Federal SEOG

• Federal LEAP/SLEAP grant

• The student must repay the amount owed to the appropriate federal program within 45 days. After the 45 th day, if payment is not received, the student's overpayment will be referred to the Department of Education for collections and to the National Student Loan Database.

• The student must then make repayment arrangements with the Department of Education in order to maintain future eligibility for federal funds.