Bunker Hill Community College

Return of Title IV Funds Policy

The calculation of the return of Title IV Funds is determined by the date that the student withdraws, which is:

• The date the student began Bunker Hill Community College's withdrawal process;
• The date the student officially notified the institution of intent to withdraw;
• The midpoint of the enrollment period for a student who leaves without notifying the institution (an unofficial withdrawal);
• The student's last date of attendance at a documented academically related activity.

Title IV aid and all other aid is earned during the time a student is attending Bunker Hill Community College. The percentage of aid earned is determined by dividing the number of days a student was enrolled by the number of days in the semester, up to the 60% point. Return of Title IV funds is no longer necessary after that point. If the student withdraws from all courses after the 60% point in the semester, Title IV aid is viewed as 100% earned. However, if a student withdraws prior to that 60% point, the student may owe back part of his or her financial aid if the financial aid office determines the student has received an amount larger than the earned amount. The refund policy for state financial aid is the same as the federal policy. A copy of the worksheet used for this calculation can be requested from the Bunker Hill Community College Financial Aid Office.

The term "Title IV Funds" includes the following programs:

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (SEOG)
• Federal Subsidized Family Federal Educational Loan (FFEL)
• Federal Unsubsidized Family Federal Education Loan (FFEL)
• Federal PLUS Parent Loan
• Federal Perkins Loan
  

In accordance with federal regulations, financial aid funds are returned and allocated in the following order:

1. Unsubsidized FFEL
2. Subsidized FFEL
3. FFEL PLUS
4. Federal Pell Grant
5. Federal SEOG Program
6. Other Title IV programs
7. Other state, private, and institutional aid
8. The student

Bunker Hill Community College will also return any funds necessary to Title IV programs upon completing the calculation. The student's responsibilities in regard to the return of Title IV funds include repaying to the Title IV or state programs any funds that were disbursed directly to the student and which the student was determined to be ineligible for via the Return of Title IV Funds Calculation. The procedures and policies listed above supersede those published previously and are subject to change. Please contact the Financial Aid Office if you have any questions about the new policy.