· SNHU has 45 days from the date of determination that the student withdrew to return all unearned funds for which we are responsible for.
SNHU divides the number of days attended by the number of days in the period, excluding scheduled breaks of five days or more, and days on an approved leave of absence. The result is the percent earned, except that 100% is earned if greater than 60% of the payment period has been completed.
The percent earned multiplied by the total FSA for the payment period is the amount the student earned based upon his or her withdrawal date. If this amount is greater than what was actually disbursed, then SNHU will offer the student a post-withdrawal disbursement, provided the funds meet the conditions for a late disbursement. If the amount that was actually disbursed is greater than the amount earned, the excess is considered unearned FSA.
SNHU will return a portion of any unearned FSA based upon the student’s institutional charges for the payment period. Institutional charges include tuition. The total amount of institutional charges is multiplied by the percent earned (100% minus the percent earned) to determine the unearned amount of institutional charges. SNHU will return the lesser of the unearned institutional charges or the total amount unearned.
SNHU will return FSA to the programs from which the student received aid during the payment period in the following order, up to the net amount disbursed from each source:
- Pell Grant
- Iraq and Afghanistan Service Grant
- Direct Loan
- Perkins Loan
- Direct Parent or Grad Plus Loan
Federal Work Studies (FWS) funds are not included in the calculation.
Return of Title IV funds requirements do not apply to a student who:
- Withdraws from some classes but remains enrolled in others at Southern New Hampshire University; or
- Never attended any classes, or for whom SNHU cannot document attendance in at least one class for the payment period or period of enrollment. If the student never attended any classes or the school cannot document the student’s attendance in at least one class, the student did not establish eligibility for Title IV aid for the period and all funds must be returned.
Under the October 29, 2010, final regulations, for all programs offered in modules, a student is considered to have withdrawn for Title IV purposes if the student ceases attendance at any point prior to completing the payment period, unless SNHU obtains written confirmation from the student at the time of the withdrawal that he or she will attend a module that begins later (no greater than 45 calendar days) in the same payment period.
If SNHU obtains a written confirmation of future attendance but the student does not return as scheduled, the student is considered to have withdrawn from the payment period. The student’s withdrawal date and the total number of calendar days in the payment period are the withdrawal date and total number of calendar days as of the student’s last day of attendance (those that would have applied if the student had not provided written confirmation of future attendance).