Return of Title IV Funds Policy

The Financial Aid Office is required by federal statute to determine how much financial aid was earned by students who withdraw, stopped attending, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term.

For a student who withdraws after the 60% point in time, there are no unearned funds. However, the Financial Aid Office must still complete a return calculation in order to determine whether a student is eligible for a post-withdrawal disbursement. The calculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:

Refunds are allocated in the following order:

Unsubsidized Direct Stafford Loans (other than PLUS loans)

Subsidized Direct Stafford Loans

Federal Perkins Loans

Direct PLUS Loans

Federal Pell Grants for which a Return of Funds is required

Federal Supplemental Opportunity Grants for which a Return of Funds is required

Other assistance under this Title for which a Return of Funds is required (e.g., LEAP)

Note: All financial aid information is accurate as of the time of publication. However, due to periodic changes in aid programs and in application procedures, students are encouraged to contact the University to assure that all information is current.

All applicants should address requests for information about financial aid and submit all required records and forms to

Financial Aid Office
Stevenson University
100 Campus Circle
Owings Mills, MD 21117


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100 Campus Circle, Owings Mills, MD 21117-7803 • 1-877-531-7118