Return of Title IV Funds Policy
Students receiving Federal Title IV aid that wish to withdraw from classes at Long Island University should refer to the Official and Unofficial Withdrawal Policy and complete an Application for Withdrawal Form. For students receiving Federal aid who withdraw completely before attending 60 percent of the semester, the University is required to calculate how much of Federal student aid funds must be returned. Those receiving Federal aid who withdraw completely may be billed for remaining balances resulting from the mandatory return of funds to the US Department of Education. The amount of Federal aid "earned" is determined by the withdrawal date and a calculation based upon the Federal formula. Generally, Federal assistance is earned on a pro-rata basis. A student's official withdrawal date is calculated based on the date the withdrawal form is submitted; students who unofficially withdraw are calculated as having attended through the 50% point of the term. The portion of Federal aid that was not earned by a student will be returned from the appropriate Federal student aid program(s) in the following order, Federal Direct Unsubsidized Loan, Federal Direct Subsidized Loan, Federal Perkins Loan, Federal Graduate PLUS Loan, Federal Parent PLUS Loan, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant (FSEOG).