Federal Aid:
Newberry College is required to determine the earned and unearned Title IV aid a student has earned as of the date the student ceased attendance based on the amount of time the student spent in attendance. The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges. Up through the 60% point in each payment period or period of enrollment, a prorated schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds he or she was scheduled to receive during the period.
The student is required to return the difference between the amount of unearned aid and the amount returned by the College. The student will be billed for the amount the student owes the Title IV programs and any amount due to the University resulting from the return of Title IV funds used to cover College charges. If the student (or parents in the case of a PLUS loan) is required to return a portion or all of their loan proceeds, the calculated amount is to be repaid according to the loan's terms.
Funds are returned to the following Title IV sources in order of priority:
Federal Direct Unsubsidized Loans
Federal Direct Subsidized Loans
Federal Perkins Loans
Federal Direct PLUS Loans
Federal Pell Grants
Federal SEOG
Other Title IV assistance for which the return of funds is required
Other federal, state, or institutional financial assistance
Student
The Director of Financial Aid will determine refunds to federal agencies by using the Title IV refund calculation tool on the web.
State Aid:
If the student withdraws during the college’s refund period, Newberry College must determine any refund (according to the regular refund policy of the college) of the student’s state aid based on the full award of the student. If the student withdraws after the college’s refund period, (since the student incurred full tuition charges) the full tuition grant should be awarded.
The following percentages of SCTG, LIFE, Hope, and Palmetto Fellows will be returned if the student withdraws:
Prior to the first day of class: 100%
Between the first and fifth day of class: 75%
Between the sixth and tenth day of class: 50%
Between the eleventh and fifteenth day of class: 25%
After the fifteenth day of class: 0%
Institutional Aid:
The Institutional Aid Refund policy will work the same as the refund policy for Newberry College. If a student withdraws, Institutional Aid will be refunded to the college in the following percentages:
Prior to the first day of class: 100%
Between the first and fifth day of class: 75%
Between the sixth and tenth day of class: 50%
Between the eleventh and fifteenth day of class: 25%
After the fifteenth day of class: 0%
Dropping below Full Time
Any full-time student who drops below full-time to part-time status after the last day for late registration and change of courses (add/drop), will be charged tuition, fees, room, and board at the full-time rate. For the purposes of Financial Aid, enrollment status will also be set at this time and there will be no adjustments to Federal, State, or Institutional Aid.
**The regulations do not require any recalculation for changes in enrollment status after the student has begun attendance in all of his or her classes. Newberry College will, however, make adjustments to a change in Enrollment Status (full time vs. part time) until add/drop.
