Repayments are defined as the portion of aid, received by a student after university direct charges have been paid by that aid, which must be repaid when a student withdraws or is dismissed.
Refunds and repayments to the Title IV programs are determined according to the formula published in the current “Federal Student Financial Aid Handbook.” The Financial Aid Office is responsible for calculating the amount of the refund and/or repayment and for the distribution of the correct amount back to the financial aid program(s) according to the Refund/Repayment Allocation Policy when a student withdraws from the university.
Failure of a student to repay the aid shall result in a “hold” being placed on his or her record. Thus, until a repayment is made, the student cannot re-enroll or obtain an official academic transcript.