KSU Return of Title IV Federal Aid and HOPE Scholarship Policy
In general, Federal and State regulations assume that you "earn" your federal financial
aid awards and HOPE directly in proportion to the number of days of the term that
you attend until you withdraw. If you completely withdraw from school or from all
your degree applicable courses during a term, the school must calculate according
to a specific formula the portion of the total scheduled financial assistance you
have earned and are therefore entitled to receive up to the time you withdraw. If
you or KSU receives more assistance than you earn, the unearned excess funds must
be returned to the Department of Education or State HOPE office. Also, if you or KSU
receives less assistance than the amount you have earned, you may be able to receive
those additional funds.
The portion of your federal student aid or HOPE scholarship you are entitled to receive
is calculated on a percentage basis by comparing the total number of days in the semester
to the number of days you completed before you withdrew. For example, if you complete
30% of the semester, you earn 30% of the assistance you were originally scheduled
to receive. This means that 70% of your scheduled awards remain unearned and must
be returned to the Department of Education or State HOPE office.
Once you have completed more than 60% of the semester, you have earned all (100%)
of your assistance. If you withdraw from KSU before completing 60% of the semester,
you may have to repay any unearned financial aid funds that were already disbursed
to you. If you received excess funds based on this calculation, KSU must return a portion
of the excess equal to the lesser of:
The student’s institutional charges multiplied by the unearned percentage of funds, or The entire amount of the excess funds If KSU is not required to return all the excess funds, you must return the remaining
amount. The order that KSU and you must return these funds is as follows:
- Unsubsidized Federal Stafford Loan
- Subsidized Federal Stafford Loan
- Federal Perkins Loan
- Federal PLUS Loan
- Federal Pell Grant
- Federal SEOG Grant
- Other Title IV Programs
- HOPE Scholarship Program
If you are required to repay loan funds, this is done in accordance with the terms
of your loan promissory note. If you must repay any grant funds, the law states that
you are not required to repay 50% of the grant assistance that you were calculated
to repay. Any grant amount that a student must repay is considered a grant overpayment
and therefore must be repaid to KSU within 45 days.
Effective Date
Kennesaw State University's current institutional refund policies regarding Title
IV and HOPE Scholarship funds have been in effect since August 19, 2000.
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