Students are awarded Title IV funds (financial aid from completing FAFSA) for educational purposes with the assumption that they will attend school for the entire payment period or term for which federal aid is awarded. Federal regulations require students who are receiving any federally funded Title IV financial aid (loans, grants, etc.) to attend classes more than 60% of the term in order to qualify for their full financial aid eligibility.
Campbell University is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term.
The University must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment as applicable, in the following order, up to the net amount disbursed from each source:
- Unsubsidized Direct Loans (other than Direct Plus Loans)
- Subsidized Direct Loan
- Direct PLUS Loans (parent or graduate)
- Federal Pell Grants for which a return of Title IV funds is required
- FSEOG for which a return of Title IV funds is required
- TEACH Grants for which a return of Title IV funds is required
- Iraq and Afghanistan Service Grant, for which a return of Title IV funds is required