Federal law concerning Federal financial aid recipients affects refund procedures for students who do not complete the semester.  Federal regulations do not override the institutional refund policy for students who have received federal financial aid.  Regulations specify the following:

• Withdrawal Date--For official withdrawals, the date a student withdraws is used for Return of Title IV Funds calculations, unless intent to withdraw is otherwise documented.  If you are not going to  continue to attend school, please complete an official withdrawal as soon as you decide to leave.  The University determines the withdrawal date in the case of unofficial withdrawal where the student did not complete the semester, but took no action to officially withdraw.
• Refund Amounts--Regulations provide for calculation of the amount ISU must return to Title IV programs.  The student may need to repay ISU for amounts ISU is required to return to federal financial aid programs in excess of ISU refund amounts.  The portion of the ISU refund that is greater than what must be returned to financial aid/scholarships/agencies will be returned to the student.
• Repayment Obligations—If you do not attend classes, you need to repay all financial aid.  If you do not attend, you have not established eligibility for the financial aid, and all financial aid must be repaid within 30 days.
• Repayment Obligations--If you attend classes, we calculate repayment based on R2T4 requirements.  The calculation is based on your time attending the program, withdrawal date, and the type and amount of financial aid you received.  The calculations are intended to identify the financial aid earned for the semester, and define the amount the University must return as well as the amount the student must return to the Title IV programs.