Students receiving federal grants or loan funds who withdraw from LSU Shreveport before 60% of the semester has lapsed are fully responsible for repaying those funds to the United States Department of Education (DOE) and/or LSU Shreveport.
LSU Shreveport’s refund policy is used to calculate the refund of institutional charges; however, the federal “Return of Title IV Funds” formula dictates the amount of Federal Title IV aid that must be returned to the federal government by the student and the university if the student resigns.
Types of Title IV financial aid included in Title IV refunds are Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, William D. Ford Direct Subsidized Student Loan, William D. Ford Direct Unsubsidized Student Loan, and the William D. Ford Direct Parent Loan for Undergraduate Students.
For determining the percentage of Title IV aid to be returned to the DOE, the number of calendar days remaining in the semester is divided by the number of calendar days in the semester. Schedule class breaks of five consecutive days are excluded.
If funds remain after Title IV funds have been repaid, they will be used proportionally to repay LSU Shreveport scholarships and grants, other private scholarships, and then the student.
If a student receives grant or loan funds in excess of tuition and fees and he or she resigns before 60% of the semester has lapsed, the student is responsible for paying DOE the unearned portion of the grant or loan.
LSU Shreveport is responsible for paying DOE the unearned portion that was applied toward tuition and fees.
Worksheets used to determine the amount of the refund of Title IV aid are available upon request from the Financial Aid Office.
If a student earns all “F” or “NC” grades at the end of a semester and the student’s teachers report that the student did not attend class past the 60% of the semester, that student has “unofficially” withdrawn from the university and is subjected to a Title IV refund. 50% is used in calculating the “unearned” portion of the financial aid that the student has received.