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< Financial Aid HomepageReturn of Title IV Funds/Institutional Refunds
Rights and Responsibilities
Education after high school involves your time, money, and effort. It is a big investment that carries with it many rights and responsibilities. As a student, you have the right to know:
- names of ULM's accrediting or licensing organizations
- about ULM's programs, physical facilities, and faculty
- the cost of attendance (see Schedule of Classes)
- the policy on refunds to students who drop out (see below)
- what types of aid are available
- the procedures and deadlines for submitting financial aid applications
- the criteria used to select financial aid recipients
- how your financial need is determined
- how much of your financial need has been met, as determined by the institution
- the methods and date of aid disbursement
- where to find further information regarding the type of aid you receive
- the interest rate, total amount to be repaid, length of repayment, starting date of repayment, and cancellation and deferment provisions for each loan you receive
- the type of job, hours, duties and rate of pay if you are offered a College Work-Study job.
- the current standards of progress and the consequences if you don't meet these standards
- what special facilities and services are available to the handicapped
If you believe a mistake has been made or if your enrollment or financial situation changes, you may ask to have your financial aid package reviewed.
As a student, it is your responsibility to:
- complete the application for financial aid accurately
- submit it on time to the correct place
- meet deadline for applying and reapplying for aid
- provide documentation, verification, corrections, or new information if requested
- read, understand, and keep copies of all forms you are asked to sign
- comply with the provisions of all agreements you sign
- notify the Financial Aid Office of any change in your name, address, or enrollment status.
- perform job duties as required if you are awarded a College Work-Study job
- understand your school's policy
ULM accreditation documents may be viewed at http://ulm.edu/upa/
Return of Title IV Funds Policy
This policy is applicable to all ULM students who receive Title IV aid and who resign (either "officially" through the Registrar's Office - OR - "unofficially" by no longer attending classes) from ULM before completing 60% of the semester.
Applicable to ALL ULM students
- The student’s withdrawal date is used to determine the student's percentage of earned aid. The withdrawal date is used also to determine what percentage of the enrollment period the student actually completed.
- The percentage of earned aid is subtracted from 100% to determine the amount of Title IV Aid the student has not earned. (This is the student’s percentage of unearned aid.)
- The percentage of unearned aid is multiplied by the amount of Title IV Aid that has been disbursed to the student to determine the amount of aid that the student must return.
- The amount of Title IV Funds that the school must return to the Title IV Program is calculated by multiplying the total institutional cost by the percentage of unearned aid.
- When a student’s aid is returned as a result of not completing 60% of classes, the student should contact Student Account Services, 342-5116, to resolve the remaining balance.
If the percentage of earned aid is greater than 60%, the student does not have to return Title IV Aid.
If you resign ("officially" or "unofficially"), you are responsible for returning the unearned portion of your financial aid package, including but not limited to Pell Grants and Stafford Loans. If you do not return these unearned funds, you may not be eligible for future financial aid at this or other universities.
Amounts that must be returned to the Title IV Program must be returned in this order (both policies):
- Unsubsidized Federal Family Education Loan
- Subsidized Federal Family Education Loan
- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal Perkins Loan
- Federal Family Educational Loan PLUS Loans
- Federal Direct Plus Loans
- Federal Pell Grant
- Federal SEOG
- Other Title IV Assistance
Resignation/Withdrawal Policy
See also: Financial Aid Withdrawal Policy
Please be aware that if you drop all classes, your financial aid may be reviewed and a portion of your financial aid may have to be returned. It is your responsibility to attend and pass all classes for which you register.
Those students who fail to pass and/or attend all classes will also have their financial aid packages reviewed. All professors involved will be contacted to verify the last date of class attendance. It may become necessary to return all or a portion of the financial aid awarded if it is deemed that the student did not fulfill class requirements.
If you must resign from a class or from school, PLEASE follow the proper withdrawal/resignation procedure through the Registrar's Office.
After enrolling in classes, a student who wants to resign must:
- Consult the ULM Schedule of Classes for dates and times to drop classes, notify the Residential Life Office to cancel a Room and Meal Contract if such contract was requested by the student.
OR
- After the registration period, notify the Registrar’s Office in writing to cancel classes and notify the Residential Life Office in writing to cancel a Room and Meal Contract.
- Merely discontinuing class attendance is not considered to be a formal resignation from The University. Students who discontinue class attendance and who fail to follow the established resignation procedure will be held responsible for all tuition and fees.
For more details, please contact the Registrar's Office or visit: http://registrar.ulm.edu
The University of Louisiana at Monroe adheres to the principal of equal educational and employment opportunity without regard to race, sex, color, creed, national origin, or handicap. This policy extends to all programs and activities supported by The University.
The University of Louisiana at Monroe, an institution of higher learning, maintains compliance with the requirements and regulations set forth by the Federal Family Educational Rights and Privacy Act, as amended June 17, 1976. The Family Educational Rights and Privacy Act Compliance Guidelines are available to parents and students in the Office of Student Affairs, Dean of Students, Division of Information Services, Registrar and Student Government Association.
The Financial Aid Office reserves the right on behalf of ULM to review and cancel an award at any time because of changes in the student's financial or academic status, changes of curriculum, or the student's involvement in student unrest as defined by Public Laws 91-204, 91-557, 90-575, Sections 407, 411, 504(a).
For More Information see the Office of Human Resources.
