If a student completely withdraws from the University and has utilized Federal Title IV funds (e.g. Federal Pell Grant, Federal Supplemental Educational Opportunity Grant [SEOG], Federal Perkins Loan, Federal Direct Subsidized/Unsubsidized Loan, Federal Direct PLUS Loan, Federal Direct Graduate PLUS Loan), during the semester in which they withdraw, the University will observe the federally mandated process in determining what, if any amount of money must be returned to the federal program (s).
Students who intend to withdraw from the University must complete the process as outlined in the University Catalog under the Academic Policies section. In cases where a student has received federal financial assistance during that semester, the Office of Financial Assistance will determine what, if any adjustment must be made. This determination will be based on the formula prescribed in the federal regulations for the return of Title IV funds. This determination is made on the basis of the number of the number of calendar days completed in the semester prior to the student’s notification to withdraw, divided by the total number of days in the semester. If the resulting percentage is greater than or equal to 60%, no return of federal funds will take place.
If the percentage is less than 60%, this percentage will be used to determine the portion of Title IV aid that has been "earned." The remaining amount must be returned in the following order:
NOTE: Refunds as a result of official withdrawal or leave of absence will be made in accordance with the University’s refund policies which appear in the Tuition and Fees section of this Catalog.
If the amount of money that must be returned to Title IV programs exceeds that which exists in the students account as a result of the University’s refund policy, the student will be notified as to the amount of any grant money that must be repaid. This repayment must take place in order for a student to reestablish eligibility to receive federal funds in the future. Any loan proceeds must be repaid will become part of the normal repayment procedures for the loan program.
Freshman Class of 2018 Financial Assistance application deadlines:
THE VILLANOVA UNIVERSITY DEADLINE FOR 2014-2015 FINANCIAL AID FOR RETURNING STUDENTS IS:
April 30, 2014 - Completed application materials must be postmarked by this date.
·2014-2015 Free Application for Federal Student Aid (FAFSA) must be filed PRIOR TO this date online at www.fafsa.gov.
·2014-2015 College Board PROFILE must be filed PRIOR TO this date online at www.collegeboard.com.
·Completed signed copies of custodial parent(s)’, stepparent’s, and student’s 2013 U.S. Federal or Puerto Rico Tax Return as well as 2013 W-2’s, 1099/1099R’s, and all tax schedules must be submitted to IDOC (https://idoc.collegeboard.org/idoc/index.jsp). *Do not submit tax documents to the Office of Financial Assistance*
·IRS Data Retrieval Tool: If you and/or your parent(s) filed your 2013 U.S. Income Tax Return at least two weeks before filing the FAFSA (and have paid taxes owed, if applicable), you should use the IRS Data Retrieval Tool when completing the FAFSA.
·2013 U.S. Tax Return Transcript: If you do not choose to participate in the IRS Data Retrieval Process when filing the FAFSA, you will be required to provide a copy of your and/or your parent(s)’/stepparent’s transcript to the Office of Financial Assistance. This can be requested through the IRS website at www.irs.gov.