Withdrawal and Return to Title IV Funds
If a student withdraws or is expelled from Eastern Illinois University, then the school and/or the student may be required to return some of the federal funds awarded to the student. The student may also be eligible for a refund of a portion of the tuition, fees, room and board paid to EIU for the semester. If the student received financial assistance from an outside source, then a portion of the refund will be returned to the grant, scholarship, or loan source from which the assistance was received.
If a student adds or drops classes, this activity is displayed on the daily "drop/add" list received by the Office of Financial Aid. When a student completely drops all classes, it triggers the process to enable EIU to refund the maximum possible institutional charges.
Eastern Illinois University's Refund Policy states that any student who has registered and officially withdraws in accordance with established university procedures from the University on or before the tenth day of regularly scheduled classes shall receive a refund (100%) of all tuition and mandatory fees including any advance deposit therein. The student health insurance fee is non-refundable.
After the first ten regularly scheduled class days, but before or on the twenty-first regularly scheduled class day, any student who completely withdraws from the University shall be eligible for refund equal to one half (50%) of all tuition and mandatory fees including advance deposits therein. The student health insurance fee is non-refundable.
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 school and/or the student. The amount of Title IV Program assistance earned is based on the amount of time the student spent in academic attendance; it has no relationship to the student's incurred institutional charges. The federal formula is applicable to a student receiving Federal aid, other than Federal Work-Study, if that student withdraws on or before the 60% point in time in the semester. The student may also receive a refund of institutional charges through EIU’s refund policy.
The federal formula requires a return of Title IV aid if the student received federal financial assistance in the form of a Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Perkins, Federal Direct Student loan or Federal PLUS loan and withdrew on or before completing 60% of the semester.
The percentage of Title IV aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. Scheduled breaks of five or more consecutive days are excluded. If the amount disbursed to the student is greater than the amount the student earned, unearned funds have to be returned. If the amount disbursed to the student is less than the amount the student earned, the student is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.
Eastern Illinois University has 30 days from the date the institution determines that the student withdrew to return all unearned funds for which it is responsible. The school is required to notify the student if they owe a repayment. The school must advise the student or parent that they have 14 calendar days from the date the school sent the notification to accept a post-withdrawal disbursement. If a response is not received from the student or parent within the permitted time frame, or the student declines the funds, the school will return any earned funds that the school is holding to the Title IV programs. Post-withdrawal disbursement must occur within 90 days of the date the student withdrew.