Atlanta Campus Catalog 2009-2010 - Mercer University

Refund to Student 1,041.00
Account Balance
-0- At time of resignation
Tuition Credit (1,494.72)
University Refund to Direct Loan Program 1,494.72
Account Balance
-0- After resignation
Resignation Scenario #2: An undergraduate student formally resigns in the Registrar’s
Office on September 17th and turns in her dorm room keys and key card the same
day.
Typical Charges:
Financial Aid Disbursed:
$5,000 Federal Subsidized Direct Loan
2,000 FSEOG Award
$9,145 Tuition $7,000 Total Title IV Financial Aid
1,750 Dorm Room 3,000 Institutional Scholarship
1,480 Meal Plan 2,000 Outside Scholarship
$12,375 Total Charges $12,000 Total Financial Aid Disbursed
Calculation: Based on the same calculations used in Scenario #1 = 23.7%
Amount of charges earned
by the institution = $12,375 x 23.7% = $2,932.87
Amount of charges to be
credited to the
student’s account = $12,375 - 2,932.87 = $9,442.13
Amount of Title IV funds
earned by student = $7,000 x 23.7% = $1,659.00
Amount of Title IV funds
to be returned to
the Title IV programs = $7,000 - $1,659 = $5,341
Amount of Title IV funds
to be returned by the
University = the lesser of $5,341 or $12,375 x (100-23.7%) = $9,442.12
The University will refund $5,341, as follows:
$5,000 to Federal Subsidized Direct Loan
$341 to FSEOG Award
Amount of Title IV funds to be returned by the student = since the University returned the
full amount due to the Title IV programs, there are no funds to be returned to the Title IV
programs by the student.
Calculation of remaining credit for University charges and distribution towards non-Title
IV funds:
Total charges credited = $9,442.12
Less Title IV funds returned by the University = 5,341.00
Funds to be returned to non-Title IV funds = $4,101.12
These funds are distributed as follows:
$3,000 to an institutional scholarship
$1,101.12 to an outside scholarship
FINANCIAL INFORMATION / 41