Southern California University of Health Sciences - Consumer Information Guide
SCU distributes this Consumer Information Guide which includes a notice of the availability of information required pursuant to specific requirements under the Higher Education Opportunity Act. Read this PDF and know SCUHS consumer information guide.
SCU distributes this Consumer Information Guide which includes a notice of the availability of information required pursuant to specific requirements under the Higher Education Opportunity Act. Read this PDF and know SCUHS consumer information guide.
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If the student has attended long enough to earn 60% or more <strong>of</strong> the aid, no further calculation is<br />
needed and all the aid for the semester is retained. If less than 60%, the percentage <strong>of</strong> aid earned<br />
is then multiplied by the total amount <strong>of</strong> Title IV aid that was disbursed or was eligible to be<br />
disbursed for the term. The result is the amount <strong>of</strong> Title IV aid earned by the student. For<br />
example, the student earned 23.5% <strong>of</strong> the aid for the semester and received the following awards:<br />
Unsubsidized Direct Federal Loan $5970<br />
Subsidized Direct Loan $4229<br />
Total Aid $10,199<br />
The calculation would be 23.5% x $10,199 = $2,396.77. The amount <strong>of</strong> the total aid received<br />
that the student earned is $2,396.77.<br />
Next, the amount <strong>of</strong> aid earned is subtracted from the total amount <strong>of</strong> aid received to determine<br />
the amount that must be returned to the Title IV programs. Continuing our example, the<br />
calculation would be $10,199 – $2,396 = $7,802.23.<br />
The Return <strong>of</strong> Title IV funds regulations require SCU to return a portion <strong>of</strong> the unearned aid. The<br />
amount is calculated by multiplying the percentage <strong>of</strong> unearned Title IV aid (100% – 23.5% =<br />
76.5%) by the institutional charges for the term.<br />
For example, the student had the following institutional charges for the term:<br />
Tuition $3735<br />
Total Charges $3735<br />
In this example, the calculation is $3,735 x 76.5% = $2,857.28. SCU must return $2,857.28 <strong>of</strong><br />
the student’s Title IV aid back to the programs. The school is required to repay the following<br />
sources in order, up to the total net amount disbursed from the source:<br />
1. Unsubsidized Direct Federal Loan<br />
2. Subsidized Direct Federal Loan<br />
In this case, the entire $2,857.28 would be returned to the Unsubsidized Direct Federal Loan<br />
because the student originally received more than this amount from that source.<br />
While SCU would be required to return $2,857.28 <strong>of</strong> the $7,802.23 unearned aid amount, the<br />
student would be responsible for the remainder. However, if the remaining portion was from aid<br />
originally awarded as loans, the student pays the remaining unearned aid according to the terms<br />
<strong>of</strong> the borrower promissory note <strong>of</strong> the loan. In most cases, repayment <strong>of</strong> a student loan begins 6<br />
months after the student withdraws or ceases to be enrolled at least half time.<br />
Return <strong>of</strong> Title IV Funds Policy in a Modular Term(s)<br />
The U.S. Department <strong>of</strong> Education has specific regulations that govern the Return <strong>of</strong> Title IV<br />
Funds calculation for students enrolled in modular courses. The intent <strong>of</strong> the regulation is to<br />
provide for consistent and equitable treatment <strong>of</strong> students who withdraw from a program<br />
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