Contact Financial Aid

Student Financial Assistance
Nova Southeastern University
Horvitz Admin. Bldg, 1st Flr.
3301 College Avenue
Ft. Lauderdale, FL 33314

(954) 262-3380
800-806-3680
Fax:  (954) 262-3966

Contact Student Financial Assistance

Return of Title IV Funds

Title IV Funds are federal financial aid grant, work study, and loan funds in the following programs:

  • Unsubsidized Federal Direct Loan
  • Subsidized Federal Direct Loan
  • Perkins Loan
  • Graduate Plus Loan
  • Parent Plus Loan
  • Pell Grant
  • Federal Supplemental Educational Opportunity Grant (FSEOG)
  • Teacher Educational Assistance for College and Higher Education (TEACH) Grant
  • Federal Work-Study (Federal Work-Study earnings are not affected by Title IV regulations concerning the return of unearned federal financial aid)

The Office of Student Financial Assistance (OSFA) is required by the Higher Education Act of 1965, as amended in 1998, to determine the amount of financial aid that a student "earned" for an academic semester when the student does not complete at least one course within that semester. When the "earned" aid is less than the disbursed aid, the institution and student are responsible for returning the "unearned" disbursed funds to the appropriate agency.

What Students Need to Know About the Return of Title IV Funds

  • Any student who does not complete at least one course within an academic semester for which financial aid is received, or could have been received, will be reviewed for a Return of Title IV Funds calculation. This includes students who drop, officially or unofficially withdraw, are dismissed or take a leave of absence during a semester.
  • The Return of Title IV Funds is based on the premise that students "earn" financial aid for each calendar day that they attend classes. For example, if a student attends 32 days of a semester that is 80 calendar days in length, the student will have "earned" 40 percent of his or her aid.
  • Students who complete more than 60 percent of the semester are considered to have earned 100 percent of their financial aid.
  • The Return of Title IV Funds policy is separate from each college's refund policy. A student who withdraws from the semester may be required to return unearned Title IV financial aid funds and may still owe Nova Southeastern University for institutional charges. Please refer to your program's student handbook for your colleges' refund policy.
  • Return of Title IV Funds does not apply to federal work-study, scholarships, state grants such as the Florida Resident Access Grant or the Florida Student Assistance Grant, or institutional awards. Please contact the Office of Student Financial Assistance for more information on the consequences of dropping classes if you receive these types of financial aid.
  • If a student is required to return Title IV funds as a result of his or her drop, withdrawal, or dismissal, or is eligible for a late disbursement, the student will receive a letter from the Office of Student Financial Assistance along with a copy of the Return of Title IV Funds Calculation. The student should follow the instructions in the letter carefully to repay any funds due or to accept a late disbursement. Students with "unearned" financial aid funds must repay these funds to NSU or set up a grants repayment agreement with NSU's collections department within 45 days of notification or they will lose eligibility for future Title IV aid.
  • Students who drop one or more of their classes may fail to maintain Satisfactory Academic Progress which may result in ineligibility for financial aid in the future. Please contact the OSFA and speak to a financial aid counselor before dropping a course.

New Regulations Effective July 1, 2011:

Students Enrolled in Multiple Parts of Term May be Affected

Effective July 1, 2011, the U.S. Department of Education has revised regulations in regard to students enrolled in a semester with multiple parts of term. The new regulations require NSU to perform a Return of Title IV calculation for any student who ceases attendance during the first part of term unless the student provides written confirmation of future attendance for second part of term courses. Please see Example 4 for a multiple parts of term scenario.

Examples of Title IV Calculations

Jane Doe is an undergraduate student. Her semester begins on August 25 and ends December 13. On September 19 (26 days into the semester), she drops her classes.

Jane's cost of attendance is as follows:

ItemCost
Tuition $4,450
Fees $275
Dormitory $3,940
Meals $1,200
Total $9,865

Jane's financial aid package consists of:

ItemCost
Subsidized Federal Direct Loan $1,750
Unsubsidized Federal Direct Loan $2,000
Pell Grant $2,155
SEOG $750
Parent PLUS Loan $9,000
Total $15,655

Amount refunded to Jane: $5,790.

As Jane has completed only 26 days of her semester, she earned 23.4 percent of the $15,655. According to the federally mandated calculation, 76.6 percent of the unearned portion of her aid, equaling $11,991.73 must be returned.

NSU is required to return all of the following:

ItemCost
Subsidized Federal Direct Loan $1,750
Unsubsidized Federal Direct Loan $2,000
Parent PLUS Loan $3,806.59
Total Jane Owes to NSU $7,556.59

In addition, Jane is required to return to the lender $4,435.14 in Parent PLUS Loan funds.

Jane is not eligible to receive a tuition reversal because she dropped her classes after the refund period. A collections hold is placed on Jane's account at the time the funds are returned to the lender, which prevents Jane from registering for any additional classes, receiving transcripts, using the RecPlex in the Don Taft University Center, and accessing certain services available through WebSTAR.

Bob Smith is a student in the Graduate Teacher Education Program (GTEP). His term beings May 5 and ends August 14. On July 8 (65 days into the term), Bob accepts a full-time job and drops his classes.

Bob's cost of attendance is as follows:

ItemCost
Tuition $3,210
Fees $280
Total $3,490

His financial aid package consists of:

ItemCost
Subsidized Federal Direct Loan $6,000
Unsubsidized Federal Direct Loan $4,250
Total $10,250

Based on Bob's attendance (63.7 percent of the term), Bob has "earned" all of his financial aid for the term and will not have to return any funds.

Susan Thomas is a student in the M.S. in Computer Information Systems (MCIS) program. Her term begins on May 4 and ends on June 27. Her federal student loan funds are credited to her student account on April 27. On the same day, the loan proceeds are applied to cover Susan's institutional charges, and the funds in excess of those charges are refunded to her. On April 28, Susan drops her classes due to unforeseen circumstances.

Because Susan dropped her classes prior to the first day of class, she is not subject to the Title IV calculation. A 100 percent reversal of tuition and fees will be made to her student account, creating a credit balance. When a course is dropped before the student attends the first class, NSU is required to return all funds that were applied to tuition and fees. Therefore, the credit balance will be returned to the appropriate Title IV account(s). In addition, Susan is required to return to the lender the refund that she received. It is recommended that students return their loan refunds directly to NSU's Office of the University Bursar. This return of funds to the lender will ensure that there is documentation on the student's NSU student account.

The Farquhar College of Arts and Science offers courses that span a standard semester as well as courses that span two half terms during a semester. Sara Miller is enrolled in two half terms during the fall (FALL A and FALL B). On September 2, she drops all courses in Fall A.

Undergraduate First Part of Term
Aug. 22 -Oct. 16
FALL A
Undergraduate Second Part of Term
Oct. 17-Dec. 11
FALL B
Enrolled No longer enrolled still registered
Sept. 2

On September 4, Sara receives a notification to her NSU email from the Office of Student Financial Assistance requesting she complete the Confirmation of Future Attendance Form within 5 business days.

The chart below summarizes the actions that Sara may take:

Student ActionConsequence

IF

THEN

YES

If Sara selects YES, I will attend course(s) during the second part of the semester

the OSFA will not need to take further action and Sara may retain the federal financial aid funds advanced to her for the semester. (However, if she fails to attend courses as indicated, she will be considered withdrawn from the semester, and the OSFA will be required to perform the Return of Title IV Funds calculation which may result in an outstanding balance on Sara's student account.)

NO

If Sara selects No, I will not attend course(s) during the second part of the semester

Sara's Fall B courses will be dropped and the OSFA will be required to perform a Return of Title IV calculation which will determine how much of her federal financial aid Sara will have to return as unearned. This choice may result in an outstanding balance on Sara's student account.
NO ACTION

for 5 business days
If Sara does not complete and submit the Confirmation of Future Attendance Form

the OSFA must assume that Sara will NOT attend course(s) during the second part of term and the OSFA will perform a Return of Title IV calculation. Sara's Fall B courses will not be dropped. The calculation will determine how much of her federal financial aid funds will have to be returned as unearned. This may result in an outstanding balance on Sara's student account.

It is important to remember that students must return all unearned federal financial aid or set up a grants repayment agreement with NSU's collections department within 45 days of notification or they will lose eligibility for future Title IV aid.

At NSU, the following colleges and centers offer courses in multiple parts of term:

  • Center for Psychological Studies
  • College of Health Care Sciences
  • College of Nursing
  • Criminal Justice Institute
  • Abraham S. Fischler School of Education
  • Graduate School of Computer and Information Sciences
  • Oceanographic Center
  • Undergraduate Programs