Page History

Term Dates                                      Refund Request Form             Financial Aid                         Refund

                                                        Submission Date By                 Disbursement Date             Date

Graduate/Online Terms

Fall I               08/20/23 – 10/14/23          08/25/23                              08/30/23                               09/08/23

Fall II               10/15/23 – 12/13/23         10/20/23                              10/25/23                               10/30/23

Spring I           01/07/24 – 03/02/24         01/12/24                              01/17/24                               01/22/24

Spring II          03/10/24 -  05/04/24         03/13/24                              03/18/24                               03/22/24

Summer I       05/05/24 – 06/29/24          05/10/24                               05/15/24                               05/20/24

Summer II      06/30/24-   08/24/24         07/06/24                                07/11/24                              07/22/24

Day TermsFall  A              08/20/23 – 09/16/23          08/28/23                              08/30/23                               09/08/23

       B              09/17/23 – 10/14/23          09/23/23                               09/25/23                               09/29/23

       C              10/15/23 – 11/11/23          10/23/23                              10/25/23                               10/30/23

       D              11/12/23 – 12/13/23          11/15/23                              11/17/23                               11/27/23

Spring A          01/07/24 – 02/03/24          01/15/24                              01/17/24                               01/22/24

            B          02/04/24 – 03/02/24          02/10/24                              02/12/24                               02/16/24

            C          03/10/24 – 04/06/24          03/16/24                              03/18/24                               03/22/24

            D          04/07/24 – 05/04/24          04/15/24                              04/17/24                               04/22/24

Summer           05/05/24 – 06/01/24          05/13/24                              05/15/24                               05/20/24

Title IV funds affected by this policy include: Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan, Federal Direct PLUS Loan, Federal Direct Graduate Plus Loan  and TEACH Grant. Title IV funds are awarded to a student under the assumption the student will attend school for the entire period for which the assistance is awarded. When a student withdraws or stops attending all of his or her classes for a two week period, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. 

The university is required to calculate a “Return to Title IV Refund Calculation” (R2T4) if the student has stopped attending or withdrawn prior to completion of 60 percent of the term. 

If Title IV financial aid has been used to pay for all or any portion of

these charges,

financial aid program funds will be reimbursed to the appropriate agency in accordance with a formula required by federal regulations.

Unearned Title IV funds will be returned to the Title IV Programs based on the number of days not attended.

A student is eligible for a post-withdrawal disbursement if the R2T4 calculation shows that the student was eligible for aid that the school was unable to disburse prior to their withdrawal.  To be eligible for a post-withdrawal disbursement, the university must have received a valid FAFSA with an official SAI prior to the student’s withdraw date.    The university must notify the student that they are eligible for a post-withdrawal disbursement within 30 days from the date of determination that the student withdrew.   The disbursement must be completed within 180 days of the withdraw date.  Title IV grant funds must be disbursed before Title IV loan funds.  Title IV grant funds have to be disbursed no later than 45 days after the date the student withdrew.  The university can disburse Title IV grant funds without the student’s permission for current charges but written authorization from the student is required if the post-withdrawal disbursement is for non-current charges or if the funds to be disbursed are Title IV loans.

When a return of unearned Title IV funds is required, the university must return the lesser of:

• the student’s institutional charges multiplied by the unearned percentage, or
• the entire amount of excess funds.

The order of refunds will be:

• Federal Direct Unsubsidized Loan

• Federal Direct Subsidized Loan

• Federal Direct PLUS Loan

• Federal Pell Grant

• Federal SEOG

• Federal TEACH Grant
• Other Title IV aid programs

The university is required to return unearned Title IV funds within 45 days of the date the university determined the student withdrew.

R2T4 requirements are separate from Lynn University’s refund policy.  Therefore, this policy may result in a financial obligation that is payable to the university at the time of a student’s withdrawal or when the school determines the student has stopped attending classes.

Example: Student received a Direct Subsidized Loan for $1,732, a Direct Unsubsidized Loan for $990 and a Direct Parent PLUS for $18,152 during the fall semester. Student attended almost four weeks into the semester and then withdrew from all of their classes for personal reasons.  Based on the student’s last day of attendance, the R2T4 calculation determines that the student attended for 26 days and earned 26.5 percent of their federal student aid for the payment period. The student is eligible for $5,532 of the aid that was disbursed (26.5% x $20,874) and the school is required to return the difference of $15,342: $1,732 Direct Subsidized Loan, $990 Direct Unsubsidized Loan and $12,620 Direct Parent PLUS Loan. The student will owe this amount to the university as charges would not be adjusted after 25 days into the semester, per the schools refund policy.

ALL Lynn University grants and scholarship funds will be pro-rated based on the amount of weeks they actually attended the University.  This policy may result in a student having a financial obligation to the

University which is payable at the time of a student’s withdrawal.

cancelled due to the withdrawal

. Refund checks will be mailed to the permanent home address on file within four to six weeks of the withdrawal date.

Any remaining balance due after the refund

adjustment

is the obligation of the parent/student.