[Oasfaa] Pro Rata Refund Calculation

[Daniel Watkins]

As I have not run across this situation in my time as a financial aid
officer, I am calling on my knowledgeable colleagues! We have a first-time
freshman that decided to completely withdraw during the first week of the
semester. This student had not turned in the necessary verification
documentation, so no FSA funds were disbursed. I was told there is a DOE
regulation that says the school cannot charge over a certain percentage for
a first-time freshman that withdraws. The term I was given is "pro rata",
but the only thing I can find is a document on the IFAP website from 96-97.
>From what I have found, this regulation has been done away with, but I
wanted to run it by you all to see if you have any other information. Thank
you for any help!

-- 
Daniel Watkins
Financial Aid Director
Southwestern Christian University

e-mail: daniel.watkins at swcu.edu
voice: (405) 789-7661 x3456

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