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<DIV dir=ltr align=left><SPAN class=242391420-31082007><FONT face=Arial
color=#0000ff>Daniel,</FONT></SPAN></DIV>
<DIV dir=ltr align=left><SPAN class=242391420-31082007><FONT face=Arial
color=#0000ff></FONT></SPAN> </DIV>
<DIV dir=ltr align=left><SPAN class=242391420-31082007><FONT face=Arial
color=#0000ff>Pro-Rata Refunds were eliminated in the 1998 reauthorization of
the Higher Education Act. You should use the Return of Title IV Funds
process as detailed in Volume 5 of the 2007-2008 Federal Student Aid Handbook,
available at </FONT></SPAN></DIV>
<DIV dir=ltr align=left><SPAN class=242391420-31082007><FONT face=Arial
color=#0000ff><A
href="http://www.ifap.ed.gov/IFAPWebApp/currentSFAHandbooksYearPag.jsp?p1=2007-2008&p2=c">http://www.ifap.ed.gov/IFAPWebApp/currentSFAHandbooksYearPag.jsp?p1=2007-2008&p2=c</A> </FONT></SPAN></DIV>
<DIV><FONT face=Arial color=#0000ff></FONT> </DIV>
<DIV align=left><FONT face=Arial size=2>
<P align=left><FONT face=Arial size=2>Pam McConahay</FONT> <BR><FONT face=Arial
size=2>Assoc. Dir., Compliance, Training & Lender Relations</FONT> <BR><FONT
face=Arial size=2>University of Oklahoma Financial Aid Services</FONT> <BR><FONT
face=Arial size=2>1000 Asp Avenue, Room 216 </FONT><FONT face=Arial
size=2>Norman OK 73019-4078</FONT><BR><FONT face=Arial size=2>(405)
325-4617 Fax (405) 325-7608</FONT> <BR><FONT face=Arial
size=2>pmcconahay@ou.edu </FONT></P>
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<FONT face=Tahoma size=2><B>From:</B> oasfaa-bounces@lists.onenet.net
[mailto:oasfaa-bounces@lists.onenet.net] <B>On Behalf Of </B>Daniel
Watkins<BR><B>Sent:</B> Friday, August 31, 2007 10:26 AM<BR><B>To:</B>
oasfaa@lists.onenet.net<BR><B>Subject:</B> [Oasfaa] Pro Rata Refund
Calculation<BR></FONT><BR></DIV>
<DIV></DIV>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! <BR
clear=all><BR>-- <BR>Daniel Watkins<BR>Financial Aid Director<BR>Southwestern
Christian University<BR><BR>e-mail: <A
href="mailto:daniel.watkins@swcu.edu">daniel.watkins@swcu.edu</A><BR>voice:
(405) 789-7661 x3456<BR><BR>*Note: This communication and attachments, if any,
are intended solely for the use of the addressee hereof. In addition, this
information and attachments, if any, may contain information that is
confidential, privileged and exempt from disclosure under applicable law. If you
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