PPM 83-500 Repayment (Policy) on www.olc.edu

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                                                   BOT  12-21-02 and 2-26-03, 07-10-11

                           RETURN OF TITLE IV FUNDS (POLICY)

Return of Title IV Funds occurs when a student withdraws from all classes without 
completing 60% of the semester. 

If Oglala Lakota College finds that the studentís living expenses incurred up to the time 
of withdrawal exceed the amount of funds disbursed, the student does not owe a 
repayment.  However, if the disbursement was greater than the studentís living 
expenses up to the withdrawal date, the student must repay the excess amount to 
Oglala Lakota College.  It is the policy of Oglala Lakota College to reimburse the Federal 
Student Aid Program and collect repayment from the student.  Thus, the student will be 
in repayment situation with OLC rather than the Department of Education.  OLC will 
attempt to collect the funds from students.  In the event that we are unable to collect the 
funds, OLC will then report an overpayment to the Department of Education or through 
submission to the National Student Loan Data System (NDSLS).  The student will be 
ineligible for further SFA funds until the overpayment is resolved.

Remember, as with refunds, FWS wages are excluded because they have been earned.
Oglala Lakota College is responsible for notifying the student of the amount owed, for 
billing the student, and for collecting the repayment.  

The percentage used in calculating a repayment will be the date the student has totally 
withdrawn from classes.

Refund Distribution --Prescribed by Law and Regulations:   

    1.   Title IV
    2.   FSEOG
    3.   Other Title IV Programs
    4.   Other Federal, Private, or Institutional Aid
    5.   The Student.

The Director of Financial Aid will use the R2T4 Federal Software for determining both 
the studentís and institutionís refunds. 

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