Title IV Aid Repayment
The amount of Title IV aid you must repay is determined by the federal formula for the return of Title IV funds as specified in Section 484B of the Higher Education Act.
The amount of Title IV aid you earned during the term before you withdrew is calculated by multiplying the total aid you qualified by the percentage of time in the term that you were enrolled (college work-study not included).
Your disbursement or repayment owed:
- If less aid was disbursed to you than you earned, you may receive a late disbursement for the difference.
- If more aid was disbursed to you than you earned, you will be billed for the amount you owe to the Title IV programs and any amount due to the College resulting from the return of Title IV funds used to cover College charges.
Cambridge College will return the unearned aid to the Title IV programs as specified by law. Those programs include:
- Unsubsidized federal loans
- Subsidized federal loans
- Federal Perkins loans
- Federal PLUS loans
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grants (SEOG)
Excess Funds
Per federal regulations, excess funds from federal financial aid, over and above current charges, cannot be held without written authorization from the student.
Repayment of Massachusetts Funds
Students who received financial aid from the Commonwealth of Massachusetts are subject to the state's repayment/refund policy.