Return of Title IV Funds
Federal Title IV funds (Pell Grant, SEOG, Iraq Afghanistan Service Grant, unsubsidized and subsidized Direct Loans, Perkins Loan, and Direct PLUS Loan) are refunded to the respective programs based on Federal guidelines.
When a cadet officially withdraws or is withdrawn a determination is made on the amount of earned and unearned Title IV funds. If a cadet withdraws prior to completing 60% of the semester a pro rata schedule determines the amount of Title IV funds a cadet has earned at the time of withdrawal. After 60% of the semester is completed a cadet has earned 100% of Title IV funds. If a cadet withdraws prior to completing 60% of a semester it is likely costs covered by Title IV funds will not be covered and the cadet will have a balance due VMI.
The withdrawal process normally begins in the Commandant’s office and the process includes out processing with Student Accounting and the Financial Aid office. Cadets considering leaving VMI are advised to talk with Student Accounting and/or the Financial Aid office to determine the financial implications of withdrawal.