Know the FAFSA Code – 001980

University of Pikeville

Office of Financial Aid
Administration Building
Ground Floor 002
(606) 218-5254
FinAid@upike.edu

 

When a student withdraws from the University of Pikeville, as defined by dropping to zero credits for the semester, the University will implement two different refund/adjustment policies.  These are distinct and not related to each other. 

Tuition Adjustment/Refund Policy 

Tuition and Food/Housing charges shall be prorated as follows for all programs with terms 15 weeks or longer in length: 

  • 100 percent during the first week of an academic semester (0% of tuition is charged) 
  • 75 percent during the second week of an academic semester (25% of tuition is charged) 
  • 50 percent during the third week of an academic semester (50% of tuition is charged) 
  • 25 percent during the fourth week of an academic semester (75% of tuition is charged) 
  • 0 percent after the fourth week of an academic semester (100% of tuition is charged) 

There are no adjustments for individual classes dropped after the first week of classes. 

Refer to your program Catalog for Summer, Masters, or other term-length adjustment/refund policies  (any terms less than 15 weeks in length). 

Financial Aid Refund Policy 

The financial aid a student receives will be calculated based on federal guidelines.  Title IV Return Calculation Procedures – The following steps outline the general procedures used to calculate a Title IV return: 

  • A. Determine the last date of attendance as indicated on the withdrawal form or determined by the Registrar.  
  • B. Determine percentage of aid earned by calculating the percentage of the period that the student completed.  
  • C. Aid is prorated because of the formula.  
  • D. Determine the amount of earned aid by applying the percentage of the total Title IV aid that was or could have been disbursed.  
  • E. Determine the amount of unearned aid by subtracting earned aid from disbursed aid.  
  • F. If unearned funds must be returned, determine the school’s and the student’s shares.  
  • G .If unearned funds must be returned, allocate unearned aid to the program from which the student was funded.  
  • H. Return the institution’s share and any funds repaid by the student or refer the student to ED; or make the post-withdrawal disbursement.  
  • I. Institutional aid is prorated at the same rate as federal aid.  
  • J. State aid is returned based on the week they withdraw.  
    • Week 1- return 100% of aid.  
    • Week 2- return 50% of aid.  
    • Week 3 and beyond- no return of funds  
  • K. A letter is generated notifying the student of earned aid eligibility.  

The portion of the unearned funds the school is responsible for paying is returned by the school immediately. The student is then notified of the school’s responsibility to return funds to the federal aid program, and is subsequently billed, via a balance on their institutional account for any funds the school was required to return. Any funds returned by the school represent a debt owed by the student to the University of Pikeville. A student may not enroll in subsequent terms, or have academic records released, until such time that all debts have been repaid to the institution. The University of Pikeville is required to return unearned financial aid assistance in a particular order when a student officially or unofficially withdrawals:  

  • A. Unsubsidized Direct Loans  
  • B. Subsidized Direct Loans  
  • C. Federal Perkins Loans  
  • D. Direct PLUS Loans  
  • E. Federal PELL Grant  
  • F. Federal SEOG  
  • G. TEACH Grant