Financial Aid & Policies

• Adjusted Gross Income and taxable income
• Paper losses from business, real estate properties, and capital losses
• Untaxed income and benefits
• Child support received

• Federal income taxes paid
• State and other taxes paid
• FICA taxes
• Elementary/secondary tuition allowance (an allowance for private elementary or secondary school tuition paid by the family)
• Employment allowance (an allowance for expenses related to working outside the home if both parents are employed or if the parent is single)
• Annual education savings allowance (an allowance for saving for future educational expenses for younger children while older children are in college)
  Income protection allowance (an allowance that recognizes families have basic household expenses that must be me

• Cash, savings, and checking accounts
• Home equity
• Investment Equity
• Other real estate equity
• Adjusted business/farm equity
• Parental assets in sibling's names

Two major allowances are subtracted from assets before determining how much of a family's net worth should be available to pay for college.

• Emergency Reserve Allowance (ERA) protects assets for unanticipated expenses such as illness or unemployment
• Cumulative Education Savings Allowance (CESA) recognizes a family's need to save to finance their children's college expenses

Families who have more than one child, regardless of the spacing of those children, have to pay more for college than families who have one child. Your Expected Family Contribution (EFC), as determined on the CSS Profile application, takes into account (among other things) the family size and the number in college. So, as the number in college increases, the EFC will be adjusted accordingly. By having the EFC adjusted down, a family will potentially demonstrate more financial need. The same holds for the opposite - that is, an adjustment will take place for the decrease in the number in college. So, if the number in college decreases, the EFC will increase accordingly. By having the EFC increase (or adjusted up), a family will potentially demonstrate less financial need and if a family demonstrates less financial need, all need-based aid will be reduced accordingly. Although Fairfield University is unable to meet every family's financial need, when awarding need-based financial aid, we do take into account the number in college on the CSS Profile. Starting with the 2024-2025 academic school year, the FAFSA application no longer considers the number in college in its methodology. However, the number in college questions is still asked on the form.

Fairfield University requires that the custodial parent is responsible for completing both the FAFSA and CSS Profile applications. The custodial parent is the parent who provided more than 50% of the student's financial support in the last 12 months. If this parent is remarried, the step-parent's information must also be reported on these applications. In cases of divorce or separation, the University also requires that the noncustodial parent complete the Noncustodial PROFILE Waiver Appeal Form to be considered for institutional need-based aid. It is recommended that the noncustodial parent (NCP) complete this application by the stated deadline for the student to receive a complete financial aid award.

While divorce, separation, or the unmarried status of parents may complicate the extent to which one or both parents can contribute, it does not absolve either parent of this obligation. Our policy for determining the financial need of students whose parents are divorced or separated derives from the central principle that both parents are responsible for the support of their children to the extent that they are financially capable.

If the noncustodial parent is unable to complete the Noncustodial PROFILE on a student's behalf, Fairfield may waive this requirement in extraordinary circumstances. In order to start the appeal process, students should complete and submit the Noncustodial PROFILE Waiver Appeal Form, with supporting documentation to the Office of Financial Aid by March 31.

Students often rely on the support of their parents and others to assist them with financing their education. To ensure that the matters are discussed with the approved persons and for the University to ensure compliance with FERPA regulations, the Offices of the Bursar and Financial Aid have created the PROXY process. Once you are enrolled as a student, setting up a Proxy will allow you, the student, to authorize an individual to discuss all matters relating to billing and financial aid with the Bursar and Financial Aid staff.

Proxy FAQ

All financial aid awards are estimated until the Office of Financial Aid receives all required federal tax and other applicable documents and verifies the income and asset information provided on both the FAFSA and CSS Profile (and the Noncustodial PROFILE when applicable). The Office of Financial Aid will request verification documents from selected students and their families for this verification process. Financial aid awards may change after an original offer has been made as all aid adjustments are based on verification results.

First-year students will be notified of changes made to their financial aid award and/or of verification requirements by email or mail in early spring and through the summer, before the beginning of the start of school in September. After the first-year student orientation in June, students can expect that all future financial aid correspondence, including verification notifications, will be sent to their University e-mail and updated in their my.Fairfield account.

Once notified of any verification requirements, the student (and/or parents) should submit the required documentation to the Office of Financial Aid no later than August 1. Once all required documents are received, the verification process should be completed in approximately six to eight weeks. Failure to submit documents by the verification deadline may result in a reduction or full cancellation of need-based financial aid.

Need-based aid is awarded on a first-come, first-served basis, and funding is limited. All required applications must be received by the deadline to be considered “on time” to determine eligibility for need-based financial aid. 

Admitted first-year students must complete their financial aid application process by the deadlines stated for admitted, first-year students. Need-based university aid is awarded until funding is exhausted. It is highly suggested that late applicant first-year students secure alternative funding prior to the July 1 billing date, if applicable.

Current and continuing students only need to complete the CSS Profile at their time of application and admission to Fairfield University. Students do not need to complete the CSS Profile every academic school year. The university need-based aid that was finalized during the student's freshman year will be applicable to the student for eight consecutive semesters, starting with the fall semester of their freshman year. Full time enrollment of at least 12 credits per semester and maintaining Satisfactory Academic Progress (SAP) is required for university need-based aid.

Returning students are expected to reapply for federal aid no later than April 15 each year by submitting the Free Application for Federal Student Aid (FAFSA).

Financial Aid Deadlines

Fairfield University's objective is to offer students the best financial aid award possible considering its policies (as described above), the federal financial aid funding levels, and the availability of institutional financial aid resources. Therefore, we are unable to address appeals based on any disagreement with any of our financial aid policies. Fairfield University does not negotiate need-based financial aid offers, nor is the University able to match need-based financial aid offers made by other colleges and universities.

However, if there are special or extenuating circumstances that were not considered in the initial financial aid applications or there is new documentation of a significant change in the family's financial circumstances, students can download, print, and submit a Special Circumstances Appeal Form. Please be sure to follow all instructions provided to ensure a complete review of your appeal by the Office of Financial Aid.

Submission of a special circumstances appeal neither guarantees an adjustment to a student's award, nor prevents the accrual of late fees on any unpaid student account balances.

Federal regulations and institutional policies require that special circumstances fall within certain parameters and that they are accompanied with supporting documentation. This form is designed to assist students/families in providing information critical to the review of their special circumstances appeal. The special circumstances appeal decision will be based on the circumstances as detailed in this form and from the quality of additional documentation provided by the student and family.

For students to be eligible for federal, state, or university need-based financial aid, they must be in good academic standing and must make satisfactory academic progress (SAP) toward a degree. SAP is measured at the end of each academic year and is based on both the pace of enrollment and academic performance at the time of measurement. Pace is determined by the total number of credit hours completed as a proportion of those attempted. Incomplete grades, repeated courses, and course withdrawals that occur after the drop/add period are counted in the credit hours attempted. If the student has transfer credits, the credit hours are counted in both the credit hours completed and attempted.

Academic performance is measured by GPA including grades earned only in Fairfield University courses. To make SAP, students advancing from the first year to the sophomore year are expected to have a weighted cumulative GPA of 1.90 or better. At the end of the sophomore year, students are expected to have a weighted cumulative GPA of 1.90 or better. At the end of junior year, students should have an overall weighted cumulative GPA of 2.00 or better. For both pace and academic performance, summer courses will be included as the trailing term of the academic year.

The pace of enrollment is measured by the percentage of attempted credit hours that are completed. Students must complete at least 67% of the credit hours attempted in a year in order to receive financial aid in the following year. Overall, students are eligible for university-based aid for up to eight semesters of enrollment; students may receive federal financial aid up to 150% (typically 6 years) of the normal time to degree completion. Repeated courses will be counted as part of the attempted and completed courses, and part of the 150% of normal time to completion.

Students who lose eligibility for financial aid as a result of failure to make satisfactory academic progress may appeal to be placed on financial aid probation. This appeal must include the reasons for the lack of progress and the student's anticipated steps for improvement. In order to consider the appeal, the student will need to submit an approved academic plan that will lead to achievement of SAP standards. If during the probation period the student has not successfully achieved satisfactory academic progress, the student may appeal with a modified academic plan. Probation may last for up to one academic year, unless there are extraordinary circumstances. While on probation, a student's progress will be monitored at the end of each semester.

Notification

The Office of Financial Aid will notify all students who fail to maintain satisfactory academic progress. Students will be notified of their SAP status by mail or email.

Reinstatement of Financial Aid

To have financial aid eligibility reinstated, a student may make up the credit hour and/or grade point index deficiencies in a subsequent semester without receipt of financial aid for that semester. University aid is only offered (if the student maintains eligibility) for eight consecutive semesters.

Appeal Process

A student who believes his/her failure to meet SAP standards was due to extenuating circumstances beyond his/her control may appeal in writing to the Appeals Committee. Some examples of extenuating circumstances are:

• A student's serious illness or accident
• Death or serious illness in the student's immediate family
• Cancellation/discontinuance of a class by the University
• Other unforeseeable circumstances beyond the control of the student that caused the student to fall below the satisfactory progress standards

Students should submit the SAP Appeal Form, including a personal letter, explaining the reason for the request and the reason for their current academic status. In addition, an approved Academic Plan must be completed by the student and by an administrator from the appropriate Dean's Office. The Academic Plan can be obtained in the Dean's Office of any school or Academic Plan ‌online. The SAP Appeal Form, personal letter, Academic Plan, and any other supporting documentation (if desired), should be submitted to the student's financial aid counselor in the Office of Financial Aid no later than July 1.

If an appeal for one semester of probationary financial aid is approved, a student's progress will be monitored at the end of each semester. If after the financial aid probation period, the student has not successfully achieved the required minimum GPA for reinstatement of the full financial aid award, the student may submit an appeal letter to request an extended probationary period of financial aid. Financial aid probation may last for up to one year unless there are extraordinary circumstances.

All merit scholarships awarded by Fairfield University are renewable for up to eight consecutive semesters of study provided the recipient earns the required minimum GPA for renewal. The GPA renewal requirement, which varies by level of award, is included in the initial award letter provided at the time of the student's admission to Fairfield and is measured at the end of each academic year.

Students who lose eligibility for merit scholarship as a result of failure to meet the minimum GPA requirement may appeal to be placed on merit scholarship probation. Students must submit the SAP Appeal Form, including a personal letter, explaining the reason for the request and reason for their current academic status. The appeal form, personal letter, and any other supporting documentation (if desired), should be submitted to the student's financial aid counselor in the Office of Financial Aid no later than July 1.

If an appeal for one semester of probationary merit scholarship is approved, a student's progress will be monitored at the end of each semester. If after the merit scholarship probation period the student has not successfully achieved the required minimum GPA for reinstatement of the full merit scholarship, the student may submit an appeal letter to request an extended probationary period of merit scholarship. Merit scholarship probation may last for up to one year, unless there are extraordinary circumstances.

Outside Scholarships

Generally, Fairfield University does not reduce institutional aid (merit or need-based) or adjust the financial aid award offer when a student receives an outside scholarship(s). However, aid adjustments will be made when the following conditions exist:
The combined institutional aid (merit or need-based) AND the outside scholarship(s) totals exceed the cost of attendance. The institutional aid will be reduced to an amount that brings the total combined scholarships to the cost of attendance.
A federal student aid over-award is created and the University is required to reduce federal need-based aid per federal regulations.

Merit scholarship may be reduced if the merit on top of the employee benefit exceeds tuition and the university fee. Need-based aid may be reduced if the need-based aid exceeds tuition and the general university fee.

State Aid Programs

Students from Connecticut, the District of Columbia, Maine, Massachusetts, New Hampshire, Pennsylvania, Rhode Island, and Vermont may be eligible for state grant assistance. Eligibility criteria and amounts are determined by each state. It is the responsibility of the student to meet all application deadlines set by their resident state.

International & Undocumented Students

Full-time day undergraduate international and undocumented students are encouraged to apply for financial aid using the College Board's CSS Profile. This application should be submitted by the stated deadline. Recipients of the Fairfield Tuition Grant will be notified during the first week of April. Students will be automatically considered for any merit-based scholarships based on their admission application.

Study Abroad Programs

An international learning experience has become an invaluable part of a complete undergraduate education. To help students fulfill this experience, Fairfield University allows federal, state, and institutional aid, scholarships, and monthly payment plans to be applied toward Fairfield University-affiliated programs only.

All Fairfield scholarships and aid, including federal funds, can be used towards study abroad expenses for one semester with the exceptions of athletic scholarships, FACHEX, tuition exchange, and work-study monies. With the approval of the Director of Study Abroad, Modern Language, International Business, and International Studies majors may use Fairfield University financial aid for two semesters abroad for select programs. Award adjustments will be updated in my.Fairfield and students will be notified via University e-mail of any changes to an award.

For students to be eligible for federal, state, or university need-based financial aid, they must be in good academic standing and must make satisfactory academic progress (SAP) toward a degree. SAP is measured at the end of each academic year and is based on both the pace of progression and academic performance at the time of measurement.

The pace of progression is determined by the total number of credit hours completed as a proportion of those attempted. Incomplete grades, repeated courses, and course withdrawals that occur after the drop/add period are counted in the credit hours attempted. If the student has transfer credits, the credit hours are counted in both the credit hours completed and attempted. Students must complete at least 67% of the credit hours attempted in a year to receive financial aid in the following year.
Academic performance is measured by GPA including grades earned only in Fairfield University courses. To make SAP, students advancing from the first year to the junior year are expected to have a weighted cumulative GPA of 1.90 or better. At the end of junior year, students should have an overall weighted cumulative GPA of 2.00 or better.
For both pace and academic performance, summer courses will be included as the trailing term of the academic year.

Overall, undergraduate students are eligible for university-based aid for up to eight consecutive semesters of enrollment; students may receive federal financial aid up to 150% (typically six years) of the normal time to degree completion. Repeated courses will be counted as part of the attempted and completed courses, and part of the 150% of normal time to completion.

Students who lose eligibility for financial aid as a result of failure to make pace of progression and/or maintain the minimum GPA may appeal to be placed on financial aid probation. This appeal must include the reasons for the lack of progress and the student's anticipated steps for improvement. To consider the appeal, the student will need to submit a completed SAP Appeal Form, a personal statement, and an approved Academic Plan (completed with their Dean's Office) that will lead to achievement of SAP standards. If during the probation period, the student has not successfully achieved satisfactory academic progress, the student may appeal with a modified academic plan. Probation may last for up to one academic year unless there are extraordinary circumstances. While on probation, a student's progress will be monitored at the end of each semester.

These guidelines are in accordance with those required by federal regulations for recipients of a federal grant, work, and loan programs, including the Federal Graduate Parent (PLUS) Loan.

For students to be eligible for federal or state financial aid, they must be in good academic standing and must make satisfactory academic progress (SAP) toward a degree. SAP is measured at the end of each academic year and is based on both the pace of progression and academic performance at the time of measurement.

Pace is determined by the total number of credit hours completed as a proportion of those attempted. Incomplete grades, repeated courses and course withdrawals that occur after the drop/add period are counted in the credit hours attempted. Students must complete at least 67% of the credit hours attempted in a year in order to receive financial aid in the following year. If the student has transfer credits, the credit hours are counted in both the credit hours completed and attempted. These may differ from university academic and probation standards.

Academic performance is measured by GPA including grades earned only in Fairfield University courses. In order to make SAP, graduate and doctoral students advancing through their program are expected to have and maintain a weighted cumulative GPA of 3.00 or better.

For the purposes of both pace and academic performance, summer courses will be included as the trailing term of the academic year.

Overall, graduate and doctoral students may receive federal financial aid up to 150% (typically 5 years) of the normal time to degree completion. Repeated courses will be counted as part of the attempted and completed courses and part of the 150% of the normal time to completion.

Students who lose eligibility for financial aid as a result of failure to make pace of progression and/or maintain the minimum GPA may appeal to be placed on financial aid probation. This appeal must include the reasons for the lack of progress and the student's anticipated steps for improvement. To consider the appeal, the student will need to submit a completed SAP Appeal Form, a personal statement, and an approved Academic Plan that will lead to achievement of SAP standards. If during the probation period, the student has not successfully achieved satisfactory academic progress, the student may appeal with a modified academic plan. Probation may last for up to one academic year unless there are extraordinary circumstances. While on probation, a student's progress will be monitored at the end of each semester.

Grades

Grades of F, W, or credit/no credit do not count in calculating the minimum grade point average. Grades of I (Incomplete) temporarily will not be counted until the final grade is posted. Students must comply with the requirements to convert an incomplete to a permanent grade according to the requirements as stated in the university catalog. Students who do not receive a passing grade in any coursework, i.e. all F’s or a combination of F’s and W’s may be required to return all or a portion of their financial aid if it is determined that the student stopped attending without notifying the University. Official documentation will be requested to determine when the student last participated in an academically related activity and financial aid will be returned according to federal, state, and institutional policies. This may result in the student owing a balance to the University.

Withdrawals

Students who withdraw from all coursework or take a leave of absence prior to the start of a term and later enroll in a subsequent term retain the SAP status held during their last term of enrollment.
Transfer Student Course Evaluation
Transfer students are evaluated based on the number of units accepted at admission to determine their maximum time frame to receive financial aid.

Repeat Coursework

A student who receives federal financial aid (Title IV funds) must follow Repeat Coursework rules in order to be considered as meeting enrollment requirements for financial aid eligibility and satisfactory academic progress. The federal regulations are listed below:

• A student may repeat a previously passed course once
• A student may repeat a failed course until the student passes the course
• A student who passes a course, but does not meet the grade requirement established by the college or school, may only repeat the course one time
• A student who earns a passing grade in a course and chooses to retake the course a second time earning a grad of "F" or "W" may not take the course a third time
• A student may repeat a course as an independent study, special topics, film genre, etc., as long as the subject matter is different for each course and the institution awards new credit each time.

Notification

The Office of Financial Aid will notify all students who fail to maintain satisfactory academic progress. Students will be notified of their SAP status by their university email.

Reinstatement of Financial Aid

To have financial aid eligibility reinstated, a student may make up the credit hour and/or grade point index deficiencies in a subsequent term without receipt of financial aid for that term. University aid is only offered (if the student maintains eligibility) for eight consecutive semesters.

Appeal Process

A student who believes his/her failure to meet SAP standards was due to extenuating circumstances beyond his/her control may appeal in writing to the Appeals Committee. Some examples of extenuating circumstances are:

• A student's serious illness or accident
• Death or serious illness in the student's immediate family
• Cancellation/discontinuance of a class by the University
• Other unforeseeable circumstances beyond the control of the student that caused the student to fall below the satisfactory progress standards

Students should submit:

• the completed SAP Appeal Form, including a personal letter, explaining the reason for the request and reason for their current academic status.
• an approved Academic Plan must be completed by the student and by an administrator from the appropriate Assistant Dean's Office. The Academic Plan can be obtained in the Assistant Dean's Office of any school or Academic Plan ‌online.

The SAP Appeal Form, personal letter, Academic Plan, and any other supporting documentation (if desired), should be submitted to the Office of Financial Aid (finaid@fairfield.edu) no later than July 1 (unless otherwise stated).

If an appeal for one semester of probationary financial aid is approved, a student's progress will be monitored at the end of each semester. If after the financial aid probation period the student has not successfully achieved the required minimum GPA for reinstatement of the full financial aid award, the student may submit an appeal letter to request an extended probationary period of financial aid. Financial aid probation may last for up to one year, unless there are extraordinary circumstances.

All students classified as not making satisfactory (unsatisfactory) academic progress who either withdraw or are dismissed from the university and are subsequently readmitted must complete a Financial Aid Satisfactory Academic Progress Appeal to apply for financial aid.

All merit scholarships awarded by Fairfield University are renewable for up to eight consecutive semesters of study provided the recipient earns the required minimum GPA for renewal. The GPA renewal requirement, which varies by level of award, is included in the initial award letter provided at the time of the student's admission to Fairfield and is measured at the end of each academic year.

Magis –cumulative 3.0
Bellarmine– cumulative 2.80
Loyola – cumulative 2.80
Xavier – cumulative 2.80
Community Partner Scholarship – cumulative 2.25 at the end of year one; cumulative 2.50 at the end of each subsequent year

Students who lose eligibility for merit scholarships as a result of failure to meet the minimum GPA requirement may appeal to be placed on merit scholarship probation.

Students must submit:

• the completed SAP Appeal Form, including a personal letter, explaining the reason for the request and the reason for their current academic status. The appeal form, personal letter, and any other supporting documentation (if desired) should be submitted to the Office of Financial Aid (finaid@fairfield.edu) no later than July 1 (unless otherwise stated).

If an appeal for one semester of probationary merit scholarship is approved, a student's progress will be monitored at the end of each semester. If after the merit scholarship probation period, the student has not successfully achieved the required minimum GPA for reinstatement of the full merit scholarship, the student may submit an appeal letter to request an extended probationary period of merit scholarship. Merit scholarship probation may last for up to one year unless there are extraordinary circumstances.

All Students: Undergraduate, Graduate and Doctoral

Appeals must be submitted to the Office of Financial Aid by July 1, or by other stated deadlines as provided by the Office of Financial Aid. If reinstatement of aid is sought for summer sessions, the appeal must be submitted before the first day of classes for that term. It is the responsibility of the student to initiate an appeal before a specified SAP Appeal deadline.

Fall Semester Deadline August 1

Spring Semester Deadline January 1

All students are eligible to apply for federal financial aid. The application is free and there are no absolute income cutoffs that disqualify a family from applying since family size, income, total assets, and other circumstances factor into the determination of eligibility. However, a student must be accepted by Fairfield University, matriculated in a degree program, and demonstrate enrollment of a minimum of six credits per semester to be eligible for financial aid, in addition to meeting other federal requirements.

Fairfield University also uses the CSS Profile application in awarding institutional need-based funding.

Current and continuing students only need to complete the CSS Profile at their time of application and admission to Fairfield University. Students do not need to complete the CSS Profile every academic school year. The university need-based aid that was finalized during the student's freshman year will apply to the student for eight consecutive semesters, starting with the fall semester of their freshman year. Full-time enrollment of at least 12 credits per semester and maintaining Satisfactory Academic Progress (SAP) is required for university need-based aid.

Federal aid must be reapplied for every academic year and is not guaranteed year-over-year. Returning students should apply no later than April 15th by completing the Free Application for Federal Student Aid (FAFSA).

Additional loan and payment options are available to help students and families finance a Fairfield education. These plans include the Tuition Pay Monthly Payment Plan, various loan programs for students and parents supported by the federal and state governments, and alternative student loan programs offered by private lenders.

Early Action/Early Decision candidates learn of their initial financial aid awards in February. Regular admission candidates are notified in mid-March. Returning, upper-class students are notified of their awards in June (via university email and my.Fairfield only) and transfer students are notified on a rolling basis.

There is no need to apply for individual scholarships administered by the University. A student's financial aid award may include one of these, and students will be notified of their award notification.

Please contact the Office of Financial Aid. Our contact information, hours of operation, and counselor listing can be found online. Our general email box is finaid@fairfield.edu. 

Withdrawing from all courses is considered withdrawing from the University. If you have questions about Fairfield University’s tuition and/or university aid refund policy, please refer to the academic course catalogs for your respective school. Undergraduate students should refer to the Undergraduate course catalog for this policy. If you withdraw before 60% of the semester is complete (approximately 8-9 weeks into the semester) and you have received federal aid, then your financial aid award will be recalculated, according to the percentage of the semester you completed.

The Federal Title IV formula for calculating this percentage is:
(Days enrolled) – (Official breaks of five days or longer) = Total number of class days in the semester

If a student stops attending classes without notifying the University, we will be required to recalculate your federal financial aid using the last date of an academically related activity in which the student participated, as documented by the student's instructor(s). If our office is unable to obtain the last date of an academically related activity, we will be required to recalculate your federal financial aid using the midpoint of the semester. If our office is notified that a student is a "No Show" for the semester, then the student has earned 0% of their institutional, merit, state, and federal aid.

In either case, if the Office of Financial Aid is required to return funds to federal loan programs the student could have remaining institutional charges for the term.

Federal Return of Title IV Funds Policy

The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence before completing 60 percent of a payment period or term. Federal Title IV financial aid programs must be recalculated in these situations. You must begin enrollment in the semester to be eligible for a federal student aid disbursement. Withdrawal before the semester starts will result in the cancellation of federal aid.

If a student leaves the institution prior to completing 60 percent of a payment period or term, the Financial Aid Office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula: percentage of payment period or term completed equals the number of days completed up to the withdrawal date, divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid. Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: aid to be returned equals 100 percent of the aid that could be disbursed, minus the percentage of earned aid, multiplied by the total amount of aid that could have been disbursed during the payment period or term.

If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds, and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution. If a student earned more aid than was disbursed, the institution would owe the student (or parent in the case of a PLUS loan) a post-withdrawal disbursement which must be paid within 180 days of the student's withdrawal. Students (or parents in the case of a PLUS loan) due a post-withdrawal disbursement will be emailed and mailed a notice to reply no later than 14 days of the date of the notice to confirm or refuse the disbursement. No reply will indicate a refusal of the disbursement. The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student's withdrawal. Refunds are allocated in the following order:

Unsubsidized Direct Loans
Subsidized Direct Loans
Federal Perkins Loans
Federal Direct PLUS Loans
Federal Pell Grants for which a return of funds is required
Federal Supplemental Opportunity Grants for which a return of funds is required
Federal TEACH Grants for which a return of funds is required
Iraq and Afghanistan Service Grant for which a return of funds is required

Example:
The Spring semester begins on January 16, 2018. Sarah Smith began the official withdrawal process with her dean and it was determined that her official withdrawal date would be March 7, 2018. The total number of days in the Spring semester are 107. Sarah completed 51 days of the semester or 47.7%. Sarah had a total federal aid disbursement of $4,357.00. Seeing that Sarah only completed 47.7% of the Spring semester, she also earned only 47.7% of her Spring financial aid ($4,357.00 x 47.7% = $2,078.29). The amount of Title IV aid to be Returned is calculated:
$4357.00 - $2,078.29 = $2,278.71

Next, the institution must also determine the percentage of unearned charges based on the total semester charges for the period in which the student will withdraw. First, add the total semester charges. For this example, Sarah’s total semester charges is $23,245.00. Sarah did not attend the full semester (100%). To determine the portion of the semester that Sarah attended, subtract her percentage completed from the total: 100% - 47.7% = 52.3%.

To determine Sarah’s unearned charges, the school would calculate unearned charges in the following manner:
$23,245.00 x 52.3% = $12,157.14.
Compare the amount of Title IV aid to be Returned above to the amount of unearned charges. The lessor amount is the total of unearned aid that the school is responsible to return. The amount returned is based on the amount disbursed (which may vary by students) and in accordance with the schedule above.

If the amount returned in direct loans is less than the total amount in direct loans disbursed to the student, resulting in earned loan funds or in unearned loan funds that the school is not responsible for repaying or both, Fairfield University will notify the loan holder of your withdrawal and withdrawal date. The resulting loan must be repaid in accordance with the terms of the student’s promissory note. Fairfield University will return the loan funds within 45 days of notification from the University Registrar of a student’s withdrawal.

Students will be mailed a notice of withdrawal from the Office of Financial Aid which will include a copy of the student’s withdrawal calculation indicating the amount returned by Fairfield University and the amount that is the responsibility of the student.

University Merit or Need-Based Aid Policy for Withdrawals

Students are approved for voluntary or medical withdrawal by taking the appropriate steps as prescribed in the Academic Policies section of this catalog. Students that are receiving University financial aid will have their University need-based and merit-based aid prorated based on the following schedule:

Note: For courses meeting for less than a full semester (15 weeks), financial aid entitlement will be adjusted accordingly.

Modules are courses that do not span the entire payment period (semester); an example of module courses is two 8-week classes within a 16-week semester.

A student would not be considered withdrawn and a Return to Title IV calculation would not be processed, if the student:

• provides written confirmation that they will return for another module in the same semester
• does not provide written confirmation that they will return for another module in the same semester, and does return, the Return to Title IV calculation will be reversed and the student will regain their prior eligibility
• drops a future module and is attending a current module course at the time of the drop; however, if the student’s enrollment status has changed it may result in financial aid being adjusted

A student would be considered withdrawn and a Return to Title IV calculation would be processed, if the student:

• does not complete all the days they were scheduled to complete within a semester or module for which their aid was intended for
• intends to return for another module in the same semester and does not return, the student is considered to have withdrawn based on the last day of attendance