Once the earned and unearned aid percentages are determined, the next step is to calculate the dollar amount of unearned aid that must be returned. The return amount is determined by multiplying the unearned aid percentage by the total of all Title IV aid received.
The responsibility to repay the unearned Title IV aid is shared by Southern Adventist University and the student. For example, the calculation may require Southern Adventist University to return a portion of federal funds to the Federal Title IV programs. In addition, the student may also be required to return funds based on the calculation.