Section 70. Refund of awards

Latest version.

A student who receives an award and who, during a term, withdraws from the institution that made the award must surrender the balance of the award. In determining the earned portion of the award that the student may retain, the institution shall apply the percentage of earned aid resulting from the federal Return to Title IV formula to the student's award amount.

Historical Notes

Derived from Volume 31, Issue 18, eff. July 1, 2015.

Statutory Authority

§ 23-38.53:4 of the Code of Virginia.

                    
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