American Medical Program of Tel Aviv University
Return of Title IV Funds Policy

A recipient of Direct Loan funds who withdraws or is dismissed from the institution during a semester in which the student began attendance will have the amount of Direct Loan funds recalculated according to a federal formula, the Return of Title IV funds formula, to determine the amount of Direct Loan funds earned up to the date of withdrawal. Direct Loan funds that are not earned must be returned to the appropriate account.

The first step in calculating Return of Title IV Funds is to determine the withdrawal date. A student who would like to officially withdraw from the program must contact the Tel Aviv University Sackler School of Medicine Administrative Office who will then notify the Tel Aviv University’s Registration Office. The Tel Aviv University Sackler School of Medicine/America Program’s New York City address will also be notified. The withdrawal date is the last date of an academically related activity. If the student does not contact the institution of his/her intent to withdraw, the school must determine the withdrawal date within 14 calendar days of the student’s last date of an academically related activity.

Based on the student’s withdrawal date, if the student has attended 60% of the semester or less, the earned amount is calculated by dividing the portion of the semester completed in days by the length of the semester in days. The amount of Direct Loan funds earned equals the percent earned times the amount of Direct Loan funds disbursed or the amount of Direct Loan funds that could have been disbursed. If the student has attended more than 60% of the semester, then he or she earns 100% of the Direct Loan funds.

If the student received more Direct Loan funds than were earned, the excess Direct Loan funds must be returned by the institution and/or the student. The amount of unearned Direct Loan funds equals the difference between the Direct Loan funds that were disbursed or could be disbursed for the semester and the amount of Direct Loan funds that were earned. The percent of unearned Direct Loan funds is the difference between 100 percent and the percent of earned Direct Loan funds.

  • The institution is responsible for returning the lesser of the institutional charges for the semester times the percentage of Direct Loan funds that was unearned or the entire amount of unearned Direct Loan funds.
  • The student is responsible for returning any remaining balance of unearned Direct Loan funds. Any Direct Loan funds that the student must return will be returned in accordance with the terms and conditions of the Master Promissory Note.

The institution must return any unearned Direct Loan funds for which it is responsible within 45 days of the date of determination of the student’s withdrawal, which may be no later than 14 days from the date of withdrawal.

Direct Loan amounts will be returned by the institution and credited to the appropriate program in the following order: Unsubsidized Federal Direct Stafford Loans, Subsidized Federal Direct Loans, and Federal Direct PLUS Loans.

Students for whom a portion of the Direct Loan funds must be returned will receive communication from the Student Aid Coordinator sent to their email address indicating an adjustment has been made on their behalf. This communication will also provide instructions regarding balances on the student’s account that must be paid by the student and arrangements for repayment must be made with the Student Aid Coordinator.

In the event the amount of Direct Loan funds the student has earned is greater than the amount of Direct Loan funds that has been disbursed, the student may be eligible for a post-withdrawal disbursement. Written notification will be sent to the student within thirty (30) days of the date it is determined the student withdrew. The notification will include: a request for confirmation; a confirmation deadline of fourteen (14) days; the type and amount of Direct Loan funds it wishes to credit to the student’s account or disburse directly to the student; an option to accept or decline the post-withdrawal disbursement; and a notice of obligation to repay loan funds.

The Return of Title IV funds calculation requirement is separate from the institution’s refund policy. Therefore, after calculating the Return of Title IV funds, the student may owe tuition or other expenses to the institution. The student should make arrangements for payment with the Student Aid Coordinator.