The amount of Title IV assistance earned by the student is calculated by dividing the number of days (total calendar days) attended by the total number of days (calendar days) in the payment period. The total number of calendar days in a payment period includes all days within the period, except scheduled breaks of at least five consecutive days, which are excluded from the total number of calendar days in a payment period and the number of calendar days completed in that period. If the student’s withdrawal date occurs after 60% of the payment period, none of the Title IV aid has to be returned. Otherwise the College, the student, or both must return a portion.