The College must return the lesser of the amount of Title IV funds that is not earned by the student; or the amount of institutional charges that the student incurred for the payment period multiplied by the percentage of funds that was not earned. The percentage not earned is determined by subtracting the percentage of Title IV aid earned from 100%. Because of this requirement by the United States Department of Education, the College Refund Policy does not apply to students who receive Title IV assistance. If a student receives a Pell and/or SEOG grant, regardless of who actually paid the tuition and fees, the return or refund created by the withdrawal according to provisions will be made to the Pell and/or SEOG grant programs subject to the maximum amount of the award for the payment period. Therefore, no sponsoring agency that pays tuition and fees (for a student who receives Pell and/or SEOG grants) will receive a refund if the student withdraws from the College until all monies due the Pell and/or SEOG grant programs have been returned.