The state and Institutional policies below are applied in the event that a student cancels his or her enrollment or withdraws from school. UTI/NASCAR Tech/MMI will apply the lower obligation determined from the state (if applicable) and Institutional policies to provide the student with the most favorable outcome. If the student has also received federal Title IV financial aid, a separate calculation will be performed in accordance with the Return of Title IV Funds policy as stated in this catalog. Also, in some cases, other funds such as those received from an agency will be returned to that provider in accordance with their program requirements. As federal regulations require that aid must first be applied to Institutional charges, any Title IV funds together with any other remaining funds paid on account will be deducted from the balance owed to the school. A complete copy of the obligation calculation together with the Return of Title IV Funds calculation if applicable will be mailed to the student. The student will then separately receive any remaining refund due or be billed for outstanding charges.