As a financial aid recipient, it is very important for you to visit with Financial Aid and Scholarships before deciding to withdraw. That way you can be sure you understand the consequences of withdrawing (such as repayment obligations and how it can affect your future financial aid eligibility). In order to withdraw from the university, you must complete an Online University Withdrawal Form.
Two different calculations (repayments) are applicable for a federal financial aid recipient who withdraws: the school refund calculation and the federal (Title IV) withdrawal calculation. The federal withdrawal calculation is performed by Financial Aid and Scholarships in order to determine the amount of unearned federal financial aid funds that you must repay. Once this amount is determined, Financial Aid and Scholarships will mail you a letter with the repayment details. If these funds are not repaid within the required timeframe, the debt will be transferred to collections.
Summary of the Requirements of 34 CFR 668.22
If you withdraw or are expelled from the university on or prior to the 60-percent point of the semester, you are required to repay any unearned portion of your federal financial aid. If you withdrawal after the 60-percent point, you have earned all of your federal financial aid (i.e., no federal financial aid funds will need to be repaid as a result of a withdrawal). Federal financial aid consists of the following:
Bear in mind that these rules apply only to federal or Title IV, not state and institutional, financial aid programs. You can compute a rough estimate of the amount that you will need to repay by using the U.S. Department of Education’s Treatment of Title IV Funds When A Student Withdraws form.
|60-Percent Point Dates|
|Summer 2018||Varies by Enrollment Date|
If you are a federal financial aid recipient and fail to receive earned grades (e.g., all U’s, all I's or a combination of all U's, W's or I's) in courses that span the entire period you are scheduled to complete during a semester, you are considered to have unofficially withdrawn from the university. As a result, a federal withdrawal calculation must be performed to determine the amount of Title IV funds that you must repay. The only exception is when an institution can document (within 30 days of the end of the semester) that you were academically engaged after the 60-percent point of the semester.
Note: A grade of U (Unearned Failing) is awarded to students who do not officially withdraw from but fail to complete a course (i.e., did not take a final exam, stopped attending, etc.) and failed to achieve the course objectives.
If you are a Pell Grant, Iraq-Afghanistan Service Grant (IASG) or TEACH Grant recipient, federal regulations require you to have begun attending the courses for which you are enrolled and receiving these grants. If on the census class day roster (i.e., 12th class day of each fall and spring semester and the 4th class day in July for the summer semester) you are reflected as not attending a course, you are assumed not to have begun attendance for that course. Your grant will then be adjusted or cancelled based on the courses you have actually begun attending.
If you fail to begin attendance in all of the courses for which you are registered, you will have failed to establish eligibility for financial aid. In this situation, you will be required to repay all of the financial aid that you have received.
|Proration of Pell Grant|
|Enrollment Status||Pell Grant Amount|
|Less than half time||25%|
If you drop all of the courses that count toward your degree and remain enrolled in courses that do not count toward your degree, you must be considered a withdrawal for Title IV purposes.