What happens to my aid if I withdraw from the university?
For any student who officially withdraws from the university, federal regulations require a refund calculation for all students receiving Federal Title IV Funds.
The length of time during which a refund must be calculated is up to 60 percent of the payment period (semester). If a student withdraws or cancels enrollment on or before the 60 percent point in time, all or a portion of Title IV Funds (Pell Grant, Federal Supplemental Opportunity Grant, Federal Perkins Loan, Federal Subsidized, Unsubsidized, and Federal PLUS Loans) awarded to a student MUST be returned according to provisions of the Higher Educational Act Amendment of 1998.
In addition, if you withdraw prior to the 12th class day, all state and institutional financial aid will be canceled. The calculation of the return of these funds may result in you owing a balance to the university. Also, any future financial aid will be canceled.
For any student who unofficially withdraws or does not earn a passing grade in any class, federal regulations require a refund calculation for all Federal Title IV Funds. These refunds must be calculated on the 50 percent point of the semester. The calculation of the return of these funds may result in you owing a balance to the university. Also, any future financial aid will be cancelled. Students who receive Title IV financial aid, excluding the Federal Work-Study Program, will be subject to the Return to Title IV Funds Policy if the student withdraws before completing 60 percent of the semester in which he/she was disbursed Title IV Aid. Students must return unearned portions of the Title IV Funds to the Title IV Program. If the percentage of earned aid is greater than 60 percent, the student does not have to return Title IV aid.
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