Withdrawing And Your Financial Aid

Withdrawing and your FInancial aid

 Processing of financial aid after withdrawing from the college

  1. Completed withdraw form with all appropriate signatures provided to the Registrar’s Office for processing.
  2. The Financial Aid Office (FAO) is notified of the withdraw by the Registrar’s Office.
  3. The FAO is required to recalculate the “Title IV” financial aid award on a pro-rated basis for the amount of time the student attended classes. The withdraw date is used to determine the length of time.
  4. The FAO returns any funds to the Federal aid program. This often leaves the student with a bill due to the college.
  5. The FAO will notify students by letter of the results of the calculation and the Business Office will send an invoice if a bill is due.

 

What aid is included in the calculation?

"Title IV Funds" refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes: Federal Subsidized and Unsubsidized Stafford Loans, Parent Loans to Undergraduate Students (PLUS), Federal Pell Grants, and Federal Supplemental Educational Opportunity Grant (FSEOG). The awards will be returned in the following order: 

  1. Unsubsidized Stafford Loan
  2. Subsidized Stafford Loan
  3. Parent Loans to Undergraduate Students (PLUS)
  4. Federal Pell Grant
  5. Federal SEOG

 A student's withdrawal date is:

  • the date the student began the institution's withdrawal process or officially notified the institution of intent to withdraw; or
  • the midpoint or later date of the period for a student who stops attending all classes without notifying the institution; or
  • The student's last date of attendance at a documented academically-related activity.

Exception: For veterans receiving veteran's benefits the withdrawal date is the last date of attendance or date of the last documented academically-related activity.