Withdrawal and Return of Financial Aid

  • Official Withdrawal

    Official term withdrawal is defined as a student's formal notification of his or her intent to withdraw from all courses for a term. A student's withdrawal date is defined as the actual date the student submits information to student records to drop a course or courses. To officially withdraw from a course or courses, a student must provide official notice to student records electronically or in person.
    A federal financial aid recipient who does not officially withdraw from a term is considered to be withdrawn if he or she does not complete all days he or she is scheduled to complete within a payment period or abandons all courses. The last day of academic attendance or attendance at an academically-related activity will be used for calculating the amount of aid to be returned to the federal government, and the student will not be eligible for a refund based on the College's refund policy.
    A student is not considered to be withdrawn from a term if at the time the student drops the last class in a term he or she submits written confirmation stating he or she will attend a later start term in the same payment period (semester).

    Return of Federal Financial Aid

    A student’s federal financial aid eligibility must be recalculated for students who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60% of a term. Federal financial aid includes Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Direct Loans and the Success Network. Institutional costs include tuition, fees and charges made in the Book Inn using federal financial aid. A student enrolled in at least one class during the full term will have the recalculation for all classes based on the date for the full term.

     


    The recalculation of eligibility is based on the percent of earned aid using the following formula:


    Percent of earned aid =   Number of calendar days completed in term
                                       Total number of calendar days in term


    Federal financial aid must be returned to the federal government based on the percent of unearned aid using the following formula:
    Aid to be returned = (100% - percent of aid earned) X the amount of federal financial aid disbursed
    The amount of aid to be returned is the responsibility of the College and the student. However, the student will be responsible for repaying the College for the amount that the College was required to return on his or her behalf less any refund for which the student is eligible. Therefore, a student who does not complete at least 60% of a term will owe a repayment to the College and/or the federal government for the amount of unearned federal financial aid.
    A student who owes the College may not be permitted to register for a subsequent term or obtain an official academic transcript until the debt is paid. Payment should be made to the business office. A student who owes the federal government may be reported to the U.S. Department of Education and be required to provide documentation of a satisfactory payment arrangement before federal or state financial aid eligibility is restored.
    See the dates that mark the 60% point of each term under Important Dates on this website.