Skip to content

Leaving The University and the Return of Financial Aid Funds

Updated  by kderuosi
  • PDF
  • Print
  • Copy To Clipboard

Summary

Your financial aid can be adjusted if you stop attending classes

Frequently Asked Question

Leaving The University and the Return of Financial Aid Funds

Answer

Federal Title IV (Financial Aid) funds are earned and pro-rated based upon the percentage of days a student attends through the 60% point of the semester.

 

  • The percentage of aid earned is determined by dividing the number of days the student attended during the enrollment period by the total number of calendar days in the enrollment period. In other words, a student earns aid solely on the length of time he or she attended classes or an academically related activity.
  • Until a student has passed the 60 percent point of a semester, only a portion of the student’s aid that was disbursed, or could be disbursed, has been earned. After the 60 percent point of a semester, the student is eligible for all the aid disbursed, or aid that could have been disbursed, provided eligibility criteria have been met.
  • A portion of Title IV grant and loan funds may be returned when a student begins attendance, but then leaves the university during the semester. The financial aid office will determine your eligibility for funds based upon regulations and program guidelines. Therefore, if you take a leave of absence or withdraw from school, your financial aid may be prorated for the amount of time you were in school as directed by program guidelines.
  • It is strongly recommended that students do not leave the university until they have spoken with the Student Navigation Center to see what impact that decision has on their financial aid.
  • All students should exit the university by means of the university’s official withdrawal/leave of absence procedures. These procedures and forms are available for undergraduate students in: The Navigation Center, Academic Advising, Residence Life and Veterans Services. GRADUATE STUDENTS should contact the Graduate Office to acquire the appropriate paperwork.
  • The date the student begins the withdrawal/leave of absence process is the date we will use to determine your exit date.
  •  Students who attended, but “walked away” (stopped attending all classes) and didn’t formally exit the university, will have a return of Title IV fund calculation done based upon faculty reported class attendance records. This can occur at any point during the semester a student leaves or the following semester.
  • To remain eligible for aid, any funds you owe the government as a result of this calculation must be repaid or arrangements made to pay. Therefore, it is important that students contact their aid administrator to understand their rights and responsibilities.