Federal Funds Return Policy
When a Student Withdraws
There are two types of withdrawals: official and unofficial. Official withdrawals entail enrollment changes, such as dropping classes. Unofficial withdrawals involve lack of participation, such as when a student remains enrolled but does not participate.
Official withdrawals trigger an immediate re-evaluation of financial aid eligibility. Re-evaluation of financial aid eligibility for unofficial withdrawals occur after the semester is over. In both instances, the Financial Aid Office evaluates the student’s enrollment period, types of aid, amounts of aid, scheduled classes, participation (or lack of) in classes, and date of withdrawal.
The result could be full repayment, partial repayment, no repayment, or overpayment and repayment.
Students with modular classes must complete at least 6 credits or 50% of their scheduled enrollment period to be considered to have earned all their aid, and therefore would not owe back. Students with all full-semester classes must complete at least 60% of their scheduled enrollment period to be considered to have earned all their aid. Any amount owed will be placed on the student account.
The Financial Aid Office will send a notice of repayment requirements immediately.
Student Billing will also send monthly notifications regarding any balance owed.
While repayment exists, the student’s college records will be restricted.
Recalculating Financial Aid Eligibility Due to Withdrawals
Federal law specifies how a school determines the amount of federal financial aid students have earned and how much must be repaid to the federal aid programs when the student withdraws from school during the semester. According to federal regulations, the amount of aid earned will be calculated on a pro-rata (percentage) basis. The percentage earned equals the number of calendar days completed before withdrawal divided by the total number of calendar days in the enrollment period, excluding scheduled breaks of five or more days..
When a student has received federal financial aid in excess of the percentage earned, the funds must be returned to the federal financial aid programs. The student may be responsible for repayment of unearned financial aid in addition to any fees owed to the college.
Pro-rata return of Federal funds is required if the withdrawal occurs before sixty percent (60%) of the student's enrollment period has elapsed.