- What happens if I withdraw from the University?
- How do I notify the Financial Aid office that I am withdrawing?
- What happens after I withdraw from the University?
- How is the withdraw date for purposes of recalculating financial aid determined?
- What is the recalculation process?
- How will I know the results?
- How will I know if I owe a repayment?
Funds are awarded based on you attending the entire term. If financial aid funds were disbursed and you withdraw from the term within 60% from the start of the term, we must recalculate your financial aid eligibility according to the Federally prescribed Return of Title IV formula. This calculation will determine if you received funds for which you are not eligible. Check with the Financial Aid Office to find out if you will owe a repayment before withdrawing from all of your classes.
You must officially withdraw from all of your classes using the appropriate registration procedures. We will be notified of your withdrawal by the University after they have processed your request or when you notify the Financial Aid Office in writing of your intent to withdraw.
We will be notified of your withdrawal and complete the Return of Title IV (R2T4) calculation that will recalculate how much in financial aid you earned, meaning how much you keep, and how much financial aid must be returned.
We will process your R2T4 based on the following two steps:
1. After you have withdrawn, we must recalculate your eligibility according to federal regulations for the aid you have been disbursed within 60% from the start of the term:
- Fall 2013: November 6, 2013
- Spring 2014: April 9, 2014
2. Determine if you have received a financial aid refund or financial aid has been applied to your account from any of the following federal programs:
- Pell Grant
- Supplemental Educational Opportunity Grant (SEOG)
- Direct Subsidized Loan
- Direct Unsubsidized Loan
- Perkins Loan
- Parent Loan for Students (PLUS)
- Grad PLUS Loan
- TEACH Grant
- Cal Grant
- State University Grant (SUG)
The earliest withdraw date from the following will be used:
- The date you begin the school's withdrawal process, or the date you provide notification you are withdrawing, whichever is earlier; or
- If you withdraw without providing official notification, the school will use the semester mid-point, which establishes 50% attendance.
- Determine the withdraw date for the semester, as described above.
- Based on the date of withdraw, determine the percentage of the semester you attended.
- Use the percentage in Step 2, and apply it to the aid that has been disbursed for the semester or that could have been disbursed, to determined the amount you earned. This may result in two ways:
- If the amount disbursed to you is less than the amount you earned, meaning you earned more aid for the semester than what was disbursed to you, we will mail you a letter of the aid eligibility and provide you an opportunity to receive the aid.
- If the amount disbursed to you is greater than the amount you earned, meaning you were disbursed more aid for the semester than you earned, these funds are considered unearned and must be returned by the school. You will be placed in repayment of the unearned funds, in order for the school to return them
4. The University will return funds in the following order as required per regulations:
- Unsubsidized Federal Stafford Loan
- Subsidized Federal Stafford Loan
- Federal Perkins Loan
- Federal PLUS Loan (Graduate Student)
- Federal PLUS Loan (Parent)
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
- Cal Grant
- State University Grant (SUG)
The school must return unearned funds to the financial aid programs you benefited from while in attendance. The process of returning unearned funds will create a charge (debt) on your student fee account. If the University determines that you are eligible for a pro-rated refund of fees, the refund will first be applied to this debt and if the refund is greater than the debt (unearned funds), you will receive the balance. If you are not eligible for a refund, you will owe the debt to the University.
You will receive a letter from the Financial Aid Office which details your withdrawal date, applicable refund of fees, financial aid returned to programs, and any balance due or credit remaining on your account. If you owe a repayment (balance due), you will receive a billing notice from Student Financial Services for the amount of funds for which you are not eligible.
You will not be eligible for further federal financial aid, a registration & transcript hold will be placed on your account preventing enrollment in future semesters and access to University services (transcripts, etc.) until the outstanding balance owed to the University is paid in full.
-- rev. 06.03.13