Student Withdrawal Financial Aid Refund Policy
Withdrawal from a class or from all c lasses may impact aid eligibility, both in the semester in which the withdrawal occurs and subsequent semesters. The University’s refunds are made based on University policy as specified in the section below. Refunds to financial aid programs are made in compliance with the U.S. Department of Education Federal Title IV Refund Policy regulations, state program policies and University regulations.
Federal Return of Title IV Aid (R2T4)
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. If a student leaves the institution prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds, and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed to him/ her, the institution would owe the student a post -withdrawal disbursement which must be paid within 120 days of the student’s withdrawal.
The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.
Refunds are allocated in the following order:
- Unsubsidized Direct Loans (other than PLUS loans)
- Subsidized Direct Loans
- Direct PLUS Loans
- Federal Pell Grants for which a Return of funds is required
- Federal Supplemental Opportunity Grants for which a Return of funds is required
- TEACH Grants for which a Return is required
- Iraq and Afghanistan Service Grant for which a Return is required
- For other assistance under this “Title” for which a return of funds is required (e.g., LEAP)
University Withdrawal Refund Policy
For students who withdraw from the University, the date of formal withdrawal is the date the form is received by the Registrar; this date determines the refund. The University’s refunds are made based on University policy as specified in the section below or in the Student Account section of this Catalog. No refund of tuition is made after the third week of a semester.
A student who withdraws from the University will have the tuition and mandatory fees refunded based on a weekly percentage using the following table below:
Fall/Spring Semesters Refund
Days 1-7 100%
Days 8-14 75%
Days 15-21 50%
After Day 22 0%
Add-Drop Period 100%
After Add-Drop 0%
The above refund applies to withdrawals from the University, not withdrawals from individual courses. Request for withdrawal from the University must be obtained from the Registrar’s Office. Neither verbal communication nor failure to appear in class will be considered official notification of withdrawal. Refunds will be granted only to those students who have followed the procedural policy of completing the proper forms. For students receiving Title IV federal aid, a return of Title IV funds policy will be applied for students who withdraw. There may be special refund consideration for students receiving any aid and withdraw. Information concerning the return of financial aid is available from the Financial Aid Office. See the Financial Aid Section of the Course Catalog.
Students suspended or expelled from the University, regardless of the amount of time remaining in the semester, are not eligible for refunds or rebates for changes associated with housing, meal plans, tuition, or fees. In the case of expelled/suspended students who also receive Title IV federal aid, a Return of Title IV Refund Calculation will be completed; this may result in the expelled/suspended student owing an additional balance to the University. This information will be determined on an individual basis by the Financial Aid Office.