What happens if I withdraw from the University?
If you received financial aid and withdraw from all of your classes within the first 60% point of the term, we must recalculate your financial aid eligibility according to a federally prescribed formula. Since funds are awarded based on your attending the entire term, we must recalculate your award based on the actual number of days you attended. The calculation will determine if you received funds for which you are NOT eligible or if you are eligible for a post withdrawal disbursement.
The Center for Student Financial Aid encourages students to consult with a Financial Aid Advisor before they actually withdraw. The advisor will explain the Return to Title IV Policy and how it will affect the student.
What is the withdrawal process?
The University's official withdrawal procedures can be found in the Schedule of Classes. Upon completion of the withdrawal process on GET, or submission of the Drop Request Form to the Registrars Office, all students should apply for a tuition refund with the Disbursement Office. If you are receiving financial aid and qualify for the refund, the monies will be returned to the appropriate financial aid program.
What happens next?
The Center for Student Financial Aid calculates the amount of federal funds earned based on the number of days the student attended. Students who drop after 60% point of the term are considered to have earned 100% of the funds that have been disbursed for the quarter. Any unearned portion of financial aid that was disbursed to the student must be repaid to the university. The unearned amount may include institutional charges (tuition fees, housing, etc.) and monies disbursed to the student.
We must recalculate your eligibility according to federal regulations for the aid you have received if you withdraw from all your classes within the first 60% point of the term (on or before the following dates):
|Summer 2014||August 7, 2014||Summer 2015||July 30, 2015||Fall 2016||October 27,2016|
|Fall 2014||November 11, 2014||Fall 2015||November 09, 2015||Spring 2017||April 6, 2017|
|Winter 2015||February 19, 2015||Winter 2016||February 18, 2015||Summer||TBD|
|Spring 2015||May 14, 2015||Spring 2016||May 11, 2015|
|Summer 2016||July 14, 2016|
The Return of Title IV Policy will affect you if you are receiving the following Federal financial aid programs:
- Federal Pell Grant
- Federal Supplemental Education Opportunity Grant (FSEOG)
- Federal Direct Loans (Subsidized, Unsubsidized, and PLUS)
- Federal Perkins Loans
State Grants – Cal Grants A and B and the State University Grant – will be adjusted based on the tuition fee proration schedule as published within the Schedule of Classes each tertm.
Cal Grant B Stipend and Educational Opportunity Program (EOP) grants will not be adjusted.
What is the recalculation process?
The first step is to determine the date you began the withdrawal process. Based on available information, we use the earliest date, which is established as described above.
Based on the date you began the withdrawal process we then determine the percentage of the semester you attended. This percentage is then applied to the aid disbursed or that could have been disbursed to determine the amount you earned. If the amount disbursed to you is less than the amount you earned, we will notify you of your eligibility and give you the opportunity to receive that aid. If the amount disbursed to you is greater than the amount you earned, then unearned funds have to be returned.
Aid will be returned in the following order (as required under regulation):
- Unsubsidized Direct Stafford Loans
- Subsidized Direct Stafford Loans
- Federal Perkins Loans
- Federal PLUS Loans
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant (FSEOG)
What is the repayment process?
Students who owe a repayment are encouraged to immediately pay the amount in full to the Cashier's Office. The Cashier's Office will credit the funds to the appropriate account. However, if the student is unable to repay the amount in full, they may sign a repayment contract with the Student Loan and Collections Office, ADM 140A. The contract will allow the student to repay in monthly installments.
If the student does not complete the official withdrawal process, the Center for Student Financial Aid will use the best available information to determine the date of withdrawal to process the Return to Title IV calculation.
A post-withdrawal calculation is performed to determine the portion of earned aid that the student was entitled to prior to withdrawing. Any outstanding institutional charges will be deducted from the post-withdrawal disbursement.