Withdrawals and Refunds

Repayment of Aid
You may be required to repay to the University all or a portion of the financial aid you receive during the academic year if you:

• Cancel some or all of your credit courses at the University.
• Receive scholarships, grants, or fellowships not awarded through the Financial Aid Office.
• Change your state of residency.
• Receive funds for which you are ineligible.
• Receive aid that exceeds your calculated need.
• Do not complete college courses.

Financial Aid Refund Policy
You may find it necessary to withdraw from all classes during a semester. If you withdraw from the University, you may be eligible to receive a refund of tuition and course fees depending upon when you withdraw. If you received financial aid, the Financial Aid Office, as well as yourself, may be required to return all or a portion of the aid that was disbursed to you and/or your student account to the federal government. In other words, if you are a financial recipient, the refund will be returned to the grant, scholarship, or loan source from which you received funds. This situation could result in your owing money to the University, the government, or both. If your circumstances require you to withdraw from all classes, you are encouraged to contact a financial aid counselor and your academic advisor so your decision will be based on a clear understanding of the consequences of withdrawing from all classes.

Return of Financial Aid
The federal formula requires a return of Title IV aid if you received federal assistance in the form of a Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Federal Perkins Loan, Federal Direct Loan, or a PLUS loan and withdrew on or before completing 60 percent of the semester. The federal government mandates that if you withdraw from all classes, you may only keep the financial aid you have "earned" up to the time of withdrawal.

The University and/or you must return the Title IV funds that were disbursed in excess of the "earned" amount, to the federal government. If you received a credit balance refund check for financial aid that was credited earlier in the semester (which was to be used for personal expenses or non-University housing expenses), you may be required to return a portion of those funds to the University. This portion represents funds that were intended to pay your education- related expenses through the end of the semester. The amount to be returned to the University will be calculated from the date on which you officially or unofficially withdrew.

If any funds are to be returned after the return of Title IV aid, they will be used to repay University's funds, state funds, and other private sources. If an unpaid balance(s) exists, then all aid sources will be repaid before any funds are returned to you.

To determine the amount of aid you earned up to the time of withdrawal, the Financial Aid Office will divide the number of calendar days you attended classes by the total number of calendar days in the semester (less any scheduled break of 5 days or more). The resulting percentage is then multiplied by the total federal funds that were disbursed (either to your University student account or directly by check or direct deposit) for the semester. This calculation determines the amount of aid earned by you, which you may keep. You and/or the University must return the unearned aid to the federal government. The Financial Aid Office will notify you with instructions on how to proceed if you are required to return funds to the government.

Return of Financial Aid Allocation
Funds that are returned to the federal government are used to reduce the outstanding balances in individual federal programs. Financial aid returned by you and/or your parent or the University must be allocated in the following order:

1. Federal Unsubsidized Direct Loan
2. Federal Subsidized Direct Loan
3. Federal Perkins Loan
4. Federal Direct PLUS (Parent) Loan
5. Federal Pell Grant
6. Academic Competitiveness Grant (ACG)
7. National SMART Grant
8. Federal Supplemental Educational Opportunity Grant (FSEOG)
9. Other Federal loan or grant assistance
10. Other state, private, or institutional aid
11. The student

Revisions/Appeals
If your financial aid award is revised at any time during the academic year, you will receive a revised Financial Aid Award Notification. Instructions regarding acceptance of the revised aid offer will be included on the notification.

A request for a change in your award must be directed to the Financial Aid Office. Consideration depends upon the availability of funds, financial need, and the University's funding policies.