Repayment if You Withdraw
The law requires that when you totally withdraw during a period of enrollment the amount of student financial aid program assistance that you have "earned" up to that point is determined by a specific formula. If you received less than the amount that you earned, you will be able to receive those additional funds. If you received more assistance that you earned, the excess funds must be returned.
The amount of assistance that you have earned is determined on a pro-rata basis. That is, if you completed 30 percent of the period of enrollment, you earn 30 percent of the assistance you were originally scheduled to receive. Once you have completed more than 60 percent of the period of enrollment, you earn all of your financial aid.
If you received excess funds that must be returned, contact the Financial Aid Office for an explanation of what portion of those funds must be returned.
CONTACT THE FINANCIAL AID OFFICE PRIOR TO YOUR TOTAL WITHDRAWAL FOR FURTHER DETAILS. THIS COULD JEOPARDIZE YOUR FUTURE FINANCIAL AID ELIGIBILITY AT ANOTHER COLLEGE OR UNIVERSITY!