Loans Withdrawal Procedures
Any student who leaves the University during a term, but after the add/drop period, must officially withdraw from all classes as well as notify in writing to the School of Public Policy and the Office of Student Information and Services. A withdrawal fee of $150 will be charged. In addition, students will need to contact the appropriate housing, telephone, and other personnel. Students with federal funding must also complete federal loan exit counseling. Only those students who follow these procedures and return all appropriate documents to the Office of Student Information and Services are considered to be officially withdrawn.
A school is required to determine the earned and unearned Title IV aid a student has earned as of the date the student ceased attendance based on the amount of time the student spent in attendance. The calculation of Title IV funds earned by the student has no relationship to the student's incurred institutional charges. Up through the 60 percent point in each payment period or period of enrollment, a pro rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60 percent point in the payment period or period of enrollment, a student has earned 100 percent of the Title IV funds he or she was scheduled to receive during the period. For a student who withdraws after the 60 percent point-in-time, there are no unearned funds. However, a school must still determine whether the student is eligible for a post-withdrawal disbursement.
Although the University refund policy will determine the charges a student will owe after withdrawing, those policies will not affect the amount of Title IV Aid the student has earned under the return calculation. The student will be notified by the Office of Financial Aid if they are required to return any federal loan funds.
Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. If a recipient of Title IV grant or loan funds withdraws from a school after beginning attendance, the amount of Title IV grant or loan assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.
An approved leave of absence may not exceed 180 days in any given 12-month period. If a student does not return from an approved leave of absence, the grace period of their loans will retroactively begin as of the start date of the leave of absence.
Outstanding balances on a student account must be paid in full upon withdrawal. If an account is not paid in full, it will accrue finance charges, late fees, and be placed on hold. Unpaid balances may result in the withdrawal of the student's pre-registration privileges as well as a hold being placed on academic transcript requests.
Lenders will be notified of your separation date.
Any private loan funds received in excess of the student account balance are returned to the lender.