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Return to Title IV ATTENTION: FINANCIAL AID STUDENTS
Facts you should
know about
If you get a GRANT and then WITHDRAW from all your classes, you will OWE money back to the federal program. Here's how it works: According to the day you withdraw, the financial aid office will calculate the part of the grant that you have "earned." If you stopped attending classes but did not notify the school of your withdrawal, we will assume you earned 50% of your grant(s) received.
NOTE: If you withdraw after you have
earned 60% of your grant, you do not owe any repayment.
For example, if you officially withdraw from all classes in Spring 2008
on or after The Financial Aid Office will use a formula determined by the federal government to figure out what you earned, and what you did not earn, calculate the amount you owe, and notify you about the repayment procedure. If you received LOAN money and withdraw, you will pay back the money according to the normal rules of the loan program. If you receive WORK money and withdraw, you do not owe anything back. You always get to keep salary you have earned.
Immediately see an academic counselor in the Financial Aid Office, Cloud Hall 324 to discuss your academic or personal reasons for leaving. Perhaps you can stay but take fewer courses. Maybe there are services (like tutoring or personal support) that will help you stay. Talk to your teachers; see what advice and help they can offer.
Begin the withdrawal process at the Office of Administrations and Records, Conlan Hall 107. The Financial Aid Office in Cloud Hall 324 will notify you of how much you will owe and how you will have to repay it. You can repay the amount owed to Student Account Services. If you leave without taking care of this and you owe money, the Financial Aid Office will have to put a NATIONAL HOLD on your student aid eligibility. After the hold is placed, you will be required to contact the Federal Government and arrange for regular re-payments. This can be done without losing your student aid eligibility. |
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