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WITHDRAWAL REQUIRES PAYBACK
Federal regulations mandate that Title IV financial aid funding must be repaid when a student withdraws from classes prior to the 60% point of the semester. In short, recipients of Federal student aid funds must return the unearned portion of all Federal funding (excluding Work-Study). The unearned portion is the percentage of time remaining in the semester multiplied by the amount of Title IV funding the student received on his/her behalf, up to the 60% point of the semester. The regulations also stipulate that students who cease attending classes without formal withdrawal will be considered to have earned 50% of their Title IV aid and must return the unearned portion. Please note that returning Title IV funds does not excuse the student’s obligation to meet Satisfactory Academic Progress requirements.