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WHY STAY ENROLLED?
New Federal Regulations
Regarding Dropping All Classes May Cost You!
New regulations may require students to repay federal financial aid funds
if they drop or withdraw from all classes or are dropped from all classes
by the instructor due to excessive absence. Based on the date of the
complete withdrawal or drop, the Financial Aid Office is required to
determine the amount, if any, of 'unearned' federal financial aid received
by the student. The calculation will begin by calculating the percentage
of the enrollment period completed by the student as follows:
Number of days completed
Total number of days in the semester
The result will equal the
percentage of the enrollment period completed. If more than 60% of the
semester has been completed, students are considered to have 'earned" all
federal aid funds received and no repayment is required (Loan funds will
be subject to regular repayment schedules). However, students who have
completed 60% or
less of the semester based on the
withdrawal date may be subject to repayment of funds. Students should
plan their enrollment carefully to avoid repayment of federal student aid
funds.
Important Tips for
Financial Aid Recipients
If you are thinking of
withdrawing from all classes, stay enrolled in at least one class if
possible. Dropping all classes may require you to repay federal aid funds
you have already received.
If you must withdraw or
drop all classes, it is advisable to stay enrolled in at least one class
through November for the Fall 2007 semester and through April for the
Spring 2008 semester. You will have completed more than 60% of the
semester by this date and will have 'earned' all funds received.
Remember that you must
still meet the Satisfactory Academic Progress requirements for financial
aid even if you do not have to repay funds. Lack of academic progress by
not completing your classes may disqualify you for financial aid in the
future.
Click Here for Measures of
Satisfactory Academic Progress |
