FATV Vieo: If I drop a course or withdraw, what will happen to my financial aid?
Change of Enrollment
Colleges must review payments of funds to students each enrollment period to determine if students have received an overpayment. If you receive a disbursement and then drop units, you may be subject to repayment of some or all of the funds you received.
It is your responsibility to drop your classes through the Admissions Office if you do not attend. Failure to drop classes may result in a financial aid overpayment, which may require repayment of the financial aid you received.
Example: You were enrolled in 12 units (full-time) at the beginning of the semester and received your first check for $1,000. You then drop 3 classes (9 units) and remain in 3 units (less than half-time). The full payment for less than half-time enrollment is $432. You are overpaid $568 and you must repay this amount before receiving any further financial aid.
If it is determined that you owe a repayment, and you do NOT repay the funds, a hold will be placed on your academic record, your debt will be reported to the U. S. Department of Education for collection, and you will not be eligible for further financial aid at any postsecondary institution until the debt is paid in full.
Students who receive federal financial aid and then withdraw from ALL classes may have to repay some of the federal funds they received.
RETURN TO TITLE IV (R2T4)
Students who receive federal financial aid and then withdraw from ALL approved classes at their financial aid processing school may have to repay some or all of the federal funds they received. This also applies to students enrolled at more than one campus.
A student’s eligibility for financial aid is based upon enrollment. The Higher Education Amendment of 1998 governs the Return to Title IV Funds Policy for a student who completely withdraws from a period of enrollment, i.e., semester, at the homeschool. A student who receives federal financial aid and then withdraws to less than one financial aid eligible unit is considered withdrawn for R2T4 purposes and may have to repay some or all of the federal funds received.
R2T4 rules indicate that during the initial 60% of the semester, a student “earns” aid in direct proportion to his/her enrollment. The percentage of time the student remains enrolled is the percentage of aid for that period of enrollment. A student who remains enrolled beyond the 60% point of the semester has earned all aid disbursed for the period. "Unearned" aid is the amount of federal financial aid disbursed that exceeds the amount the student has earned. Unearned aid other than Federal Work-Study may be subject to repayment.
If R2T4 calculations determine that a student owes a repayment, the student will be notified by email. The student has 45 calendar days from the date of the notification to repay. A hold will be placed on the student’s academic and financial aid records. The hold will prevent the student from receiving college services and will jeopardize future financial aid eligibility. Unpaid overpayments will be reported to the U.S. Department of Education for collection.
Students should contact the Financial Aid Office before withdrawing from all of their classes to understand the implications of their actions. For the refund policy on enrollment fees and non-resident tuition, please see the College Schedule of Classes or the College Catalog.
Again: Failure to repay these funds will result in the denial of future federal financial aid at all colleges. The college is also required to report grant overpayments to the National Student Loan Data System.