If a financial aid recipient withdraws during a term, the Financial Aid Office must calculate the amount of Title IV aid the student did not earn. Unearned funds must be returned to the Title IV Programs.
The basic formula is:
Percent of enrollment Aid that disbursed
period completed based on X or could have = Earned Aid
withdrawal date disbursed
Aid that disbursed
or could have disbursed - Earned aid = Unearned aid
The school must return:
Amount of The percent of aid
institution charges X that was unearned
Student must repay:
The amount of unearned Title IV - The amount of unearned Title IV aid
aid to be returned due from the school
If the repayment of funds affects grant dollars received, the student's repayment of these funds will be reduced by 50 percent.
Students will repay loan funds based on repayment terms of the promissory note. Repayment of grant funds in full can be arranged with the school or a payment plan may be arranged with the Department of Education.
If a student withdraws the first term, but plans to return spring term, he/she must submit WRITTEN notification to the Financial Aid Office so that aid may be reinstated and/or revised. If a student fails to notify the Financial Aid Office, the aid will remain cancelled.
Registrar's Office - UW-Whitewater|
For comments: email@example.com.
Last revised on May 20, 2002 by MAR