Financial Aid Withdrawal Policy | CBU

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Financial Aid Withdrawal Policy

Students who withdraw from CBU or drop all courses during a semester

If you are considering dropping from or withdrawing from all your classes during a semester it is important that you are aware of the university's tuition adjustment policies. This decision will likely impact your eligibility for financial aid that has been awarded and disbursed to your account in the Business Office. It will also likely impact your eligibility for financial aid in future semesters  

The federal government, through laws passed by Congress and regulations issued by the United States Department of Education, determines how much financial aid students may retain when they withdraw from all their classes in a semester.

A calculation, using a formula provided by the federal government, must be performed for students who receive Title IV financial assistance (Pell, FSEOG, and Direct Loans) and officially withdraw from all courses, drop all courses, are expelled, take an unapproved leave of absence, or fail to return from an approved leave of absence prior to the 60 percent date of the semester. All unearned aid must be returned to the federal aid programs as determined by the formula.

In order to keep all the financial aid issued in each semester, students must remain enrolled for at least 60 percent of the semester. After this point the student has earned 100 percent of the Title IV funds released for the semester. It is in your best interest to maintain attendance and complete at least one class each semester that you receive federal aid to avoid repayment of funds. (Different requirements apply to maintain satisfactory academic progress.)

The Return to Title IV calculation determines how much of the federal financial aid a student received for the semester was actually “earned” and how much must be repaid. The amount of financial aid earned is based on the student’s date of withdrawal from all classes.

How the calculation works:
  1. Number of days attended ÷ Days in semester = percent of semester completed 
  2. Total $ disbursed X percent completed = Earned $
  3. Total $ disbursed - Earned $ = $ to be returned

Students who drop courses but still are enrolled
Each federal, state and institutional financial aid program has requirements for enrollment. The Office of Financial Aid monitors your enrollment throughout the semester.

Adjustments to financial aid awarded for the semester will be done to reflect the number of credit hours for which a student is enrolled as of Census Day.   

Students who drop classes during late registration and through the close of business on Census Day, may need to return any financial aid disbursed based on their original financial aid award.

Students who fail all courses
If you fail to earn a passing grade in all courses attempted for the semester the Office of Financial Aid is required to determine if you actually attended your classes and failed to meet course objectives, or if by ceasing to attend your courses, you unofficially withdrew from the university. In this situation the Office of Financial Aid will request the last date of academically related activity from your instructors for the semester and use the latest date provided as you last date of attendance.  If no dates can be provided by your instructors, the Office of Financial Aid is required to use the 50 percent point of the semester as your last date of attendance in the Return to Title IV calculation.

Other information regarding withdrawing from classes

These regulations are not the same as the university's refund schedule which is found on the Business Office Withdrawal Policy website.