Drops and Withdrawals Affect Financial Aid

Are you a student receiving financial aid and considering dropping a class or completely withdrawing? Below are just a few things you should know before you withdraw.

1. Satisfactory Academic Progress (SAP)

All students are required to successfully complete a minimum credit hour and minimum GPA in order to receive financial aid funds each semester.  Failure to do this can endanger your ability to receiving financial aid for future semesters.

For more information about Satisfactory Academic Progress.

2. Financial Consequences

Return of Financial Aid Funds: You may be required to repay a portion of the aid your received causing you to owe a balance to the University.

Outstanding Student Account Balance: Monitor your student account balance before and after you withdraw.  You are responsible for any account balances. Outstanding balances can prevent you from registering, receiving an official transcript, plus much more.

3. Lifetime Limits

Several types of financial aid such as Federal Pell Grant and Direct Student Loans have limitations regarding the amount of funds you can receive in your lifetime.  Once they are used, you cannot get those funds back; therefore, the longer you delay, the more you pay for your education.

4. Student Loan Consequences

Students that are no longer enrolled at least half-time, will be required to begin repaying their student loans after their 6-month grace period has ended. In addition, Exit Loan Counseling will be required to be completed at www.studentloans.gov.  It is important that students always know their student loan history.  This information is always available at www.nslds.ed.gov for every loan at any institution attended.

Need more information?

Stay on track, keep your financial aid intact!