If you are considering withdrawal from UNT, please contact a Financial Aid counselor and your Academic Advisor so your decision will be based on a clear understanding of the consequences of withdrawing from all classes.
If you drop classes or withdraw from the semester, you may be required to return all or a portion of the financial aid that you accepted. This situation could result in you owing funds to UNT, the government, or both.
When you withdraw from a class, your school’s financial aid office is required to recalculate your financial aid offer. If your withdrawal means you are no longer a full-time student, you may only receive a percentage of your initial financial aid offer. If your aid has already been disbursed, you may need to pay back some of the aid you received.
When you drop a course, it carries financial consequences. If you must leave a course, devise a plan and work with your school to make the transition as smooth as possible.
If you drop below half-time status, you may no longer be eligible for certain financial aid awards, like the Pell Grant.
Are you concerned that withdrawing from a class will affect your financial aid? It’s a valid concern since reducing your course load for an academic period can have a negative impact on your financial aid.
What happens to my financial aid if I withdraw from school? When you withdraw from school, it triggers a series of events that can affect your student aid and long-term eligibility for additional aid. Here are a few things to keep in mind before you leave school abruptly.
What To Do If You Need To Withdraw. You are responsible for contacting officials at your school before leaving. That way, the school can record the withdrawal date and use it to calculate the total amount of financial aid used for your last semester. You might be able to keep the funds if you used less than the school received.
According to the Federal Student Aid Handbook, when a course is below 60 percent completion, the costs of that course are prorated. That means when you stay for more than 60 percent of a semester’s duration, you earn 100 percent of federal funds awarded to you.
For example, the state where you went to school might take away a semester of eligibility for some forms of state aid if you didn’t finish your last semester.
Students who withdraw after the fifth day of the semester/term but prior to the end of the fourth week of the semester (or for Summer sessions by the first twenty-five percent [25%] of the term) are eligible for a twenty-five percent (25%) refund of tuition and fees.
Refunds requested during the fiscal year close-out, during the last two weeks of June, will not be processed until the first week of July. The refund will be processed as a credit to the student’s FSUCard account for currently enrolled students, unless the student requests a check to be mailed to the address on file.
Tuition Refund Processing Time. Refunds requested for tuition fees are generally made within four weeks of application. At the beginning of a semester, refunds will not be processed until the end of the third week of class to ensure that all checks have cleared the bank.
Some schools even impose penalties. If your financial aid has post-withdrawal disbursement, this means you do not receive money for your tuition and education needs until after the add/drop deadline has passed, which helps many students avoid financial punishment like having to repay grants or scholarships.
Have a valid Social Security number, with some U.S. territorial exceptions. Be registered with the Selective Service, if male. Be enrolled or accepted for enrollment as a regular student at an accredited program.
Telling your college’s financial aid office and your student loan servicers that you are dropping out gives you the best chance at managing loan repayment and stopping other sources of funding so you can repay them without being penalized.
If you enroll only half time, the amount you receive will be prorated. If you drop below what your school considers half time, your Pell Grant award is canceled. If you receive some Pell Grant funding but drop courses after the add/drop date, you will be required to pay the money back.
If you simply disappear, you will be subject to serious penalties, including exclusion from other aid programs and harm to your credit score. If you remain in contact with those managing your education costs, they will work with you so you can repay your loans, grants, and scholarships.
Too often, students quit school to take care of personal matters, including dependants, serious illness, or financial struggles. Schools are understanding of these problems and will work with you to formalize leaving. This allows you to return to school in good standing at a later date, and you can reapply for some financial aid then using the FAFSA.
If you fail to meet these qualifications, you will lose your scholarship. Based on enrollment, you may simply not receive that scholarship as you enter the new academic year. You will also lose your financial aid ...