Refund Allocation Policy for Federal Financial Aid Funds
Direct Deposit electronic refunds – to set up direct deposit refund preference, go to www.refundselection.com
Official Withdrawal—Withdrawing from all courses is considered withdrawing from the University. If you do this before 60% of the semester is completed (approximately 8–9 weeks into the semester), your financial aid award will be recalculated according to the percentage of the semester you have completed. If awarded Title IV (federal) or state aid and you withdraw before completing 60% of the semester, some portion of financial aid must be returned. The formula determines what portion of the aid must be returned and the list below indicates the order in which the aid is returned.
Refunds to Federal Title IV programs are made in this order:
- Federal Unsubsidized Stafford Loan
- Federal Graduate Plus Loan
- Other federal sources of aid
- Other state, private, or institutional aid
- The student
Refund examples are available in the Student Financial Assistance Office. It is important to discuss withdrawal and refund as it pertains to the individual student and its implications for federal student loan repayment and future eligibility for financial assistance.
| (Days enrolled) – (Official breaks of five days or longer) |
| Total number of class days in the semester |