A few days ago
Mary P

need to withdraw from college, will my financial aid be withdrawn as well?

I’m attending an online university and I can’t complete the classes because I’m having trouble with my pregnancy and taking care of my 1 year old. However, I need the refund money. How do I still keep it while withdrawing? I already have one loan partially disbursed but I need the second one too and my grant money is already disbursed. please help…!

Top 10 Answers
A few days ago
Tippy

Favorite Answer

I can’t answer the portion of your question concerning loans, as I have never dealt with this issue personally. As for the other half of it… you “earn” your federal grants, so for every day you remain enrolled in your classes, there will be less money to pay back should you eventually withdraw from all of your classes. In order to calculate how much would have to be repayed, multiply the total amount of your grant(s) [e.g. $2000] times the percentage of the term for which you were enrolled [e.g. 30 days out of 121 days would be 30/121 = 25%]. So $2000 x .25 = $500. In other words, you earned $500. Then you cut the difference [$1500] in half, and you are left with the amount you owe: $750.

If you remain enrolled for 60% or more of the academic term, you will not owe any grant money back to the federal government. However, you will probably be put on academic probation for not making satisfactory progress (i.e. passing a certain percentage of your classes). In order to continue recieving financial aid, you generally have to write a letter stating why you were unable to complete your classes and what you will do the following semester in order to make satisfactory progress. On the other hand, if you fail all of your classes in a single term, you would probably also be put on probation AND you will have “earned” only half of your financial aid.

Hope this helps! Good luck.

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A few days ago
DaeRae
It really does depend on a lot of factors that cannot be answered here. Your school will be required to calculate a refund of the money you have already received. But they may also calculate a refund of some of their charges. Nothing happens with your loan, you’ll just start paying it sooner. You likely won’t get any future disbursements. Only the financial aid department at your school can give you an accurate answer; it really is dependent on school specific factors.
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A few days ago
a_navarro_4
Unfortunately, you can’t. Government rules state that financial aid, both grants, and loans will have to be refunded. So, as soon as you drop below the status of “half-time student” you will become disqualified for government financial aid and your FAA will be sending back your funding. And you will have to repay the funding that has already been disbursed through your loan.
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A few days ago
Ed
Read the conditions on which you received the money. You will owe the money back, including the grant, and you won’t have an educating or job to fall back on. You are being paid for a service, attending school at a minimal grade level. Unless your MEDICAL reasons exempt you from service, or deffer the completion, you are hooped.

If you complete the course with the assistance of an aid, you are fulfilling your obligation.

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A few days ago
Anonymous
You will have to pay the money back if you withdraw form all of your classes.

Talk to financial aid. It may be possible to ‘keep’ the loan money you already have, but not the grant money and not the undisbursed loan.

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A few days ago
Anonymous
The day you sign out is the day your financial aide ends. You make have to repay even earlier as a penalty. Depends on your loans, check the fine print and call the companies.
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A few days ago
Anonymous
call your loan people and ask them. it really depends on what state or country you are in. Since this “answers” thing is so huge, its hard to give you advise b/c I don’t know where you are. I’m sorry you are having problems with your pregnacy. hang in there girl!
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A few days ago
Anonymous
depends on the requirements for keeping the financial aid, depending on what kind of gpa or hours you need…. you could stay in and fail if there are no requirements
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A few days ago
cj872006
u will have to repay the grant money…
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A few days ago
Crashovdr
yes. Please try your best to stay in school.
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