Students who need to withdraw or take a leave of absence from the
College may do so for academic, discipline, personal, or medical
reasons. If you are receiving federal financial aid and withdraw
or take a leave of absence from the College, you may be subject to
the federal Return of Title IV Aid and state financial aid
NOTE: Students must notify Financial Aid about any change in planned
period of enrollment, whether due to withdrawal from a class, a
leave of absence, a change academic division, or withdrawal from
Students seeking to withdraw from the College for any reason should
contact the Registrars office to begin the withdrawal process.
Students should also consult with their financial aid counselor
prior to leaving to understand the implications this change in
status will have on their Offer of Financial Assistance.
Non-attendance does not constitute official withdrawal. If a student
who began attendance and did not officially withdraw fails to earn a
passing grade in at least one course over an entire term, the
college must assume that the student has unofficially withdrawn. For
this purpose, non-passing grades are defined as W, NE, *, IP, L,
or I. Unofficial withdrawals will be determined within 90 days of
the end of the term. Federal financial aid recipients will have
their awards reviewed and recalculated, causing a reduction in aid
Please remember that if you are not enrolled at least half-time for
more than six months, your student loans will go into repayment.
Federal Return to Title IV Aid Overview
The Financial Aid Office is required by federal statute to
recalculate federal financial aid eligibility for students who
withdraw, drop out, are dismissed, or take a leave of absence prior
to completing 60% of a term. From the start of each semester (Day) or
term (DAPS) up through the 60% point, a calculation is used to determine
the amount of Title IV funds the student has earned a the time of
withdrawal. After the 60% point of the semester/term, a student has
earned 100% of the Title IV funds he or she was scheduled to receive.
student's eligibility for the funds received from federal Title IV
financial aid programs must be recalculated in these situations.
Recalculation is based on the percentage of earned aid using the
following Federal Return of Title IV funds formula. For unofficial
withdrawals, the withdrawal date used for aid recalculation is the
midpoint of the term.
Percentage of the term completed = the number of days completed up to
the withdrawal date divided by the total days in the term. (Any
break of five days or more is not counted as part of the days in the
term.) This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
Aid to be returned = (aid awarded to student minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the term.
If a student earned less aid than was disbursed, the institution is
required to return a portion of the funds that have been received by
the student. Keep in mind that when Title IV funds are returned,
the student may owe a balance to the institution.
If a student earned more aid than was disbursed, the
institution would owe the student a Post-Withdrawal Disbursement (PWD)
which must be paid within 180 days of the date of withdrawal. The
student will be notified of the amount of a Post- Withdrawal
Disbursement by the Office of Financial Aid as well as information of
Loan Exit Counseling. This notification will be sent to the student via
their Fisher email address.
Refunds are allocated in the following order:
Unsubsidized Federal Direct Loans
Subsidized Federal Direct Loans
Federal Perkins Loans
Federal Parent (PLUS) Loans
Federal Pell Grants
Federal SEOG Grants