As before, the same 60-day percentage schedule would apply in determining financial aid eligibility. The Bursar s Office, however, would determine the amount of credit to the billing statement that would be applied against housing and board charges. So while there may be an adjustment in financial aid eligibility, a different credit adjustment to the billing statement may be made by the Bursar s Office. In the first instance, which affects, perhaps 30 students per semester, the student is completely withdrawing from the College. In this latter situation, the federal government no longer considers the person as principally attending college.
College is more tangential to the person s way of life.
Therefore, eligibility for aid is calculated similar to as if the student had withdrawn from the College. There are fewer than five students that are impacted this way each semester. The financial aid consequences for dropping to five hours or fewer can be great particularly if the student didn t receive loan approval prior to dropping credit hours. Now, let s look at an example. He decides to drop all of his courses on the 23 rd day of the semester.