If a student is considered withdrawn from the University, federal regulations require a calculation be performed according to a specific formula that identifies the total scheduled financial assistance the student earned, and is therefore entitled to receive. If a student is considered withdrawn from the University before completing 60% of a payment period, the student may have to repay unearned Federal monies that were already disbursed at the beginning of the payment period. For additional information regarding this policy, please refer to the University catalog.
The University will process a deferment for a period of one term (a six-month period); however, the deferment period ends if/while the student is withdrawn. Also, if a student changes their schedule and is considered withdrawn after a deferment is processed, the lender will be notified and repayment on the loan will be initiated.
Students who receive a grade of “incomplete” have the remainder of the payment period to remove the “incomplete” with a passing grade. However, if this is the last course of the payment or loan period, no future aid will be disbursed until the “incomplete” grade has been removed or a replacement course is completed with a passing grade. In addition, students who receive two incomplete grades in the same payment period may not be eligible for future aid.