If your invoice is paid using financial aid, and it is necessary to officially withdraw from all classes, please see the "Refund/Repayment Policy" below.
If you withdraw from some but not all of your courses, your aid could be affected as follows:
The first and most important thing to consider before dropping classes is how it will affect you academically. You should meet with your advisor to consider all implications of dropping a course.
If you are receiving financial aid, you will be reviewed for Satisfactory Academic Progress. If you drop below half time, you can no longer work as a Federal Work-Study student. In addition, you maybe subject to the Refund/Repayment Policy.
Scholarships have credit hour requirements. If you drop below the required hours, the refund is repaid to the scholarship.
Federal Pell Grant
The Pell Grant will be adjusted for any change in enrollment that occurs on or prior to the 15th day of the semester. Pell will also be adjusted for any class withdrawn from that has not yet begun. Withdrawing from classed may keep you from academically progressing, which could make you ineligible for an additional Pell award in the spring.
Ohio College Opportunity Grant (OCOG)
OCOG will be adjusted for any change in enrollment that occurs on or prior to the 15th day of the semester. If credit hours are reduced after the 15th, day and the university is in a refund period, the grant will be pro-rated.
Additional Loan Concerns
Dropping classes may have an impact on your student loans! Student loans, including Federal Perkins Loan, Nursing Student Loan, Direct Subsidized Stafford Loan and Direct Unsubsidized Stafford Loan, will stay in deferment status as long you continue to attend school at least half time. If you drop below half time for longer than six months (Stafford) or nine months (Perkins and Nursing), these loans will go into repayment. In addition, student loans currently being disbursed may be cancelled and returned to the lender, if you drop below half time. For example, if your loan is for two semesters, the second semester portion may be cancelled, reduced or returned.
This refund policy is used to determine the amount of federal student aid that must be returned (refunded) to the appropriate aid programs and should not be confused with the published University refund policy.
When a student withdraws from all classes prior to completing 60 percent of the period/semester for which federal aid was provided, the following refund policy will apply.
A student earns their federal aid on a pro-rated basis, and is not considered to have earned 100% until they attend past the 60% point of the period/semester.
The refund/repayment policy is a pro-ration of earned versus unearned financial aid. The earned financial aid percentage is determined by dividing the days attended in the period by the total days in the period (i.e., student withdraws on the 5th day of the semester which has 110 days in its period, 5/110 = 5 percent earned). Subtracting earned aid from aid what was awarded and disbursed gives you the amount of unearned aid that must be returned. The responsibility to repay unearned aid is shared by the institution and the student in proportion to the aid each is assumed to possess. The student may be billed from The University of Akron for any account balance created when the college is required to return funds. The balance due would be the result of tuition charges that are no longer being covered by the unearned aid or unearned aid that the student received in an excess aid check.
Under the refund/repayment policy, the programs are reimbursed in the following order:
State aid will be refunded based on the published University refund policy.
Withdrawal dates are determined in one of the following ways, depending on the situation:
Once the student has attended past 60 percent of the period/semester, all financial assistance is considered earned, although successful completion of coursework is required to maintain satisfactory academic progress.
See the Financial Aid Calendar for the 60 percent dates for each semester.
|The University of Akron
Office of Student Financial Aid
Akron, OH 44325-6211
|In person:||Simmons Hall Lobby|