The Higher Education Amendments of 1998 Public Law 105-244 dictates the formula for calculating the amount of aid a student and school may retain when the student totally withdraws from all classes. The Title IV programs include: Federal Pell Grants, Direct Loans, Direct Plus Loans, and Federal Supplemental Educational Opportunity Grants (FSEOGs). The requirements for Title IV program funds when you withdraw are separate from any refund policy that the school may have. Therefore, you may still owe funds to the school to cover unpaid institutional charges. State Technical College of Missouri will charge the student for any Title IV program funds that State Tech was required to return.
A student who withdraws after the 60% point of a semester is entitled to retain all Title IV aid for that semester. However, if the student withdraws prior to the 60% point of the term, unearned Title IV funds, as determined by the federal policy, must be returned to the various programs. These funds must be returned even if the College provides no refund to the student. This means the student could owe the College and/or the U.S. Department of Education a significant amount of money. If the student is thinking about withdrawing from all classes PRIOR to completing 60% of the semester, he/she should contact Financial Aid to understand how withdrawing will affect financial aid.
LINE OF AUTHORITY
Responsible administrator or office: Student Affairs
Contact person in that office: Vice President of Student Affairs
Approved by President: January 2022