Belmont College

What Happens to Your Financial Aid When You Drop Classes or Withdraw?

Dropping classes or withdrawing may result in a reassessment of your charges and/or a recalculation of your financial aid for the term.

The consequences for each of these academic actions are different; therefore, each are addressed separately below.

Define Drop and Withdraw with respect to Financial Aid; they are not the same thing.

Drop a class

Dropping a class is done before the last day to drop and means the course you drop will not be counted in your hours enrolled to determine financial aid.

The last day to drop without record according to the college catalog:

  • Fall Semester 2012 August 30, 2013
  • Spring Semester 2013 January 20, 2014

Withdraw from a class

Withdrawing from a class happens after the last day to drop and ends on the last day to withdraw as posted in the college catalog.

The last day to withdraw according to the college catalog:

  • Fall Semester 2012 December 4, 2013
  • Spring Semester 2013 April 25, 2014

What happens when you drop from some but not all classes?

Financial aid awards and the budgets or costs of attendance that correspond with the financial aid awards are based on the assumption students will enroll full-time during each term. Even though some students may not be enrolled full-time at the start of any given term, there are multiple opportunities for students to add/drop/change classes early on in a term to eventually settle at full-time enrollment.

If by the semesters last day to add or drop, a student is not enrolled full-time (either having been initially, then dropping or having never been enrolled full-time), adjustments will be made not only to financial aid received for the term in question but also to the budget or cost of attendance that corresponds with the financial aid offered in any given term. If changes are required, a student’s Pell grant and/or loan amounts may be reduced to meet the cost of attendance.

Financial aid budgets and amounts are determined by the hours a student is enrolled.

  • Full-Time: 12 or more hours.
  • Three Quarter (¾) Time: 9 – 11.99 hours
  • Half-Time (½) Time is 6 – 8.99 hours
  • Less than Half-time (¼) is 1 – 5.99 hours

Note on Full-Time. Even though financial aid considers full-time as 12 hours we encourage you to follow your course outline in the catalog when registering for classes. This is usually 15 – 17 hours per semester to graduate on time.

SO… if you drop from 15 hours to 9 hours your aid will be reduced to match the ¾ time budget. If you drop from 11 hours to 7 hours, your aid will be reduced to match the ½ time budget and so on.

The Cost of Attendance-COA is the maximum amount of financial aid a student can receive per semester based on dependency status and hours enrolled. The dependency status is determined by completing the FAFSA where a student is either Dependent or Independent according to Federal Guidelines.

2012-2013 Budgets (Cost of Attendance COA) for Fall Semester (same for Spring)

  Full-Time per Semester Three Quarter time per Semester Half-Time per Semester
Dependent $4,370 $3,278 $2,185
Independent $6,270 $4,703 $3,135

Example. If you are awarded a Pell Grant and Stafford Loan based on being a dependent student full-time and your award was:

  • Pell Grant $2,775
  • Sub Loan $1,595
  • Total Fall Semester $4,370

Then before the last day to drop you drop to 10 hours enrolled your aid would change to:

  • Pell Grant $2,082
  • Sub Loan $1,196
  • Total Fall Semester $3,278

What happens when you drop all classes?

If you drop all your classes before the last day to drop without record that means you are not enrolled and will not receive any financial aid.

What happens when you withdraw from all classes?

A withdrawal from any class is an academic action that should occur only through a formal meeting with an academic advisor in your college office or through your MYBELMONT site. Whether done through the formal process or through you dropping a class via the web, a withdrawal from classes can result in the reassessment of your charges and the recalculation of your financial aid. Simply not going to class anymore is not a withdraw or drop. You must officially withdraw.

Financial Impact

To receive a refund of tuition and eligible fees the student must follow the withdrawal procedure prescribed by the College. Tuition and other eligible fees are refundable according to the following schedule:

Calendar Days Refund Percentage
Prior to the first day of class 100%
1-5 days from the 1st day of class 100%
6-14 days from the 1st day of class 50%
15 days and beyond No Refund

If you withdraw from classes your financial aid will be adjusted according to the Return to Title IV Process.  Belmont College uses the last day of attendance or the last day a student actually attended a class to determine how much if any aid a student is eligible for not the withdraw date.

Return of Title IV Process for Federal Aid

If you have federal Title IV aid (Pell grant, SEOG Grant, Direct Loans, etc) and you fail to attend at least 60% of a term, the Student Financial Aid Office must determine how much of your aid, if any, must be returned to the federal aid programs based on the percent of the term you attended.  The term length is defined as the first day of classes through the last day of classes.

The federal regulations regarding Return to Title IV specify the following regarding return of federal aid to the programs:

  • The order of repayment to programs is as follows:
    1. Federal Direct Unsubsidized Loans
    2. Federal Direct Subsidized Loans
    3. Federal Direct PLUS
    4. Federal Pell
    5. Federal Supplemental Educational Opportunity Grant (SEOG)

Once you officially withdraw from all your classes your last day of attendance is determined by the Financial Aid staff to complete the Return of Title IV process.  Using the amount of charges and aid received and amount of the term the student attended it is calculated how much if any of the aid the student is eligible to receive.  Funds not eligible are returned to the federal program and any balance is the responsibility of the student to pay immediately.  Students who do not pay their balance due to Belmont College will have a hold placed on their account and not be able to register for classes or receive a transcript until the balance is paid.  Students who are past due may also be sent to the Ohio Attorney General for collections and other fees may apply adding to your balance due.

What happens when you withdraw from some but not all classes?

Financial Impact

To receive a refund of tuition and eligible fees the student must follow the withdrawal procedure prescribed by the College.  Tuition and other eligible fees are refundable according to the following schedule:

Calendar Days Refund Percentage
Prior to the first day of class 100%
1-5 days from the 1st day of class 100%
6-14 days from the 1st day of class 50%
15 days and beyond No Refund

Financial Aid Award Impact

If a student withdraws from a class they have been attending after they have received their financial aid award no change will be made to their award.  Students must have been attending the course up to receiving aid and withdraw after receiving aid.  Some aid may be reduced such as loans if the withdraw occurs before receiving aid and this withdraw will make the student less than half time.  See the financial aid staff for more details before meeting with your academic advisor to withdraw.

First time students who are first time borrowers must wait 30 days to receive loan funds and must be attending class up to point of disbursement.

Single term loans will be divided between the term with half being paid at the beginning of the term and the other half being paid at the mid-point.

SAP (Satisfactory Academic Process) Withdrawing from your classes may have an effect on your future financial aid.  See SAP policy for more details.

Unofficial Withdrawals

If you simply stop attending classes, rather than officially withdrawing through your college office or dropping all of your classes online, you will be subject to the same financial aid consequences addressed above if you receive all F’s.  If you receive all F’s for non-attendance or for attending and failing all your classes the Financial Aid office will follow the Return to Title IV process to determine how much aid the student is eligible for based on last day of attendance.  If a student attends, receives the aid then just stops attending class and gets all F’s, we will follow the Return to Title IV process and may have to return all or a portion of financial aid received causing a balance due.

Questions?

If you are considering withdrawing and have any questions about the financial aid consequences, please contact the Financial Aid Office staff.

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Financial Aid Office Hours

Monday - Friday
8:00a.m. - 4:30p.m.
Saturday - Sunday
Closed

Contact Information

Financial Aid Office
Belmont College
120 Fox-Shannon Place
St. Clairsville, Ohio 43950

email: financialaid@belmontcollege.edu
Phone: 740.695.8510
Fax: 740.699.3033