How Withdrawing Effects Financial Aid
When a student who received federal Title IV financial aid withdraws from the university, the unearned portion of these awards must be returned to federal Title IV financial aid programs. Federal Title IV financial aid includes the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), the Federal Perkins loan, the Federal Stafford loan, and the Federal Parent Loan for Undergraduate Students (PLUS).
In order to determine the unearned portion of federal financial aid, first subtract the number of days remaining in the academic term after the withdrawal date (federal regulations define the withdrawal date as the date on which the student initiates the withdrawal process) from the total number of days in the academic term. The remainder is divided by the total number of days in the academic term. The resulting percentage is applied to the total of federal Title IV federal aid awarded to the student for the term in order to determine unearned Title IV aid.
The federal government has prescribed the order in which unearned aid is returned to federal Title IV programs. The responsibility for the return of unearned federal Title IV financial aid is shared by the student and the university.
Students and parents should note that the requirement
to return federal Title IV funds may result in a balance due to
Belmont University subsequent to withdrawal.