/Institutions/Laboure-College/json/2018-2019/Catalog-and-Student-Handbook-local.json

/Institutions/Laboure-College/json/2018-2019/Catalog-and-Student-Handbook.json

Catalog and Student Handbook 2018-2019 > Financial Aid Information > Withdrawals and Financial Aid

Withdrawals and Financial Aid

Students who receive Federal or Title IV financial aid are subject to the Return of Title IV Funds regulations. Students who withdraw may keep earned aid. Unearned aid has to be returned to the appropriate aid programs. Earned aid is determined by the percentage of the semester that the student completed before withdrawing. For example, if a student completed only 30% of the semester, then the student may keep only 30% of aid. The remaining unearned aid would have to be returned to the appropriate aid programs. Students who complete 60% of the semester are eligible to keep their aid for that semester. Students who had aid disbursed to them for living expenses may be required to repay funds to the US Department of Education. For more information, please visit http://cdn2.hubspot.net/hubfs/1686215/R2T4_Policy.pdf?t=1498157214723

All students should be aware of the following:

• If a promissory note for any of the loan programs that the College offers has not been submitted before the withdrawal date, the loan(s) will automatically be cancelled in full;
• If an entrance interview has not been completed before the withdrawal date, the loan(s) will automatically be cancelled in full; and
• New students who are first-time borrowers who withdraw during the first thirty days of the semester are not eligible to receive subsidized or unsubsidized loans.

Massachusetts financial aid is returned in accordance with Commonwealth of Massachusetts regulations. Students who have questions about how withdrawing will affect their financial aid are encouraged to contact the Office of Financial Aid. Students may also contact Office of Financial Aid to learn about some examples of Return of Title IV Funds.