How Does Withdrawal Affect My Financial Aid?
Withdrawal from Oakwood University Section Contents
Circumstances may necessitate withdrawal from Oakwood University for a semester or term in which you are already registered. Withdrawal impacts your financial aid differently depending on when the withdrawal is initiated and the type of financial aid you received. However, in all cases, your financial aid must be recalculated.
Unofficial Withdrawal (Dropping Out)
After the Census date (the day after the last day to drop without receiving a W) your professor is required to report whether you have attended. If you are not reported as attending, the financial aid office will recalculate your financial aid based upon the confirmed credit hours. After we have changed your aid, we will notify you by email.
Return of Title IV Formula
Title IV Financial Aid is recalculated based on the number of days attended, the total federal aid, and total institutional charges. The percentage of unearned aid to be returned is equal to the number of days remaining in the semester/term divided by the number of calendar days in the semester/term. If you initiate an official complete withdrawal after the 60% point in the semester, you will have earned 100% of the aid you received for that semester/term. The date of withdrawal is counted as a completed day. Scheduled breaks of more than 4 consecutive days within a semester are excluded. If a return of Title IV aid is required, Oakwood University will return the unearned portion of Title IV financial aid funds to the federal programs on behalf of the student. Any return of financial aid funds made by the University on behalf of the student will be charged to the student's University account. Payment for these charges is due on demand. Please pay Oakwood University directly for these charges; not the U.S. Department of Education. If you are one of the few students who are eligible for a post-withdrawal disbursement, you will be sent a letter of notification of your eligibility, which must be returned within 14 days from the date of the notice, or the offer will be rescinded.
Title IV Funds
Funds governed under Title IV of the Higher Education Act. Title IV Funds include:
For purposes of complete withdrawal and the Return of Title IV Formula, Federal Work-Study is not considered. However, in ALL complete withdrawal cases, you cannot continue to work under the Federal Work-Study Program after your date of withdrawal.
Non-Title IV Aid
Financial aid that is not governed under Title IV of the Higher Education Act includes:
Please Note: Although scholarships are non-Title IV aid, the impact to this type of assistance when a student completely withdraws from the University varies depending on the type of scholarship. Contact the source of the scholarship if you are completely withdrawing and want to know the impact this will have on your scholarship(s) both for the specific term and for future terms.
If you are awarded on LEAP terms, we will use a Term 60% date in the Return to Title IV withdrawal calculation; if you are awarded on semesters, we will use a Semester 60% date for the calculation.
The financial aid office will complete one official calculation when the official withdrawal form or information is received; mock calculations are not made.
Point of Contact to Initiate Withdrawal
Each campus has a point of contact to initiate Official Withdrawal:
Office of Registrar First Floor Cunningham Hall 7000 Adventist Blvd NW Huntsville, AL 35896 256-726-7353