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Withdrawal || Oakwood University

Withdrawal

How Does Withdrawal Affect My Financial Aid?

Withdrawal from Oakwood University

Section Contents

  • Official Withdrawal
  • Unofficial Withdrawal (Dropping Out)
  • Non-Attendance Letter
  • Return of Title IV Formula
  • Title IV Funds
  • Non-Title IV Aid
  • 60% Date
  • Point of Contact to Initiate Withdrawal

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.


Official Withdrawal

  • Depending upon the date of withdrawal, one of the following situations will apply:

    • If the semester has not yet begun, and you cancel your registration, no financial aid will transmit to your account. You should receive no bill for that term/semester. However, failure to cancel your registration and failure to attend classes could result in the cancellation of your financial aid and you could be responsible for 100% of all charges.
    • If you officially process a withdrawal from the University after classes begin, but before the end of the first week of classes (five calendar days from the term's class begin date), you will receive a refund of all charges for that term/semester with the exception of the Registration Fee which is non-refundable; LEAP and D2L policies may differ.
    • If you officially process a withdrawal from the University after the first week of classes (after five calendar days from the term's class begin date), but before the Census (the day after the last day to drop without receiving a W), no financial aid will transmit to your account. You will be billed for $100 Assessment Fee and receive 100% tuition refund for that term/semester.
    • If you officially process a withdrawal from the University after Census (the day after the last day to drop without receiving a W) but before the 60% point of the term/semester has lapsed, University scholarships (Oakwood Campus) will be removed from your account for the term/semester; check with the source of the scholarship or any Non-Title IV Aid for more information (admissions, UNCF, foundation, and departmental). The financial aid office will recalculate your Title IV Aid based on the Federal Return of Title IV Formula. You will be responsible for any balance.
    • If you officially process a withdrawal from the University after the 60% point of the term/semester, you will not be required to return any Title IV Aid you received for the term/semester. However, University scholarships (Oakwood Campus) will be removed from your account; check with the source of the scholarship or any Non-Title IV Aid for more information. You will be responsible for any balance.

 

  • Stafford Loans for future semesters or terms within the same academic year will be cancelled by the lender when we notify them of the withdrawal.
  • Courses attempted prior to withdrawal from the University will count in the calculation of Satisfactory Academic Progress. Satisfactory Progress is calculated annually and is checked when you reapply for financial aid. You could be denied future aid if you do not meet our Standards of Academic Progress.
  • If you have an outstanding balance on a Perkins or Federal Direct Loan the date you drop to less than half-time is the date used for the start of your grace period; you will go into repayment as soon as six months after that date. You agreed at the time of your loan to let your lender know when you drop to less than half-time.
  • If you withdraw or drop to less than half-time, you must complete Exit Counseling External link for your Federal Direct student loan which will go into repayment six months after you are less than half time. You agreed when you signed your MPN to contact your lender if you drop to less than half-time.

 

Unofficial Withdrawal (Dropping Out)

  • If you stop attending classes and do not initiate an official withdrawal, it is unlikely that you will receive passing grades for the semester and will incur significant financial penalties, including full or partial cancellation of the financial aid you received for the semester. Because of this, it is CRITICAL that you initiate an official withdrawal prior to the end of the semester and that you keep your mailing address current.
  • Direct Loans for future semesters or terms within the same academic year will be cancelled by the lender when we notify them of the withdrawal.
  • Courses attempted prior to withdrawal from the University will count in the calculation of Satisfactory Academic Progress. Satisfactory Progress is calculated annually and is checked when you reapply for financial aid. You could be denied future aid if you do not meet our Standards of Academic Progress.
  • If you have an outstanding balance on a Perkins or Direct Loan the date you drop to less than half-time is the date used for the start of your grace period; you will go into repayment as soon as six months after that date and agreed at the time of your loan to let your lender know when you drop to less than half-time.
  • If you withdraw or drop to less than half-time, you must complete Exit Counseling External link for your Direct student loan which will go into repayment six months after you are less than half time.
  • You agreed when you signed your MPN to contact your lender if you drop to less than half-time.

 

Non-Attendance Email

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:

  • Federal Pell Grants
  • Federal Supplemental Educational Opportunity Grants
  • State Grants
  • Federal Direct Loans
  • Federal PLUS Loan
  • Federal Work-Study

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:

  • Admissions Scholarships
  • Departmental Scholarships
  • Foundation Scholarships
  • Other Institutional Scholarships

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.


60% Date

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:

  • Oakwood Campus

Office of Registrar
First Floor Cunningham Hall
7000 Adventist Blvd NW
Huntsville, AL 35896
256-726-7353