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When a student takes a leave of absence or withdraws from Drew University, federal and state regulations may require the University and/or the student to return a portion of the aid received as described below:

Refunds of Federal Aid

When a student takes a leave of absence or withdraws before completing 60% of the enrollment period, federal regulations require the University and/or the student to return that portion of federal aid funds which has not been earned. This is calculated as follows:

  1. The percentage of federal aid earned is calculated by dividing the number of days the enrollment period completed by the total number of days in the enrollment period.
  2. The amount of federal aid earned is calculated by multiplying the percentage of federal aid earned by the amount of federal aid that was disbursed plus the amount of federal aid that could have been disbursed.  (Please note that funds that have not met the requirements for disbursement will not be disbursed to the student.)
  3. The student is entitled to keep all earned federal aid which has been disbursed and is entitled to receive a post-withdrawal disbursement of all earned federal aid which could have been disbursed.
  4. All other federal aid will be returned or canceled.

Refunds of State Aid

When a student withdraws and receives a refund of institutional charges, state regulations require the return of a percentage of state aid received. This is calculated as follows:

  1. Determine the percentage of total that is state aid by dividing the amount of state aid (excluding work earnings) awarded by the total aid that is state aid by dividing the amount of state aid (excluding work earnings) awarded.
  2. Calculate the amount of state aid to be returned by multiplying the percentage of total aid that is state aid by the amount of institutional charges refunded.
  3. If a student utilizes any part of an award, it will be treated the same as a full semester payment in calculating the number of semesters of eligibility. Therefore the student may decline the state award and repay the award for the payment period.

TITLE IV CREDIT BALANCE INFORMATION

If/when Title IV Federal Funding is greater than institutional charges, a Title IV credit balance will occur in which the University is obligated to process a refund to the student for these excess funds. Students will be notified via email when this occurs. More information can be found on our Title IV FAQ Summary Sheet