In the event a student withdraws, drops out, or is expelled from the University prior to the end of a semester of enrollment, the Financial Aid Office will determine if the student must return any Title IV funds, even if the funds have already been credited in full to the student’s account. It is the student’s responsibility to inform the Financial Aid Office if he or she is withdrawing for any reason from the University prior to the end of a semester.
A. Students who officially withdraw prior to completing 60% of the semester will have their financial aid prorated and any unearned funds returned. Students may owe funds to the Department of Education and/or Shepherd University.
- Return of Title IV aid will be completed upon notification of a student’s withdrawal from the University.
- The Registrar’s Office notifies the Financial Aid Office when a student has withdrawn from the University and the last date of attendance is entered into the University database.
B. The official last date of attendance for student who withdraw will be determined by the students’ instructor in conjunction with the Registrar’s Office.
- Student who officially withdraws will complete a form with the Registrar’s Office which must be signed by various University Offices including the Financial Aid Office.
- The Registrar’s Office initiates the withdrawal form and procedure for pre-registered non-returning students.
C. Upon official notification of a withdrawal by the Registrar’s Office in which classes are removed and a “W” is placed on the student’s record, the Financial Aid Office will calculate in accordance with federal guidelines the amount of aid that must be returned or disbursed to the student. The Financial Aid Office uses University software along with Federal calculation worksheets to calculate the earned and unearned funds per student.
- The Financial Aid Office will return any unearned portion of the grant and/or loan funds to the Department of Education. (This may cause a balance owed to the University which becomes the student’s responsibility).
- The student is informed by email of the required returns and the amount, if applicable, that is owed to the University.
- The University Business Office will send a statement of charges and billing information to the student after the withdrawal and removal of Title IV aid is complete.
- For Federal Stafford Loans, a letter and email with Exit Counseling instructions is sent to the withdrawn student and any future scheduled disbursements for the aid year are cancelled.
Federal regulations stipulate how the return of Title IV Funds is calculated for a student who has received financial assistance from any of the Federal Title IV programs. The return must be allocated in the following order and returned to the appropriate program(s):
- Unsubsidized Federal Stafford Loan
- Subsidized Federal Stafford Loan
- Federal Perkins Loan
- Federal PLUS Loan
- Federal Pell Grant
- Federal SEOG
- Other Title IV Aid Programs
Students who do not officially withdraw from the University, but receive all grades of “F” at the end of the term will be evaluated to determine their withdrawal status. The Registrar’s Office will contact the Professors in whose classes these students were enrolled to determine if the student earned the grade of “F” and the last date of attendance for that student. The Professor will complete a form or respond to the email with the determination of last date of attendance and the earned grade. If the student did not attend past the 60% mark in the semester, it will be deemed that the student has withdrawn.
Students in module programs who complete one module (Example Terms I and II) but withdraw from the second module, will be considered a Withdrawal and the calculations and processes described above will be followed. The Registrar’s Office will determine the last date of attendance in the second module by contacting the student’s professor. Once the date is determined, the information will be entered into the database and passed on to Financial Aid for calculation.