FINANCIAL AID

Withdrawal Policy

 

Fall 2009                                           August 12, 2009 – December 09, 2009

Withdraw =Pay Back!!

 

Sometimes, things happen that may prevent a student from completing a semester after classes start. It is our hope at Delgado Community College that you enjoy a full growth experience during the approaching school year. In light of the possibility that an emergency may prevent you from completing your intended studies, you need to be aware of the financial impact a withdrawal from Delgado can cause.
 
The Title IV financial aid you received from the federal government---
Pell, ACG, or SEOG Grants, Subsidized Stafford Loan, Unsubsidized Stafford Loan, Or a Parent Plus Loan---is for your use while you are a student. If you receive federal student aid from any of the above programs, and you withdraw from school, some of that money might have to be given back to the source by you or by Delgado Community College. Even if you don’t finish your course work, you’ll have to repay the loan funds you received, minus any student loan funds your school has returned to your lender. This process is referred to as the Return OF Title IV.
 
Basically, the Return of Title IV Aid works like this: If you withdraw or stop attending classes before the 60% point of a semester,  you will have to repay a portion of the aid you received, if it was not earned. Therefore, if you completely withdraw after 30% of the semester has passed, you will owe 70% of the original tuition charges back to the government immediately. This payment can be made to the Bursar’s Office within 45 days of notification from the financial aid office.
 
Here’s an example: Classes started on August 18, and you were awarded the following financial aid: $945 Pell Grant, and $1313 Stafford Loan. The total aid received is $2258. If your tuition and fees were $500, the remaining $1758 is monies you received directly for other educational expenses. The chart below shows your payback would be due from Pell Grant funds based upon the withdrawal dates.
 

Date of Withdrawal
% of Term Completed
Total Payback Due
September 08,  2009
14
314
September 22, 2009
26
213
September 29, 2009
39
149
 October 06, 2009
49
32
October 20, 2009
60
$0

 
*Loans are repaid to lender according to the terms of the signed master promissory note.
 
The decision to withdraw from the college is often difficult; however, it is important you understand all your options before completely withdrawing. Therefore, you are encouraged to consult with your academic and financial aid advisors before making this decision.
 
Satisfactory Academic Progress Policy

 

 

 

A grade of “W” will not be used in calculating a student’s grade point average. However, it will be considered in determining if a student has maintained satisfactory academic progress based upon attempted and earned hours.