Withdrawal Policy


 

 

 

 

                                                         Fall 2013/Spring 2014             August 17, 2013- May 5,2014

                                                                                             

 
 
 
 
 

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 could 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 for the Fall and Spring Semester: Classes started on August 17 for the Fall semester, and you were awarded the following financial aid: $2775 Pell Grant, and $1750 Stafford Loan. The total aid received is $4525. If your tuition and fees were $1500, the remaining $3025 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 11, 2013 

22

$1170

 September  25, 2013  

34

$990

  October 3, 2013

40

$900

  October 15, 2013

50

$750

 October 26, 2013

60

$600

 

 

 

 

 

 

                   

                             The following chart is an example for the Spring semester: 

 

Date of Withdrawal

% of Term Completed

Total Payback Due

February 12, 2014

22

$1170

February  26, 2014

34

$990

 March 5, 2014

40

$900

 March 17, 2014

50

$750

March 29, 2014

60

$600

 

 

 

 

 

 

 

 

 

 

 

*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. If the decision is made to withdraw from school please visit www.studentloans.gov and complete EXIT COUNSELING.

 

 

Note:  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.