Withdrawal Policy


 

Fall 2014/Spring 2015                                                                                               August 16, 2014- May 5, 2015

 

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 receive 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 received 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 16 for the Fall semester, and you were awarded the following financial aid: $2865 Pell Grant, and $1750 Stafford Loan. The total aid received is $4615. If your tuition and fees were $1500, the remaining $3115 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 Estimated

September 09, 2014

22

$1170

September 23, 2014

34

$990

October 01, 2014

40

$900

October 14, 2014

52

$750

October 23, 2014

60

$600

The following chart is an example for the Spring semester:

Date of Withdrawal

% of Term Completed

Total Payback Due Estimated

February 11, 2015

22

$1170

February 25, 2015

34

$990

March 04, 2015

40

$900

March 16, 2015

50

$750

March 28, 2015

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.