Financial policy for withdrawal 2012-13
Students demonstrate their intent to withdraw from a course by completing the electronic withdrawal form available in MySCAD. The withdrawal form is processed automatically and is effective immediately upon receipt of the request by the registrar's office. The date the registrar receives notice is the official date of withdrawal for calculation of any financial refund. Students who do not withdraw according to the withdrawal policy are responsible for all charges incurred.
Students who partially withdraw (drop one or more classes but remain enrolled in at least one course for that quarter) before the end of the drop/add period will have financial aid (as applicable) adjusted based on the change in enrollment. See policies on cancelled enrollment and account credits at scad.edu/studentaccounts for details on tuition adjustments. After the end of the drop/add period, no adjustments are made for partial withdrawal.
Students who completely withdraw from the university are subject to a recalculation to determine eligibility. This calculation is used to determine the percentage of financial aid (if applicable) earned by the student. Unearned financial aid is returned to the funding program(s) according to federal and state regulations. This process takes place as soon as possible and not later than 45 days after withdrawal date. Students who withdraw after completing 60 percent of the quarter are not subject to recalculation and are considered to have earned all financial aid (as applicable).
Calculation for federal, state and outside funds
- To determine the amount of federal financial aid that is considered earned, a calculation is performed based on Department of Education guidelines. The calculation used is the number of calendar days the student attended divided by the number of calendar days in the term (calendar days completed/total calendar days in the term = percent earned). After the calculation is completed the unearned portion must be returned to the appropriate program(s).
- State aid is reviewed and aid is returned according to state program regulations. Additional information is located at GAcollege411.org.
- Other outside financial aid resources are reviewed and handled on a case-by-case basis following any special handling requirements of the funding entity.
- Summer term financial aid eligibility is determined by enrollment in all sessions (10 week and either 5-week). Students enrolled for the second 5 week session who drop their course(s) in the first 5-week session will be treated as a withdrawn student, and subject to the withdrawal calculation, unless they provide a written statement to student financial services indicating their intention to attend courses in the second 5- week session.
- After the calculation is completed the appropriate adjustments (if any) are made to the student's financial aid awards and student account. Funds are returned in the following order: Stafford, PLUS, PELL, SEOG, HOPE, GTEG, and outside resource funding (as applicable).
- Once adjustments are made and funds are returned to the appropriate programs, a letter is sent notifying the student of changes to financial aid and an updated billing statement is sent notifying the student of changes made to the student account.
- If the student received a refund prior to withdrawing, the student may have to repay some or all of the disbursement, depending on outcome of the calculation.
- If a balance owed remains on the student account it is due immediately.
- If a credit balance remains, the balance is first applied toward any outstanding charges; if excess remains thereafter, that amount is refunded to the student.
- Loan exit counseling packets are initiated and mailed within 30 days, as required by law, to students who totally withdraw, graduate, do not return, or drop below halftime enrollment.
- The last date of attendance is reported to the National Student Loan Data System (NSLDS) by the Registrar utilizing the National Student Clearing House. This serves as notification to lender(s) of the student withdrawal.