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Important information for students receiving any of the following types of
aid:
- Pell Grant
- ACG Grant
- SMART Grant
- SEOG Grant
- SLEAP Grant
- Perkins Loan
- Direct Loan (subsidized or unsubsidized)
- Work-study award
Please read the following information carefully before you decide to withdraw
from your classes. Also read the Satisfactory Academic
Progress policy before deciding whether to withdraw. Pay particular attention to
the credit completion and term completion portions of that policy.
Refund policy: In general,
students receive no refund of fees if they withdraw
from BSU after the 10th day of classroom instruction.
If you withdraw before the first
day of classes,
you are not eligible for any of your federal aid.
1.
Fees will be cancelled.
2.
Loan
and Grant funds used to pay your student fees will be
removed from your student account and returned to the government.
3.
Loan and Grant
funds released to you must be repaid to Boise State University
within 14 days of your withdrawal date. Failure to repay these funds
within that time period will result in the following: Grants - a
balance will appear on your student account at BSU. Loans will be
referred to the Direct Loan Servicer for immediate collection and you will
be placed into national default on your student loans.
If you withdraw on the first day of class through the 10th day
of class, we will assume that you have never attended classes and you
will not be eligible for any of your federal aid.
1.
Fees will be cancelled.
2.
Account will reflect a $25 withdrawal fee.
3.
Loan
and grant funds used to pay your student fees will be
removed from your student account and returned to the government, as
prescribed by federal financial aid rules (fees are first returned toward
loans, then grants).
4.
Loan and Grant
funds released to you must be repaid to Boise State University
within 14 days of your withdrawal date. Failure to repay these funds
within that time period will result in the following: Grants - a
balance will appear on your student account at BSU. Loans will be
referred to the Direct Loan Servicer for immediate collection and you will
be placed into national default on your student loans.
If a student has
attended class, within 10 days of being informed of a withdrawal, students
will have to furnish the financial aid office with written confirmation
from their professors that they did attend class. In this case, a student
may be eligible for some of the financial aid issued to him/her.
If you withdraw on the 11th day of the term, up to the 60%
portion of the semester*, you
1.
Are charged the full amount of your fees.
2.
Are responsible for paying a $25 withdrawal fee.
3.
Are eligible to keep some of the aid used to pay your fees. The
part you are not eligible to keep will be returned to the government. The
amount returned is based on the number of days from the start of classes
until you withdraw i.e. the percentage of the semester you spent in class.
4.
Must pay BSU for the
amount of money returned to the government
since all students are charged full fees if they withdraw after the 10th
day of the term.
5.
Might also be required
to repay some of your grant funds
(if you received that type of funding in the form of a balance check or
direct deposit).
Once you
officially withdraw, the Financial Aid Office will determine what you owe
and will notify you of the amounts you will be required to repay. In order
to determine these amounts, you must have withdrawn – no calculation will
be performed prior to your withdrawal.
* Note that the last day you
may completely withdraw from BSU for the Fall or Spring semester
without going through an appeal process is prior to the 60% date of
the semester.
THE FIGURES BELOW ARE PROVIDED AS AN EXAMPLE
ONLY. Your actual calculation is dependent upon the term from
which you withdraw, the aid you received, the date of your withdrawal, and
a variety of other factors.
The withdrawal date is used in the calculation to determine whether or
not you retain eligibility for any portion of the aid that was advanced to
you for the semester. Any aid you received above that which you are
determined to be eligible is considered to be "unearned" and must be
returned.
The withdrawal date is also used to determine whether or not a credit
of any fees is available for the remainder of the semester. If a credit of
fees is available, the amount will first be applied toward the
reimbursement of the aid programs from which monies were advanced for aid
which you did not "earn" during the period you were in attendance.
EXAMPLE:
For Fall, you received a Pell Grant of $800 and a Subsidized Direct
Loan of $2,709 (the net amount of the loan). You withdrew on September 18,
the 16th day of the semester.
Based on this information, a calculation is performed which determines
that $755 of the subsidized Direct Loan which was initially applied as a
credit to your Student Account is now "unearned". Federal regulations
require us to return this amount to the Direct Loan Servicer, which will
reduce your subsidized Direct Loan obligation. Since your withdrawal date
is beyond Boise State's refund period, no offsetting credit of fees is
available and you will be responsible for reimbursing this amount to Boise
State.
By withdrawing, you are no longer eligible for $63 of the Pell Grant
money you received in either a balance check or direct deposit at the
beginning of the semester. You must repay this amount to Boise State,
which we will return to the Federal Pell Grant fund. You also owe a $25.00
withdrawal fee, making the total amount owed to Boise State University on
your Student Account $843.
You may make payment arrangements with Boise State for the $755 and
$25; however, federal regulations require special handling of Pell Grant
repayments. You may pay the $63 you owe for the Pell Grant within 45 days
or sign a Repayment Agreement with the Boise State University Financial
Aid office. If you fail to pay the $63 or sign an agreement, the $63 will
be referred to the U.S. Department of Education for collection.
Updated 2/26/04
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