Financial Aid for Students on a Leave of Absence is Prohibited No financial aid, in any form, is available to students during a leave of absence. This is regardless of the type of leave, or the purpose of the leave. Students on a leave of absence may not receive federal loans, private loans, institutional loans, institutional scholarships, outside scholarships, or federal work-study funds. Mandatory Exit Interview Any student who is a recipient of Financial Aid and is entering a leave of absence must meet with the Financial Aid Office prior to entering the leave. Students must participate in an exit interview. The purpose of the exit interview is to review the terms of student loans, such as grace, deferment and repayment options. The Financial Aid Office will also discuss how the leave of absence or withdrawal will impact funds the student has already received for the quarter, and if a refund may be required. Students may be required to complete additional paperwork from the Business Office. Returning from a Leave of Absence Students must contact the Financial Aid Office 30 days prior to returning from the leave of absence for applications and counseling. Institutional Scholarship Policy Institutional Scholarships will be retracted if the student withdraws or enters a leave of absence during a term. Institutional scholarship dollars already received by the student for the quarter of withdrawal will be prorated for the dates of enrollment. Title IV Refund Policy Students may not receive any financial aid, including Title IV funds, during a leave of absence. If a student enters a leave after a quarter has begun, all Title IV funds disbursed will be evaluated for refund. The percentage of Title IV funds retained by the student depends on the percentage of time s/he was enrolled during the quarter. If a student was enrolled in less than 60% of the calendar days of the quarter, the Title IV funds will be prorated. For example, if a student was awarded a $2,000 Unsubsidized Stafford for the Fall quarter, and withdrawal after completing 25% of the quarter, that student would only be entitled to keep $500 and $1500 would be refunded. Note that in many cases, a student will owe full tuition for a quarter but not be entitled to the full amount of Title IV funds. For this reason, most students enter a leave after a quarter has started will owe a refund of Title IV funds and therefore owe the University money to cover tuition and fees. See the Title IV Refund Policy for more details. Educational Leave of Absence Policy Federal regulations prohibit aid for students on a leave of absence. A student on a leave of absence for educational coursework may appeal to receive private loan funding. Appeals are reviewed by committee on a case by case basis. Funding is not guaranteed. Satisfactory Academic Progress Policy In accordance with Federal regulations, students must meet the criteria for Satisfactory Academic Progress to be eligible for financial aid. Students denied financial assistance due to failure to make satisfactory academic progress may appeal to the Dean of the academic program. The dean may request reinstatement of the student's satisfactory academic standing by providing to the Registrar’s Office a written summary of the student's projected program and benchmarks by which progress will be measured. If approved, aid will be reinstated based on individual program eligibility.
Contact the Financial Aid Office: (847) 578-3217