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Students with University approved financial aid
withdrawing from classes before those classes begin forfeit all aid. If
books and supplies have been charged to the student’s account, it is his/her
responsibility to return these items following Bookstore procedures. Any
hours already worked for a college work-study assignment will be paid
through the payroll process and deducted from any charges generated on the
student’s account. If no charges exist, the check will be mailed from the
Cashier’s Office using the permanent address on file for the student.
The date the Registrar’s Office determines as the “date
of withdrawal” is used to determine any potential adjustment to financial
aid. This date is:
1.) the verifiable date the student began the
withdrawal process, OR
2.) the date the student provided official notification of the intent
to withdraw, OR
3.) for the student who does not begin the school’s withdrawal policy or
notify the school of the intent to withdraw, the midpoint of the
enrollment period for which aid was disbursed (unless a later date can
be documented).
When calculating the percentage of the semester
completed, the total number of calendar days within the enrollment period
will be divided into the number of calendar days from the beginning of the
term until the student’s withdrawal date. Periods of five consecutive days
or more in which classes are not held (e.g. Thanksgiving holiday in fall or
Spring Break in Spring) are not included in the equation.
The amount of funding earned (maintained) by the student
is calculated by determining the percentage of the enrollment period
completed as of the official date of withdrawal. The complement of this
percentage is the unearned portion of the financial aid that will be
refunded to the respective assistance program. If the student withdraws
after the 60% point in the semester, the percentage of assistance earned is
100%. Unearned funds will be refunded by the school to the appropriate
financial aid program.
The amount the school must return is the lesser of:
the unearned amount of assistance, or
the institutional charges incurred for the enrollment period multiplied by
the unearned percentage.
The amount the student must return is the unearned
assistance minus the amount the school returns:
The order of program funding return is as follows:
| 1.) Unsubsidized federal
direct loans |
5.) Federal Pell grant |
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| 2.) Subsidized federal
direct loans |
6.) Federal SEOG |
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| 3.) Federal Perkins loan |
7.) other Title IV funds |
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| 4.) Federal direct PLUS
loans |
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Aid yet to be disbursed for which the student is
eligible is included in the calculation of earned and unearned assistance.
When students (or parents in the case of a PLUS loan) are required to return
a portion or the entire loan proceeds, the calculated amount is to be repaid
according to the terms of the loan program.
Students receiving aid from the state of Missouri
requiring full time enrollment, as part of the funding criteria must be
enrolled in 12 credit hours at the time the funds are received. If the
student has dropped below the requisite number of hours prior to this date,
the funds will be returned to the state.
Programs funded in their entirety by the University will
be pro-rated at the same percentage used by the Student Accounting Office
in pro-rating tuition charges:
| First Week of Classes |
All Institutional Aid
Cancelled |
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| Second Week of Classes |
75% of Institutional Aid
Cancelled |
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| Third Week of Classes |
50% of Institutional Aid
Cancelled |
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| Fourth Week and Beyond |
No Institutional Aid
Cancelled |
Non-attendance of classes once registration is complete
does not constitute official withdrawal. To insure the
appropriate financial aid adjustment is made, be certain to follow the
withdrawal procedures outlined in the University Catalog or call one of the
registration centers to determine the student’s responsibility in the
process.
The following is an example of the effect of withdrawal
on financial aid:
Fall semester of 2007 has 103 calendar days for Day
students. Student A begins the withdrawal process on September 29 (34
calendar days). Student A has earned 33% of the financial aid available for
Fall (33/103). Student B stops attending class but does not notify the
Registrar's Office or complete the withdrawal process. The withdrawal date
is set at October 16, the halfway point of the term. Student B may retain
50% of the financial aid for that enrollment period. Assuming both students
are full time and began with the same award, the pro-rated assistance for
each would be as follows:
| |
Student Aid Package |
Student A |
Student B |
| Pell Grant |
1650 |
25 |
850 |
| Academic Competitiveness Grant |
375 |
375 |
375 |
| Achievement Award |
2000 |
2000 |
2000 |
| SEOG |
1250 |
1250 |
1250 |
| Access MO Grant |
1955 |
0 |
1955 |
| Maryville Grant |
1500 |
1500 |
1500 |
| Work Study |
900 |
300 |
450 |
| Student Load ($1750) |
1732 |
0 |
0 |
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| Total |
11352 |
5450 |
8380 |
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Please Note: The work study amounts reflect payment
for all time worked by the student. The Access MO
Grant requires full time enrollment at the point disbursement.
Amounts are not pro-rated. The Student Loan
Program currently has a 1% origination fee deducted from every
disbursement. |
Refunds
In the event that a credit is generated on a student’s
account, the Cashier’s Office will request a refund check be issued to the
student and mailed to the permanent address on file. This process takes
approximately seven to ten working days from the date of the
credit-generating disbursement. Any changes added to the account after the
refund is requested are the responsibility of the student and should be paid
upon billing unless otherwise specified (e.g. bookstore charges, student
fees, added classes, etc.)
Students wanting credits to be maintained on his or her
student account must request in writing that a check not be issued. Credits
not absorbed by subsequent charges will be refunded to the student within 30
days of the end of the final semester of attendance for the financial aid
enrollment period (i.e. the academic year). |
