Financial Aid Implications
If you withdraw from some or all of your courses or stop attending classes or enroll for less than half-time status, your aid will be revised and/or you MAY BE REQUIRED TO REPAY ALL OR A PORTION of the aid you received (see Return of Title IV Funds below).
You must notify the Financial Aid Office immediately if any of these changes occur.
The "last date of attendance" is used to determine the percentage of the enrollment-payment period the student completed. The student’s instructor(s) may be asked to provide the Financial Aid Office of the student’s last date of attendance, which may include the date of the last quiz or exam taken, date of the last assignment submitted, or the date of the last actual attendance in the course. The percentage of Title IV aid earned by the student is equal to the percentage of the enrollment-payment period the student completed.
Federal Direct Student Loan borrowers are required to complete an Exit Counseling when dropping below half-time enrollment or withdrawing from the university. Visit StudentLoans.gov to complete Exit Counseling.
Return of Title IV Funds
Federal Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive.
Students receiving any Federal Title IV aid, who completely withdraws prior to completing at least 60% of the enrollment period, must have a Return of Title IV processed to determine the amount of aid the student earned.
This requirement applies to students who receive federal student aid including Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Subsidized or Unsubsidized Federal Stafford Loans, but not Federal Work-Study.
If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received.
The student may still owe funds to Arkansas State University-Beebe to cover unpaid institutional charges. ASU-Beebe may charge the student for any Title IV aid that ASU-Beebe was required to return.
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- Plus Loan
- Pell Grant
A student may want to visit with the Financial Aid Office prior to withdrawing in order to determine how this may affect their future aid eligibility.