this is my first semester and i just recently withdrew from my classes for personal reasons. the problem is that i got financial aid. do i have to pay all that money back.. even though i'm going to go fo the next semester
2006-11-26 15:05:54 · 6 answers · asked by coqueta19 2 in Education & Reference ➔ Financial Aid
You really need to check with your school on that question.
If it is for personal reasons, try to get documentation. For example, if you were sick I would try to get a doctor's note to explain the circumstances.
Hope this helps!
2006-11-26 15:10:14 · answer #1 · answered by Will 2 · 0⤊ 1⤋
To really get the correct answer - - GO DIRECTLY to the college's Financial Aid Department, with the reasons why you withdrew from the classes this semester -- and see what they say about your financial aid status.
Since you did not state this -- did you Withdraw BEFORE or AFTER the Withdraw/Drop Deadline? That is going to be key with the issue of Financial Aid -- and what about the books/supplies that you purchased with Financial Aid as well?
2006-11-26 15:15:39 · answer #2 · answered by sglmom 7 · 0⤊ 0⤋
Yes, you will go into repayment for all or a portion of the financial aid funds you received for the semester, regardless of your reason for withdrawing.
Unfortunately, the bottomline is that you are not eligible for the funds because you are not completing any units for the semester, so it doesn't really matter what your excuse is. Your school may prorate the amount you are eligible to keep depending on the percentage of the semester you will still enrolled. Talk to your schools Financial Aid Office for more specific information.
2006-11-27 11:34:21 · answer #3 · answered by superstar_81882 5 · 0⤊ 0⤋
If you received grants and you withdrew late in the semester, you will not have to pay those back. However, if you received loans, they will be wanting their money back in a few months. I withdrew my first semester and had to pay back a few thousand dollars. Thankfully, the student loans are generally easy to pay back (they work with you quite well in my experience), and you can get unemployment deferrments if you're not working.
Also, if you return to college, they will defer your payments. You definitely need to speak to your financial aid department as soon as possible so you are aware of what is going to happen rather than getting the aid taken out of your tax returns.. Because that's what they will do, trust me.. ;)
2006-11-26 16:32:18 · answer #4 · answered by asleep 2 · 0⤊ 1⤋
Your financial aid covered your school fees. Since u are not taking the classes, financial aid will take the money back from the school and the school will be sending u a bill. I withdrew from one class and fell one credit below full-time. Now I owe the school almost 500 dollars and that has to be paid before I caN return...I dunno id different schools have different rules, But this did happen to me.
2006-11-26 15:15:53 · answer #5 · answered by ebaijunky06 3 · 0⤊ 0⤋
Yes, you not only owe the money, back, you are responsible for the tuition that might be due on your semester even if you withdrew. It depends on when you withdrew.
2006-11-26 15:17:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋