If I am in college and my tuition was paid by financial aid, and in the middle of the semester, I decide to drop out, do I have to pay the tuition back?
2007-03-21 10:46:04 · 7 answers · asked by Anonymous in Education & Reference ➔ Financial Aid
If you drop all your classes.. NOW they changed it to where you do have to pay back.. and sometimes if you owe a balance with the school they wont let you register for classes .. you should talk to your financial aid office .. call them up and ask them.. every school can be different..
2007-03-22 03:43:12 · answer #1 · answered by Grace 4 · 1⤊ 0⤋
All schools must have an established policy on refunds. You can find your school's by going to the website and searching for "refund policy".
The refund policy explains how much you owe the school if you drop out at certain times.
Example:
If you drop out
First 3 weeks 100% refund
4th week through 8th week 75% refund
9th week through 12th week 50% refund
13th week through end no refund
Based on that, they will calculate how much you owe.
Financial aid isn't always calculated the same way as the school's refund policy, so you may end up owing or you may end up with some extra cash.
Check with both your lender and your financial aid office for specifics. And good luck!
2007-03-28 04:57:23 · answer #2 · answered by Holly 5 · 0⤊ 0⤋
Depending on your school's policy, they may keep a certain percentage of the money already in your account and return the loans. At my school, you are responsible for 80% of tuition if you leave after two weeks of classes, but if your financial aid covers it, you're fine. You should call the financial aid office.
2007-03-21 15:22:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
File an appeal explaining your situation to your financial aid office. If you don't plan to return file a forebearance with the FASFA folks if you have take out a loan. I would go to a community college and enroll in a internship and independent study for 6 units, and get a deferement from the feds on the loan.
2007-03-28 18:34:07 · answer #4 · answered by TantraGoddess 2 · 0⤊ 0⤋
yes, you will have to pay it back. You need to finish a certain percentage of the semester in order to keep from paying back your aid. Usually you will be ok if you drop the class on the last possible day.
2007-03-21 18:11:05 · answer #5 · answered by iloveeeyore 5 · 1⤊ 0⤋
Umm...I dropped a few classes and I still kept the money. But then I went back to school. But they finally took the finacial aid...I didn't complete the % of classes I was suppose to.
2007-03-21 10:54:49 · answer #6 · answered by M♥R 3 · 0⤊ 0⤋
Nope,
2007-03-21 14:27:44 · answer #7 · answered by NYC-BIGCAT 5 · 0⤊ 2⤋