I am currently enrolled in a university, im taking 5 classes but i need to drop/withdraw from one of these classes. I received fafsa help... will i need to pay fafsa back if i drop this class??
2007-03-28 17:26:07 · 5 answers · asked by i cant think of a nickname 1 in Education & Reference ➔ Financial Aid
Chances are that you won't have to pay them back. I have financial aid covering all of my classes and I have dropped 1 before and nothing happened. You don't get a refund check or anything, but you don't have to pay anything.
2007-03-29 01:53:51 · answer #1 · answered by fmxkrazyone 6 · 1⤊ 0⤋
Honey, go to your Financial Aid Office and ask this question, because it depends and they won't bite you. Most likely, as long as you remain enrolled in at least one course, the answer is no, you will not have to repay any of your aid for the semester. However, if you drop out entirely, or fall below half time, you may find yourself owing something back. If you withdraw completely before the 60% point of the semester (period of enrollment at your school) the financial aid officer must do what is known as Return to Title IV calculation to determine what percentage of aid you are eligible to keep. Your aid is reduced to that amount and this may leave you owing money back to the federal government and your school. Also if you reduce your class load below half time you do go into the grace period on your loans if you have them and may find yourself in repayment before you expect to be.
2007-03-29 06:16:13 · answer #2 · answered by mickiinpodunk 6 · 0⤊ 0⤋
if you remain full time, at least 12 credits, you will not have to pay back Pell money (free money). If you drop below 12 credits, 9-11 is 3/4 time and 6-8 is 1/2 time. Pell grant will adjust accordingly and you will have to pay back the difference.
2007-03-29 05:18:00 · answer #3 · answered by missy72_2002 1 · 0⤊ 0⤋
You don't need to pay back the government. Though you may have missed just one class, they aren't going to hunt you down since you don't owe them anything. In a case like this, consider the money like money in a gift card.
You have to use it for education but if you're dropping a class it would be similar to simply not using the gift card.
FAFSA was designed to help students with their education not make them worry.
Simon Legree
2007-03-28 17:31:29 · answer #4 · answered by Anonymous · 0⤊ 2⤋
you dont get a refund from the classes anyways right? so there is no need to worry, since you wont get any money to pay back the gov with anyways.
2007-03-28 18:03:42 · answer #5 · answered by Elc 2 · 0⤊ 0⤋