Students may be permitted to return some of their student loan monies if they withdraw or drop courses or take a leave of absence. Review the information below to see what situations allow you to qualify.
Return of Title IV Funds
The financial aid office will return loan proceeds for all FDSLP students who drop or withdraw from all courses, take a leave of absence or are administratively withdrawn prior to completing 61 percent of a semester. More information can be found in the Student Aid Handbook at www.IFAP.ed.gov.
Federal regulations are not related to the Seminary’s charge adjustments, but rather to the adjustments of funds received through FDSLP.
Please keep in mind that when FDSLP financial aid is returned to the lender, the student may still owe a balance to Westminster.
If a student withdraws after the 60th percent point in the semester or term, no adjustments will be made to his or her FDSLP loan. He or she is considered to have earned 100 percent of this aid.
Federal regulations require the Seminary to return unearned aid to the lender in the following order:
Unsubsidized Federal Direct Loan
Graduate PLUS Loan
Under the federal refund calculation regulations, all fees must be refunded to the Federal Title IV program, even those specified in the catalog as “non-refundable.” The following schedule is applicable to all terms.
Federal Refund Calculation
Students and alumni who are seeking help with a Federal loan issue that they were not able to resolve with the appropriate loan provider may contact the Federal Student Aid Ombudsman Group.