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Refund Policy, Requirements for Withdrawal and Return of Title IV Financial Aid

Refund Policy, Requirements for Withdrawal and Return of Title IV Financial Aid

If I drop a course or withdraw, what will happen to my financial aid?

Refund Policy, Requirements for Withdrawal and Return of Title IV Financial Aid

If you withdraw completely from classes during the tuition and fee refund period, and you had a BOGWFW to waive your fees, you will not receive a refund on the fees waived by the BOGFW. A student who receives financial aid and then completely withdraws from classes prior to completion of 60% of the semester will be assessed a percentage of unearned financial aid. You earn aid as you progress through the semester. For example: if you complete 30% of the semester you earn 30% of your aid awarded for the term.

Students will be required to repay the institutional portion of assessed refunds; failure to repay will result in a hold on academic records and any future registration at Peralta. Any federal portion due will be referred to the U.S. Department of Education and failure to make satisfactory repayment arrangements or failure to make any of these payments will make you ineligible to receive further aid at all colleges.

If a portion of aid received is from a Loan, the assessed repayment will be made according to the conditions indicated on the Loan Promissory Note. Any aid received under the Federal Work Study Program will not have to be repaid. If you completely withdraw after you have attended 60% of the semester, you will have earned all financial aid for that semester.

If you withdraw and have not received all earned financial aid, your home college will calculate a post- withdrawal refund that may be disbursed to you.

When a student is paid an initial Pell disbursement (usually 50% of the term award), and then drops enrollment to less than six units, the Pell grant will be recalculated to less-then-half-time status. The student will be required to repay the calculated balance to the Department of Education.

Assessed repayments will be refunded to the financial aid programs from which they were paid in the following order:

1. Unsubsidized Direct Loan
2. Subsidized Direct Loan
3. Pell Grant
4. Supplemental Educational Opportunity Grant

If you receive an overpayment of financial aid, even if it is a result of an institutional error, you will be required to repay the overpayment in order to maintain eligibility for financial aid.
For more information, please review the Student Financial Aid Handbook