蘑菇视频网 (CWI) students receiving federal financial aid who withdraw from all of their classes may need to repay some of the financial aid funds they received. Review the information below to learn more about withdrawals and returning of federal funds.
Always contact Financial Aid before withdrawing to confirm how it may affect your financial aid.
The Department of Education provides financial aid to students on the condition they earn it over the course of the semester by participating in their classes. You earn all of your financial aid by attending or academically participating 60% or more of the semester. The semester calculation includes all calendar days, including weekends and holidays. If you withdraw from all of your classes or stop attending before 60% of the term has passed, you have not earned all of your financial aid funds and may need to pay some back.
The earned and unearned portions of financial aid are determined by the date a student stopped attending or participating in classes, known as the withdrawal date. A student must attend up to 60% of the semester in order to have "earned" 100% of their financial aid. If a student fully withdraws before attending at least 60% of the semester, CWI must calculate the unearned portion of financial aid, which must be returned.
To calculate how much financial aid needs to be returned, CWI must determine the student's withdrawal date. There are two categories of withdrawals: official withdrawals and unofficial withdrawals.
A student is considered to be officially withdrawn on:
Official dates and deadlines for withdrawing are specified in CWI's Academic Calendar.
Unofficial withdrawals encompass all other withdrawals where the student stopped attending but official notification was not provided to CWI. If a student does not officially withdraw and subsequently fails to earn a passing grade in at least one class offered during the semester, CWI considers the student to have unofficially withdrawn.
For a student who unofficially withdraws, the withdrawal date is entered as whichever is the latest:
Financial aid is earned for each day a student participates in their classes.
Academic participation includes:
Academic participation does not include:
When a student is determined to have withdrawn, either officially or unofficially, CWI will use federal regulatory rules to make determinations and complete the following activities:
When returning federal financial aid funds to the Department of Education, CWI returns the funds in a specific order per federal regulations. The order is as follows:
If a student's earned financial aid is greater than what was disbursed to the student by the date the College determined the student had withdrawn, the difference must be disbursed.
Federal loan post-withdrawal disbursements require the student (or parent, if a Parent PLUS loan) to accept the loans to receive the post-withdrawal disbursement. The letter of acceptance will be sent to the student's assigned CWI email or the parent's email provided on the loan application. The acceptance letter will need to be returned to the Financial Aid office. If no action is taken, the funds will be canceled.