Withdrawal from the University and Return of Title IV (R2T4) Funds
All students should consult with a financial aid counselor in the Office of Financial Aid before changing enrollment status or withdrawing from the University. Any changes may affect financial aid eligibility.
Federal financial aid is awarded to a student under the assumption that the student will attend school for the entire semester for which the aid is awarded. When a student withdraws from the University (officially or unofficially), he or she may no longer be eligible for the full amount of federal aid originally awarded. If a federal financial aid recipient withdraws after beginning classes and before the 60 percent point in the term, the amount of federal grant and/or loan assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned to the federal government by the university. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, the student may be entitled to a post-withdrawal disbursement. It is important to note that the amount of federal aid earned by the student is determined by the percentage of term completion (number of days in the semester divided into the number of days the student attended), and is not related to the University tuition refund policy. Scheduled breaks of five or more consecutive days are excluded from the number of days in the payment period. In the event that funds need to be returned, the student may find an outstanding balance on his/her account. The student is responsible for any outstanding balances owed to the University when funds are returned. Funds that the institution must return to the federal government will be returned no later than 45 days after the date of withdrawal determination.
Courses that do not span the entire length of the regular semester are considered to be modules. A student who is enrolled in module courses is not considered to have withdrawn for R2T4 purposes if the student completes one module that includes 49% or more of the number of days in the payment period. A student is not considered to have withdrawn if he or she submits in writing the intent to enroll in a later module course within the same semester. If the student does not begin attendance in the later module, the student is then considered withdrawn and a R2T4 calculation will be performed. Scheduled breaks of five or more consecutive days and all days between modules are excluded from the number of days in the payment period.
Title IV funds that are subject to recalculation in the event of a withdrawal from the University are (returned in this order): Unsubsidized Federal Direct Stafford Loans, Subsidized Federal Direct Stafford Loans, Federal Direct PLUS Loans, Federal Pell Grants, Iraq & Afghanistan Service Grants, Federal Supplemental Educational Opportunity Grants (FSEOG) and TEACH Grants (St. Joseph's University does not currently participate in the TEACH Grant).