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Any student that
does a complete withdrawal
from classes, and receives
a Pell Grant, SEOG Grant,
Perkins Loan, Subsidized Stafford Loan,
Unsubsidized Stafford or
a Parent PLUS Loan will
be required to pay several
hundred dollars back
to the federal government
immediately if they drop
out of school before 60%
of the semester has been
completed. This law
is called RETURN OF
TITLE IV FUNDS.
In essence, the Return
of Title IV Funds works
like this: If you drop out
before the 60% point of
a semester, you owe back
all the tuition charges
covering the balance of
the term. So a student who
completely withdraws after
25% of the semester owes
75% of their original tuition
charges back to the government
immediately! You will pay
this money to the SOSU Business
Office, who sends it to
the federal government on
your behalf. (Remember,
this applies only to complete
withdrawals, not partial
withdrawals.)
The chart below gives an
example of what payback
is due for different withdrawal
dates.
| Date of Withdrawal |
% of Term Completed |
Total Payback Due |
| Feb. 9, 2006 |
25.64% |
74.36% of funds received |
| March 22, 2006 |
60.68% |
00.00%** |
| **Withdraw
after 60% and NO PAYBACK
REQUIRED |
Students who drop after
60% of the semester has
passed do not owe immediate
paybacks at all!
| Southeastern will
NOT automatically
cancel a student's Enrollment
for nonpayment of tuition
and fees.
ONCE
YOU HAVE ENROLLED
YOU MUST OFFICIALLY
WITHDRAW FROM CLASSES
IN PERSON OR IN WRITING.
Complete withdrawal
from the institution
is the sole responsibility
of each student.
So, Remember,
we want you to stay
in school the entire
year, but if something
unexpected were to
happen.....timing
could mean the difference
in having to pay funds
back to the federal
government.
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