Withdrawing?.... Repayment of Student Aid Funds...
You may be required to REPAY Part or ALL of your financial aid if:
- You withdraw (officially, unofficially, or medically) from school or do not complete a semester.
Please refer to ISU's refund policies related to "Return of Title IV Funds" at www.isu.edu/finserv/titleIVfunds.shtml
- You have received your PELL Grant, then never attend a class or drop below the required number of credits for your
enrollment status before the Census Date. (Census Date: Fall semester, Spring semester, Summer session, or your first day of classes, whichever is later.)
- Your award was made on the basis of inaccurate or incomplete information (financial or otherwise).
- An error existed in determining your eligibility for aid or the amount of your award.
- You do not comply with the Responsibilities
of financial aid applicants/recipients.
Federal regulations mandate the calculation of the amount ISU must return to Title IV programs when an aid recipient withdraws. The student may be required
to repay ISU for funds the University is required to return to federal financial aid programs in excess of the ISU refund amounts. The Return of Title IV funds
calculation is very complicated and very individualized. The amount required for repayment is generated by the system once the student has withdrawn or drops
- If you do not attend classes, you need to repay all financial aid. If you do not attend, you have not
established eligibility for the financial aid you received. Loan and grant funds used to pay your student fees will be removed from your student account
and returned to the federal government, as prescribed by federal financial aid rules. All financial aid balance must be repaid within 30 days to Idaho State
Finance Office (282-3000).
- If you attend classes, the University will calculate your repayment based on federal regulations and requirements.
The repayment calculation is based on the time you attended the program, the withdrawal date, and the type and amount of financial aid you received.
The calculations identify the financial aid you earned for the semester and the amount the University and you must return to the Federal Title IV programs.
- Note: If you withdraw or drop below 6 credits (5 credits for graduate) and have taken Federal Direct Loans you must complete Exit Counseling at www.studentloans.gov