Students with University approved financial aid, withdrawing from classes before those classes begin, forfeit all aid. If books and supplies have been charged to the student’s account, it is his\/her responsibility to return these items following The M Store procedures. Any hours already worked for a college work-study assignment will be paid through the payroll process and deducted from any charges generated on the student’s account. If no charges exist, the check will be mailed from the Cashier’s Office using the permanent address on file for the student.<\/p>\n
The date the Academic Records department determines as the “date of withdrawal” is used to determine any potential adjustment to financial aid. This date is either:<\/p>\n
When calculating the percentage of the semester completed, the total number of calendar days within the enrollment period will be divided into the number of calendar days from the beginning of the term until the student’s withdrawal date. Periods of five consecutive days or more in which classes are not held (e.g. Thanksgiving holiday in fall or Spring Break in spring) are not included in the equation.<\/p>\n
The amount of funding earned (maintained) by the student is calculated by determining the percentage of the enrollment period completed as of the official date of withdrawal. The complement of this percentage is the unearned portion of the financial aid that will be refunded to the respective assistance program. If the student withdraws after the 60% point in the semester, the assistance earned is 100%. Unearned funds will be refunded by the school to the appropriate financial aid program.<\/p>\n
The amount the school must return is the lesser of:<\/p>\n
The amount the student must return is the unearned assistance minus the amount the school returns:\u00a0 The order of program funding return is as follows:<\/p>\n
Aid yet to be disbursed for which the student is eligible is included in the calculation of earned and unearned assistance. When students (or parents in the case of a PLUS loan) are required to return a portion or the entire loan proceeds, the calculated amount is to be repaid according to the terms of the loan program.<\/p>\n
Students receiving aid from the State of Missouri requiring full time enrollment, as part of the funding criteria must be enrolled in 12 credit hours at the time the funds are received. If the student has dropped below the requisite number of hours prior to this date, the funds will be returned to the state.<\/p>\n
Programs funded in their entirety by the University will be pro-rated at the same percentage used by the Student Accounting Office in pro-rating tuition charges:<\/p>\n
| First Week of Classes<\/td>\n | All Institutional Aid Cancelled<\/td>\n<\/tr>\n |
| Second Week of Classes<\/td>\n | 75% of Institutional Aid Cancelled<\/td>\n<\/tr>\n |
| Third Week of Classes<\/td>\n | 50% of Institutional Aid Cancelled<\/td>\n<\/tr>\n |
| Fourth Week and Beyond<\/td>\n | No Institutional Aid Cancelled<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Non-attendance of classes once registration is complete does not constitute official withdrawal<\/em>. To insure the appropriate financial aid adjustment is made, be certain to follow the withdrawal procedures outlined in the University Catalog or call one of the registration centers to determine the student’s responsibility in the process.<\/p>\n To insure the appropriate financial aid adjustment is made, be certain to follow the withdrawal procedures outlined in the University Catalog or call one of the registration centers to determine the student’s responsibility in the process.<\/p>\n The following is an example of the effect of withdrawal on financial aid:<\/p>\n A fall semester has 103 calendar days for Day students. Student A begins the withdrawal process on September 29 (34 calendar days). Student A has earned 33% of the financial aid available for Fall (33\/103). Student B stops attending class but does not notify the Academic Records department or complete the withdrawal process. The withdrawal date is set at October 16, the halfway point of the term. Student B may retain 50% of the financial aid for that enrollment period. Assuming both students are full time and began with the same award, the pro-rated assistance for each would be as follows:<\/p>\n |