Students who withdraw from the University within the first 60 percent of the semester or term (e.g., module, mini-mester, or summer) will receive an adjustment to their federal financial aid (financial aid). This adjustment to a student’s financial aid will be based on:
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a percentage which represents the amount of time remaining in the semester
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and will be applied to the total institutional charges assessed to the student,
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as well as the Title IV financial aid applied to the student’s account.
The percentage that represents the amount of time remaining in the semester shall be determined by dividing the total number of calendar days in the semester not completed by the student by the total calendar days in the semester. The total calendar days in the semester begins with the first day of classes, ends with the last scheduled day of exams, includes weekends, but excludes scheduled breaks of five or more days and days that the student was on an approved leave of absence. No adjustments will be made to a student’s financial aid if the percentage representing the amount of time remaining in the semester is less than 40 percent.
The University will refund the amounts due to the appropriate Federal Student Aid (FSA) program in the following order:
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Unsubsidized Federal Direct Stafford Loans
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Subsidized Federal Direct Stafford Loans
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Federal Direct PLUS Loans
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Pell Grant
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Federal Supplemental Educational Opportunity Grant (FSEOG)
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Other grants or loan assistance authorized by FSAV of the Higher Education Act (HEA).
The University will assume the responsibility for making the appropriate refunds to the FSA programs for overpayments received by the student, as well as overpayments received by the University. It is the student's responsibility to pay the University for these overpayments within 90 days of the date they withdrew from the University.
https://financialservices.howard.edu/billing-payments/institutional-refundrepayment-policy