Maintaining EligibilitySatisfactory Academic ProgressWithdrawing from MNUUnofficial WithdrawalSatisfactory Academic ProgressIn order to maintain eligibility for federal and state funds, students must comply with MNU’s standards for academic progress. View the MNU policy by clicking on the link below. Withdrawing from MNUTreatment of Federal Student Aid When a Student WithdrawsProcedure for Official Withdrawal Undergraduate Traditional Students Graduate and Adult Studies Programs (MAC, MBA, MAOA, MED, MET, SPED, MHR) Institutional Refund CalculationsThe refund schedule for traditional students can be found in the Finances chapter of the Catalog. Graduate and Adult Studies Programs need to check their individual program catalogs for the refund schedule. Financial Aid RecipientsThe law specifies how MNU must determine the amount of Federal Student Aid (FSA) assistance that a student earns if he or she withdraws from school. The FSA programs that are covered by this law are: Federal Pell Grants, Federal Academic Competitiveness Grants, Federal Smart Grants, Federal Stafford Loans, Federal PLUS Loans, Federal Supplemental Educational Opportunity Grants (FSEOG), and Federal Perkins Loans. FSA funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of FSA funds that the student was originally scheduled to receive. Federal regulations require that the Return of Title IV Funds be determined when a student ceases enrollment prior to the end of the term. The federal calculation uses a specific formula to determine the amount of FSA funds a student has earned as of the date he or she ceases attendance. If a student receives more assistance than he or she earned, the excess funds must be returned to the federal programs. The amount of FSA program assistance earned is based on the amount of time the student spent in academic attendance and is determined on a pro-rata basis. For example, if the student completes 40% of the period of enrollment, he or she will earn only 40% of the assistance originally scheduled, and the remainder must be returned to the FSA programs. If a student completes 60% or more of the payment period, the student is considered to have earned 100% of the federal funds. If a student receives (or school or parent receives on behalf of student) excess FSA funds that must be returned, MNU must return a portion of the excess equal to the lesser of
If MNU is not required to return all of the excess funds, the student must return the remaining amount. Any loan funds that must be returned, the student (or parent for a PLUS loan) repays in accordance with the terms of the promissory note. That is, scheduled payments are to be made to the holder of the loan over a period of time. The requirements for federal program funds when a student withdraws are separate from MNU’s refund policy. There may be instances when the student does not receive enough of an institutional refund to cover the amounts MNU is required to return to the federal programs. Therefore, the student may still owe funds to the university to cover unpaid institutional charges. Unofficial WithdrawalFederal financial aid regulations state that a student who begins attendance and fails to earn a passing grade in at least one course offered over an entire semester, the institution must assume, for federal aid purposes, the student has unofficially withdrawn, unless the institution can document that the student completed the semester. Professors will be asked to submit documentation of the student’s last date of attendance in class and will need to document whether or not the student took the final examination for the course. The documented date will be used in the Department of Education Return of Title IV funds calculation. The federal calculation uses a specific formula to determine the amount of federal student aid funds a student has earned as of the date he or she ceases attendance. If a student receives more assistance than he or she earned, the excess funds must be returned to the federal programs. Unofficial withdrawal determination is only for the purpose of federal aid and will not change a student’s grades from an “F” to a “W”. Nor will an unofficial withdrawal generate an institutional refund of tuition and fees. |

