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Withdrawals and Financial Aid EligibilityIf you are planning to withdraw from SJSU and you are a financial aid recipient, we recommend that you contact the Financial Aid Office to determine how it might affect your current and future financial aid awards. Refer to the Schedule of Classes and SJSU Catalog. for information on the Instructions, Policies and Procedures for the withdrawal process. We must recalculate your financial aid eligibility according to a federal formula if you withdraw from all of your classes within the first 60% of the semester (see chart below) and received a financial aid check or financial aid has been applied to your student account from any of the following programs: Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Academic Competivitiveness Grant (ACG), National Science and Mathematics Access to Retain Talent (SMART) Grant, Federal Stafford Loan Programs, Federal Perkins Loan, Federal Graduate PLUS Loan, or Parent Loan for Undergraduate Students (PLUS).
Since your financial aid award was originally awarded for one semester or 15 weeks of enrollment, we must recalculate your eligibility based on your actual number of days attended. The exact amount of financial aid earned is determined by a federal formula and calculated on a pro-rata basis. You may be required to repay part or all of the money you received when you withdraw from school. The amount to be repaid, if any, is determined according to your withdrawal date. If you owe a refund, you will be notified in writing and will be required to contact the Bursar’s Office to arrange repayment. If you are eligible for a fee or housing refund due to your withdrawal, all or part of the refund will be used to repay financial aid before it is released to you. You may owe additional amounts as well, which you must repay. In some cases, if you are eligible for additional funds due to your withdrawal, we will notify you of your rights and options. You will not be eligible for any future federal or state financial aid until the balance due is paid in full. And, you will not be allowed to enroll in any upcoming semesters or have access to campus services (i.e.: transcripts, library services, etc.). You will also receive a letter stating that there is a hold on your future financial aid for not completing any units (refer to the Satisfactory Academic Progress policy). This hold can only be released by the Financial Aid Appeals committee. Students who have loans and withdraw from school must notify their lenders immediately. If you received a Perkins Loan at SJSU, you must schedule an Exit Interview with the Collections Department of the Bursar’s Office before leaving the University. Students with Federal Subsidized Stafford, Federal Unsubsidized Stafford or Federal Graduate PLUS Loans are required to complete the Exit Loan Counseling session online through the Edfund website at www.edfund.org . |
Financial Aid & Scholarship Office
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