Withdrawals/Leaves of Absence and Financial Aid for Graduate Students
The Impact of Withdrawing from All Courses
Withdrawing from all courses after the add/drop deadline is considered withdrawing from the university. If you do this before 60% of the semester is completed (approximately 8-9 weeks into the semester), your financial aid award will be recalculated, according to the percentage of the semester you have completed. The formula for calculating this percentage is:
(Days enrolled) – (Official breaks of five days or longer)
Total number of class days in the semester
Returning Aid
If you have been awarded Title IV (Federal) or State of Massachusetts aid and you withdraw before completing 60% of the semester, some portion of your financial aid award must be returned. The above formula determines what portion of the aid must be returned and the table below indicates the order in which the aid is returned.
|
Federal Aid |
|---|---|
1 |
Federal Direct Unsubsidized Loan |
2 |
Federal Direct Subsidized Loan |
3 |
Federal Perkins Loan |
Repaying Loans
If you have borrowed through an educational loan program, the first time you withdraw from the University you may be eligible for a grace period before repayment is required. At the end of the grace period, you must begin repayment according to schedule. If you are in default, you will not be eligible for further aid until the default status is cleared. If you return to school while you are repaying loans, you may be eligible for deferment of payment.
In any case, it is important to contact the holder(s) of any loan(s) you have borrowed, whether Federal, State or private, and learn about the repayment options that are available to you. Students who have borrowed Federal Student Loans may access their Federal Student Loan History on the National Student Loan Data System (NSLDS) using their Federal Personal Identification Number (PIN).
Frequently Asked Questions
What happens if I drop all my courses before the add/drop deadline?
If you withdraw before the add/drop deadline, you will not be billed for your courses. However, financial aid eligibility is calculated according to the number of days you attend, whether or not you are billed for the courses. Based on your exact withdrawal date, Financial Aid Services will calculate the amount of aid you have earned and return the remainder to the appropriate source. If you have already received an excess funds check (the amount of aid awarded less the amount applied to a bill), you may owe money that must be returned to the University.
What happens if I withdraw from all my courses after the add/drop deadline?
If any Title IV (Federal) Aid or State of Massachusetts aid has been credited to your student account, the University is required to determine what type(s) and amount(s) of the aid credited to your student account you have earned and what type(s) and amount(s) must be returned. If you have already received an excess funds check (the amount of aid awarded less the amount applied to a bill), you may owe money that must be returned to the University
Might I be required to repay grant money?
Yes, you might. UMass Boston disburses checks to students for any excess funds in their account after charges are billed. We do this as early in the semester as possible. If you withdraw before the 60% point in the semester, you may have to pay back some of the money you received in an excess funds check.
Are there situations in which I might be required to repay aid money?
Yes. If you do not complete at least 60% of the semester, you may be required to pay money back to the Federal and/or State aid programs.
Will I get a refund or reduction of the tuition charges?
After the add/drop deadline you are not eligible for a tuition and fee refund for reducing your course load. If you withdraw from the University before the sixth week of the semester, you will be eligible for a pro-rated refund. Refer to a current university catalog or the Bursar’s Office for information on the tuition refund policy.
Will withdrawing from all my courses affect my ability to get financial aid in the future?
Not directly, but review the Policy on Satisfactory Academic Progress to understand how withdrawals can affect your long-term eligibility in terms of the required 67% completion rate for attempted courses.