OLOL College

What happens to my financial aid if I resign from the college?

What happens to my financial aid if I resign from the college?

Federal regulations require schools participating in Title IV programs to use specific refund policies when a student who receives Title IV aid ceases enrollment. When an official withdrawal occurs, federal aid awards (except Federal Work-study) may be prorated as follows: the number of calendar days completed during the semester divided by the number of days in the semester. An adjustment will not be made for a student that withdraws after 60% of the semester has passed. If funds are released to a student because of a credit balance on the student's account and the student later withdraws, then he/she may be required to repay some of the federal aid released. Students are encouraged to check with our office before resigning to determine how their aid would be affected.