Students attending SUNY Adirondack who are receiving federal Title IV financial aid (i.e. federal Direct or PLUS loans; federal Pell and SEOG grant funds) are required to return the portion of unearned aid if they withdraw or otherwise fail to complete the period of enrollment for which the Title IV aid was provided. The return of funds does not apply to any student whose date of withdrawal is beyond the 60 percent enrollment period for which the student has been charged. The last date of attendance is determined by the date the student began the College’s withdrawal process or the student’s last date of recorded attendance (or other acceptable academic activity).
To determine the percentage of aid earned, divide the number of calendar days completed by the total number of calendar days in the enrollment period (excluding scheduled breaks of five days or more AND days that the student is on approved leave of absence).
Federal financial aid is returned to the program from which it was disbursed based on the percentage of unearned aid. To determine the percentage of unearned aid, subtract the percentage of aid earned from 100. The percentage of unearned aid is then multiplied by the amount of aid disbursed toward allowable institutional charges (e.g., tuition, room, and board).
Please note students who take a leave of absence or withdraw, and are also Title IV aid recipients should be aware of the following: The 6 month grace period for federal loans (Direct Loan and Direct PLUS) begins from the student’s last date of attendance as determined by the College. A student who is on an approved leave of absence will be considered as in school for purposes of repayment of federal loans. Should the student not return from an approved leave of absence, the last date of attendance will be considered the date the approved leave of absence began. Federal regulations do not allow for the period of study to be interrupted for more than 180 days, excluding standard periods of non-enrollment.
Before being granted approval for withdrawal or leave of absence, all students who are federal loan recipients are required to be counseled by the Financial Aid Office to discuss the consequences of their changed status.