Withdrawals and refunds

Students withdrawing from all classes during a semester may be subject to refund policies.

Federal Title IV Student Financial Aid
Federal regulations mandate the formula for calculating the amount of federal aid a student and school may retain when a student withdraws from all classes during a semester. In general, a student “earns” federal financial aid in proportion to the number of days in the semester the student has attended. The school must calculate the portion of the total financial assistance that the student has earned and is entitled to retain. If a student receives (or the college receives on the student’s behalf) more assistance than the student earns, the unearned funds must be returned to the applicable federal aid program. Students who initiate a complete withdrawal and have not completed the federal verification process will be ineligible to receive any Title IV financial aid.

This policy applies to all students who completely withdraw, drop out or are expelled from Hope College and receive financial aid from Title IV funds:

Federal Title IV Student Financial Aid consists of:

• Federal Academic Competitiveness Grants
• Federal Direct Loans (both subsidized and unsubsidized)
• Federal Perkins Loans
• Federal PLUS Loans
• Federal Pell Grants
• Federal SMART Grant
• Federal Supplemental Educational Opportunity Grants (SEOG)
• Federal TEACH Grant
• It does not include Federal Work Study (FWS)

A student’s withdrawal date is:

• The date the student began the withdrawal process.
• The midpoint of the period of enrollment for a student who leaves without notifying the College.
• The student’s last date of attendance at a documented academically related activity.

Prorated adjustments on all institutional charges, including tuition & fees, are
calculated using the College Refund Policy.

Title IV aid is earned on a prorated basis up to and including the 60% point in the semester. After the 60% time of attendance is reached, Title IV aid is viewed as 100% earned.

Unearned Title IV aid shall be returned to the loan programs before grant programs.

Adjusted statements are sent to the student’s permanent address on file. Students are responsible for any remaining portion of their institutional charges after Title IV funds are returned. Resulting credit balances are paid to the student within 14 days after the adjustments are posted.

Students who are making a complete withdrawal during a semester must complete a Withdrawal Form (obtained at the Office of the Registrar).

STATE OF MICHIGAN AID

Michigan Competitive Scholarship or Tuition Grant

If a student withdraws and is eligible for a full tuition refund, any Michigan Competitive Scholarship or Tuition Grant award will be cancelled. If the student is eligible for a partial refund, his/her award will be reduced based on the percent of the tuition and activity fee originally paid by the award.

Hope College Grants, Scholarships & Outside Scholarships
A student will retain a percentage of all other financial aid based on the percentage of tuition retained.

More information on withdrawals and refunds is available in the Hope College Catalog.