{"id":99,"date":"2011-06-05T19:52:07","date_gmt":"2011-06-06T02:52:07","guid":{"rendered":"https:\/\/laverne.edu\/financial-aid\/"},"modified":"2017-11-27T13:56:55","modified_gmt":"2017-11-27T20:56:55","slug":"withdrawing","status":"publish","type":"page","link":"https:\/\/laverne.edu\/financial-aid\/withdrawing\/","title":{"rendered":"Withdrawing from La&nbsp;Verne"},"content":{"rendered":"<p>All students receiving federal financial aid who completely withdraw within the first 60% of a term or semester are subject to the Return of Federal Funds provision.<\/p>\n<ul>\n<li>The responsibility to repay unearned aid is shared by the University of La\u00a0Verne and the student.<\/li>\n<li>During the first 60% of the term\/semester, the student \u201cearns\u201d federal aid in direct proportion to the length of time he or she remains enrolled.<\/li>\n<li>A percentage is calculated by dividing of the number of days completed in the term by the number of calendar days in the term.<\/li>\n<li>The percentage is applied to the amount of aid the student is eligible to receive for that term.<\/li>\n<\/ul>\n<h3>Requirement<\/h3>\n<p>The student shares in repayment of Title IV Funds awarded that are unearned. The student\u2019s share is the difference between the total unearned amount and La\u00a0Verne\u2019s share of unearned aid. The student must repay his\/her share of the unearned funds within 45 days after being billed by La\u00a0Verne or set up a repayment schedule with the US Department of Education. Its share is the lesser of (1) the total amount of unearned aid or (2) the institutional charges multiplied by the percentage of aid that was unearned. La\u00a0Verne must make post-withdrawal disbursements to eligible students who earned more aid than was disbursed prior to withdrawal.<\/p>\n<h3><strong>Options<\/strong><\/h3>\n<p>The student must either repay the funds in full within 45 days of notification or set up repayment schedule with the US Department of Education. La\u00a0Verne must return its share of unearned federal aid funds no later than 30 days after it determines that the student withdrew.<\/p>\n<table class=\"table article-table\">\n<tbody>\n<tr>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Note 1:<\/strong>\u00a0Any amount established by the Return to Federal Funds provision will be returned to the Federal programs in the following order: Federal Unsubsidized Stafford Loan, Federal Subsidized Stafford loan, Federal Perkins Loan, Federal PLUS Loan, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant.<\/td>\n<\/tr>\n<tr>\n<td><strong>Note 2:<\/strong>\u00a0If a student drops classes after the tuition refund period but before the 60% period of a term, the student will be charged for and will owe to the university, the entire amount of tuition; however, La\u00a0Verne will prorate and return a portion of the student\u2019s financial aid to the Title IV Program(s).<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>All students receiving federal financial aid who completely withdraw within the first 60% of a term or semester are subject to the Return of Federal Funds provision. The responsibility to repay unearned aid is shared by the University of La\u00a0Verne and the student. During the first 60% of the term\/semester, the student \u201cearns\u201d federal aid [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-99","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Withdrawing from La Verne - Office of Financial Aid | University of La Verne<\/title>\n<meta name=\"description\" content=\"All students receiving federal financial aid who completely withdraw within the first 60% of a term or semester are subject to the Return of Federal Funds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/laverne.edu\/financial-aid\/withdrawing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Withdrawing from La Verne\" \/>\n<meta property=\"og:description\" content=\"All students receiving federal financial aid who completely withdraw within the first 60% of a term or semester are subject to the Return of Federal Funds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/laverne.edu\/financial-aid\/withdrawing\/\" \/>\n<meta property=\"og:site_name\" content=\"Office of Financial Aid\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ULaVerne\/\" \/>\n<meta property=\"article:modified_time\" content=\"2017-11-27T20:56:55+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@ULaVerne\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/laverne.edu\/financial-aid\/withdrawing\/\",\"url\":\"https:\/\/laverne.edu\/financial-aid\/withdrawing\/\",\"name\":\"Withdrawing from La Verne - 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