Please consult with an advisor in the Office of Financial Aid and Scholarship Services before you officially change your enrollment status or withdraw from the University, as your financial aid may be impacted by any status changes.
The process of withdrawing is a formal procedure which the student has the responsibility to initiate. The date recorded by the Registrar's Office will be used as the official withdrawal date to determine the amount of Title IV financial aid 'earned'.
|DDS Students: Students must contact the Office of Academic Affairs, in the School of Dental Medicine, to complete the necessary paperwork to withdraw from the school.|
Return of Title IV Funds Calculation for Withdrawals
Federal financial aid awards are based on the assumption that the student will complete the entire term that the awards are processed for. If a student withdraws during a term, federal regulations require the Office of Financial Aid and Scholarship Services to apply a formula established by the U.S. Department of Education to determine the amount of federal financial aid earned as of the official withdrawal date from the university.
The amount of federal financial aid earned is determined by the percentage of time spent in academic attendance, and has no relationship to the institutional charges you may have incurred. Once 60% of the semester has passed, you have earned 100% of the federal financial aid awarded to you.
Title IV funds that are considered for the calculation include Health Professions Student Loan, Stafford Loan (Subsidized and Unsubsidized) and Grad PLUS Loans.
Once a student withdraws, the return of Title IV funds calculation is run by the Office of Financial Aid and Scholarship Services. The calculation determines the amount of Title IV aid a student has 'earned' by dividing the number of days completed by the number of days in the semester. The percentage of the semester completed is then multiplied by the overall Title IV aid the student was eligible for had they not withdrawn.
If the amount of aid 'earned' is less than the amount disbursed to the student's account, funds must be returned to the federal program(s). Funds will be returned to loans first, then grants.
IMPORTANT: If funds need to be returned, it may create an outstanding balance on the student's account with the university. The student will be responsible for any outstanding balance when funds are returned to Federal Programs.
If all funds have not been disbursed to the student's account at the time of withdrawal and the amount of aid 'earned' is greater than the amount disbursed, the student may be eligible for a post withdrawal disbursement.
The post withdrawal disbursement notification will inform the student of any action necessary to have the funds disbursed. The notification will also indicate which program(s) the funds are available from. The student will also be notified whether authorization is needed to disburse loan funds to an outstanding university balance or if the student is eligible for a refund due to the disbursement.
If you decide not to attend Stony Brook University, it is your obligation to properly withdraw through the appropriate office. Non attendance of classes does not classify as an official withdrawal, and does not relieve the student of his or her financial obligation or entitle the student to a refund.
The tuition liability schedule can be found on the Bursar/Student Accounts web site. It is the student's responsibility to know the tuition liability when withdrawing for the term. A resident student should also contact campus residence and the meal plan offices to determine how the withdrawal will impact housing and meal plan charges.
|How Tuition Liability and Financial Aid Interact When a Student Withdraws|
If a student withdraws before 100% tuition liability the charges will be reduced accordingly. This may temporarily create a credit on the student account. The Bursar will not issue a refund to the student until the Office of Financial Aid and Scholarship Services performs the return of Title IV funds calculation to determine if any financial aid funds need to be returned. After the adjustments are made, the student will either receive a refund for any remaining credit or a bill with the balance due.
All students should consult with a Financial Aid Advisor before changing enrollment status, to determine the effect on their financial aid eligibility.