UW-L Financial Aid Policies
Policy on Return of
Federal Financial Aid Funds
Federal law specifies how a school determines the amount
of federal financial aid students have earned and how much must be
repaid to the federal aid programs when the student withdraws from
school during the semester. According to federal regulations, the amount
of aid earned will be calculated on a pro-rata (percentage) basis. The
percentage earned equals the number of calendar days completed before
withdrawal divided by the total number of calendar days in the
enrollment period.
When a student has received federal financial aid in excess of the percentage earned, the funds must be returned to the federal financial aid programs. The student may be responsible for repayment of unearned financial aid, in addition to any fees owed to the University.
Pro-rata return of Federal funds is required if the withdrawal occurs before sixty percent (60%) of the semester has elapsed.
When a student withdraws:
Processing of the withdrawal and calculation of any amounts
to be repaid, will be completed when all account adjustments are received in
the Business Services Office.
The University is required to repay to the federal aid
programs the percentage of unearned aid that was used to pay the
student's university bill. As a result, the student may have a balance
due on their university bill.
The Business Services Office will then send notification to
the student of any amounts due the University and/or the federal aid
programs. The student is responsible for providing a current mailing
address on the withdrawal form. Payment for any amounts due are to be
made to the UW-L Business Services Office. Loans are to be repaid to the
lender per the terms of the loan agreement.
Amounts to be repaid will be added to the student's
University bill. The student will receive bills according to the
University's regular billing schedule. The student's university records
will be restricted, and the student will not be eligible for further
federal financial aid until all amounts are paid in full.
The Financial Aid Office is not able to calculate or estimate
the amount of funds to be returned, if any.
