If a Bright Futures recipient drops a class after the advertised add/drop date, (see Academic Calendar) he/she is required by the state of Florida to repay FGCU for Bright Futures credits paid. A hold will be placed on the account until payment is received.
Return of Title IV Funds (Federal Aid)
The Federal Government requires FGCU to return Financial Aid (Title IV) money to the appropriate Title IV programs for any student withdrawing before the 60% point of the semester. Students withdrawing that utilized Title IV aid for that term may owe the University a balance once the Title IV aid is returned.
Title IV Aid is financial aid provided by the federal government. This includes Pell Grants, FSEOG, TEACH Grants, Direct Loans and PLUS Loans. The Federal Government requires FGCU to return Financial Aid (Title IV) money to the appropriate Title IV programs for any student withdrawing before the 60% point of the semester. Students withdrawing that utilized Title IV aid for that term may owe the University a balance once the Title IV aid is returned. Title IV aid must be returned to the Title IV program before any refund can be returned to the student.
The amount of federal aid that a student has earned is determined on a pro rata schedule. The percentage of the semester attended is used to calculate the amount of the student's earned/unearned federal financial aid funds. The percentage of the semester attended is calculated by using the number of days the student attended and the total number of days in the semester. If a student withdraws from all classes (officially or unofficially) before the 60% point in the semester a portion or all Title IV aid will be considered “unearned” and must be returned, by the school, to the appropriate federal program. This debt must be repaid to the university by the student. Approved tuitions refunds/appeals will not affect the return calculation but may decrease the amount owed to the University.
Order of Returned Funds by the School
1. Unsubsidized Federal Direct Loans
2. Subsidized Federal Direct Loans
3. Federal PLUS Loans (both Parent and Graduate)
4. Federal Pell Grants
5. Federal Supplemental Educational Opportunity Grants (FSEOG)
6. Federal TEACH Grants
The student's grace period for loan repayments for Federal Unsubsidized and Subsidized Direct Loans and FFELP loans will begin on the day of the withdrawal from the University. The student should contact the servicer if he/she has questions regarding the grace period or repayment status. Exit loan counseling should be completed online at http://www.studentloans.gov.
A student is considered to have officially withdrawn from a semester when an official withdrawal form is filled out and turned into the Registrar’s Office. The withdrawal form is signed by a financial aid staff member at the time of withdrawal. The last date of attendance used on the return calculation will be the date the student signed the withdrawal form. If there is information on the form that suggests that this date may be incorrect, the financial aid office will confirm the last date of attendance with the student’s professors.
The last date of attendance for students that are administratively withdrawn from the University is the date on the suspension/expulsion notification received by the financial aid office from the office of student conduct.
Any enrolled student who either ceases attendance without officially notifying the University or fails to earn any credit hours for the term is considered an unofficial withdrawal. These students are subject to a return calculation if it is determined that they did not complete at least 60% of the term. The amount of aid returned is based on the last date of attendance as determined by the University. The financial aid office will confirm last date of attendance using registration/grade records at the end of the term. Professors will be contacted for last date of attendance if needed. A student that receives an incomplete (I) grade for a course is considered to have completed at least 60% of that course.
Last Date of Attendance
The last date of attendance is the last date the student participated in an academically related activity. This can include:
Academically related activities do not include activities where a student may be present, but not academically engaged, such as:
The Financial Aid Office has 30 days from the date the school determined the student had withdrawn to determine the last date of attendance. A student’s certification of attendance that is not supported by school documentation would not be acceptable documentation of the student’s last date of attendance at an academically related activity.
For additional information regarding withdrawals and repayment of Federal and state student aid, please go to http://www.fgcu.edu/FinancialAid/Undergraduate/withdrawals-repayment.html