What will happen to my financial aid if I:

• Withdraw from one or more classes
• Change a class from credit to audit
• Withdraw from school

If your circumstances change during the semester and you need to withdraw from some or all of your classes, keep in mind that there may be an impact on your financial aid. Before making a change to your classes, it's always a good idea to contact the Financial Aid office by phone at 260-481-6820 or at the office in Kettler Hall, Room 102.

If you decide to withdraw from one or more classes, but still attend at least one course, your financial aid could be affected. See below for further explanation.

If you change a class from credit to audit, it is considered to be the same as withdrawing from a class, and it would have the same effect on your financial aid. See below for further explanation:

When will the enrollment change take place? 

• If during Drop/Add week, Pell eligibility will change
• If prior to week 4, SSACI eligibility will change (Frank O'Bannon Higher Education Award, 21st Century Scholar award)
• If during the refund period, refund issued for withdrawing from a class. If you change a class from Pass/Fail to Audit, you will not receive a refund.

After action, will the student be at least half time?

• If Yes: no action if after 4th week for SSACI, no action if after Drop/Add for Pell
• If No: grace clock begins to tick.  If not enrolled at least half time in 180 days, all loans go into repayment, student notified to do an exit interview.

If no, when will the student re-enroll?

• If re-enrollment occurs in less than 180 days, student’s grace clock will be reset to 0 and deferment re-established.

After action, will the student still carry graded credits?

• Yes: no action
• No: Return of Title IV calculation invoked. This means that some or all of your financial aid will be returned to the government (for grants) and/or your lender (for loans)

What are the long term effects of withdrawing/auditing?

• SAP (Satisfactory Academic Progress)completion ratio
• Student reaches Stafford Loan aggregate limits without reaching degree

Additionally, your attendance may affect your Satisfactory Academic Progress (SAP). Whether you withdraw from a class, fail a class, or pass a class, this will affect your SAP. If you pass all your classes, it will have a positive affect on your SAP. Likewise, if you fail, withdraw, or do not attend your classes, it will have a negative affect on your SAP. You may read more about Satisfactory Academic Progress in the Financial Aid Process section.

IPFW Return of Financial Aid Funds Policy for students who fully withdraw from the university

If you decide to stop attending IPFW, you must withdraw through myIpfw or through the Registrar’s office. Refund periods for classes may be found in the Billing Process Section.

Who is affected by this policy and what does it mean?

• If you withdraw from all classes, you may be required to pay back some of the financial aid you received. The university will pay the funds back to the state or federal program. The university may use a collection agency to help recover funds you owe.

When did you withdraw and what is the impact of your withdrawal?

• If you withdraw from all classes after 60% of the semester has been completed, you will not have to pay back funds.
• If you withdraw from all classes before 60% of the semester has been completed, you must pay back some of the financial aid you received.
• If you withdraw from all classes early in the semester/summer session and receive a full or partial refund of fees, the amount you are required to pay back will be adjusted..
  
• If you withdraw from some, but not all of your classes, you will not be required to pay back financial aid, unless you drop below 12 credit hours during the first four weeks of classes during fall or spring semester AND have a Higher Education Award or a 21st Century Scholarship. In that case, you will owe the full amount of the grant or scholarship back to the school.

If you stop attending classes, but do not officially withdraw from them, we will follow federal rules to set a withdrawal date. We will also calculate a withdrawal date if all of your grades during a semester are W, F, or I.

What money will you have to pay back?

If you are required to pay back financial aid, it will be repaid to the following programs in this order:

• Federal Unsubsidized Stafford Loan
• Federal Subsidized Stafford Loan
• Federal Perkins Loan
• Federal Parent Loans for Undergraduate Students (PLUS loan)
• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (FSEOG)
• Academic Competitiveness Grant (ACG) or SMART Grant
• Other Title IV grant programs
• Institutional or State Funds

How will we calculate the amount to be paid back?

• We will compare the number of days of enrollment to the number of days in the semester/summer session. Example: If you withdrew from all classes when 30% of the term had been completed, 70% of your aid will have to be paid back.

What will happen to my bill if I am required to pay back some aid funds?

• We will reduce or cancel the aid from your bill.
• If you received a refund, we will send you a bill for the amount you owe.
• If you owe the university money, you must make payment arrangements within 45 days. If you do not make payment arrangements, you may lose eligibility for further federal and state aid.

How will this affect Satisfactory Academic Progress (SAP) calculations?

• Withdrawing from classes always affects SAP, regardless of any refunds or repayments.
• To maintain SAP, you must successfully complete at least 67% of your classes and have a satisfactory GPA.