Full Withdrawal from FSA

Under federal regulations for FSA, you are considered to be “earning” your financial aid through regular attendance and completion of courses. Financial aid recipients who completely withdraw from a term or stop attending prior to the 60% point of a course within that term may need to return the unearned portion of their aid under the federal return of FSA fund regulations. Examples of the calculation to determine earned/unearned aid are available by contacting the financial aid office.

You may also be eligible for a refund of a portion of the tuition paid to JIU for the term based on the JIU refund schedule above. If you received financial aid, a portion of the refund will be returned to the grant or loan program from which it was received and you may owe JIU for a portion of the tuition.

The federal formula requires a return of FSA aid if you received aid and withdrew on or before completing 60% of the course within a term. The percentage of aid to be returned, or that which is unearned, is equal to the number of calendar days remaining in the term after the withdrawal date divided by the total number of calendar days in the term.

The responsibility to repay unearned aid is shared by you and JIU in proportion to the aid each is assumed to possess per federal guidelines. JIU’s share is allocated among the FSA programs, before your share, in the following order: Federal Unsubsidized Stafford Loan, Federal Subsidized Stafford Loan, Federal Pell Grant. Any remaining unearned aid is your responsibility and must be allocated among the FSA programs in the order indicated above.

JIU will calculate and return its share of unearned FSA funds no later than 30 days after it determined that you withdrew or stopped attending. You return your share of unearned aid attributable to a loan under the terms and conditions of the promissory note signed with a lender. JIU may allow you to repay unearned aid attributable to a grant under a payment arrangement satisfactory to JIU.