The amount that students must return is determined on a proportional basis up to 60% of the entire term. If the student completed 20% of the term, the student has earned 20% of the total aid scheduled to be received. If a student completed more than 60% of the term, they have then earned all of their financial aid.

The withdrawal date is the date you inform the University you have chosen to withdraw. The Registrar’s Office keeps this date and it is used to calculate the amount of financial aid that must be returned.

Funds must be returned in the following order:

  1. Unsubsidized Federal Direct Stafford Loans
  2. Subsidized Federal Direct Stafford Loans
  3. Federal PLUS Loans received on behalf of the student

If you did not receive all of the funds you earned, you may receive a post-withdrawal disbursement.

Below are two examples of the calculations used to find the amount a student is expected to repay based on the date they withdrew:

Example I

Remus withdrew from AUR on January 30th. The term he withdrew from began on January 5th and lasted 70 days. Remus has attended 26 days and has therefore earned 37 percent of his financial aid (26 days divided by 70 days equals 37 percent).

Remus received in aid:

$1000 – Unsubsidized Federal Direct Stafford Loans

$3500 – Subsidized Federal Direct Stafford Loans

$4500 – Total aid received

  1. The amount of aid earned is 37% x $4500 = $1665
  2. The amount of unearned aid is: $4500 – $1665 = $2835
  3. Remus was charged $2500 in tuition. Percentage of his unearned aid is: 100% – 37% = 63%. Therefore, $2500 in tuition x 63% = $1575
  4. The amount Remus must return is the lesser amount of steps 2 and 3; therefore in this case it is $1575.
  5. Going by the order of funds to be returned, Remus would return first unsubsidized loans, and then subsidized, and finally Parent PLUS loans, until the total $1575 has been repaid.

Unsubsidized Federal Direct Stafford Loans: – $1000 – $1000 = $0

Subsidized Federal Direct Stafford Loans: – $3500 – $575   = $2925

Total Returned –  $1575

The total returned is the amount that will be billed to Remus’s student account from his aid.

Example II

Romulus withdrew from AUR on January 20th. The term he withdrew from began on January 5th and lasted 70 days. Romulus has attended 16 days and has therefore earned 23 percent of his financial aid (16 days divided by 70 days equals 23 percent).

Romulus received in aid:

$500 – Unsubsidized Federal Direct Stafford Loans

$4500 – Subsidized Federal Direct Stafford Loans

$5000 – Total aid received

  1. The amount of aid earned is 23% x $5000 = $1150.
  2. The amount of unearned aid is: $5000 – $1150 = $3850.
  3. Romulus was charged $1250 in tuition and $1000 in housing. Percentage of his unearned aid is: 100% – 23% = 77%. Therefore, $2250 x 77% = $1732.50.
  4. The amount Remus must return is the lesser amount of steps 2 and 3; therefore in this case it is $1732.50.
  5. Going by the order of funds to be returned, Romulus would return first unsubsidized loans, and then subsidized, and finally Parent PLUS loans, until the total $1732.50 has been repaid.

Unsubsidized Federal Direct Stafford Loans: $500   – $500 = $0

Subsidized Federal Direct Stafford Loans: $4500 – $1232.50 = $3267.50

Total Returned: $1732.50

The total returned is the amount that will be billed to Romulus’s student account from his aid.

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Students withdrawing from classes will be eligible for a tuition refund on the following basis:

  • Students who withdraw on or before the last weekday before the 1st day of classes will receive a 100% tuition refund.
  • Students who withdraw during the 1st week of classes will receive a 75% tuition refund.
  • Students who withdraw during the 2nd week of classes will receive a 25% tuition refund.
  • Students who withdraw during the 3rd week of classes or after will not receive a tuition refund