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CAUTION: Withdrawing from College Can Be Expensive!

If you’re thinking about withdrawing, it’s important to know all the facts and consider options like academic support services to help you successfully complete the semester. Reach out – we can help!

Below are some facts you should know before you withdraw completely from Herkimer College.

Things to Know About Withdrawing

From a financial aid point of view, it is NEVER a good idea to withdraw from the college!

Depending on the date that you withdraw, you could be charged all or a percentage of your tuition, fees, room and board. Depending on what type of financial aid you receive you could go through a process called Title IV Recalculation. If you receive funding through the Federal government programs known as Federal Subsidized Loans, Federal Unsubsidized Loans, Federal Plus Loans, Federal Pell Grants, and Federal Supplemental Education Opportunity Grants and withdraw completely from Herkimer College after attending classes, your awards are subject to the Title IV Recalculation.


Title IV Recalculation

So You Are Thinking About Withdrawing…

Here are some facts you should know before you withdraw completely from Herkimer College:

From a financial aid point of view, it is NEVER a good idea to withdraw from the college!

Depending on the date that you withdraw, you could be charged all or a percentage of your tuition, fees, room and board. Depending on what type of financial aid you receive, your aid may be reduced based upon your last date of attendance. If you receive funding through the federal government programs known as Direct Student Loans, Direct PLUS Loans, Pell Grants, and Supplemental Education Opportunity Grants and you withdraw completely from Herkimer College before attending over 60% of the semester’s classes, your awards are subject to the Title IV Recalculation.

What is Title IV Recalculation?

As part of Higher Education Amendments of 1998, Congress passed provisions governing what MUST happen to a student’s Federal financial aid if he/she is to completely withdraw from college. In general, the policy states that a student “earns” Federal financial aid awards directly in proportion to the number of days the student attends classes. If a student completely withdraws from school during a term, the school must calculate, according to a specific formula, the portion of the total Federal financial aid the student has earned up until the date of withdrawal. If the student receives more aid than the student earns, the unearned excess funds must be returned to the source from which they came.

In other words, you will probably owe a balance to Herkimer College which you will be required to pay out of pocket since your federal aid will be reduced.

What about Future Financial Aid Eligibility?

State Aid

If you were eligible for state aid (TAP, Part time Tap, or APTS) before withdrawing, you may still receive that funding for this semester. Your TAP award will be based on your tuition charge. Students who withdraw will lose their eligibility for a state award for the following semester. New York State requires that a student make academic progress towards a degree in each term for which an award is received. If you withdraw, you do not make academic progress.

Federal Financial Aid

You may also lose eligibility for federal financial aid for the following semester you are enrolled because of not making satisfactory academic progress during the term for which the aid was received.

Loan Repayment

Your federal Direct Student Loans will go into repayment status in six months from your withdrawal date, unless you have already used up your grace period. If you have already used the grace period, repayment will begin immediately.

Refunds

If you were issued a refund from the College prior to withdrawing, it is very possible that you will have to return some or all of that refund once the Title IV recalculation is completed. Above all, if you have questions about your financial aid status and are thinking about withdrawing, please stop by the Bursar’s Office BEFORE you withdraw.

What Happens When I Withdraw?

If you still want to withdraw, please contact the Bursar’s Office to initiate the process. Download the withdrawal form here.

Your withdrawal form will be reviewed by the Bursar’s Office, and Registrar’s Office.  Once the withdrawal is processed, the Bursar’s Office receives notification and begins the Title IV Recalculation. You will receive a letter from the Bursar's Office which will notify you of the impact of the Title IV Recalculation. You are required to follow up with the Bursar’s Office to make sure any balance due to Herkimer College is paid so that future registration is not slowed down, late fees do not accrue on your account, and to prevent your account from being referred to a collection agency.

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