Effects of Withdrawal
Title IV Recalculation
So You’re Thinking About Withdrawing…
Here are some facts you should know before you withdraw completely from Herkimer County Community 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 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, Academic Competitiveness Grant, and Federal
Supplemental Education Opportunity Grants and withdraw completely from HCCC after attending 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 new 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 end up with a balance due to the college which you will be required to pay out of pocket.
What about Future Financial Aid Eligibility?
TAP
If you were a full-time student and TAP eligible before withdrawing, you may still receive that funding for this semester. But you will lose your eligibility for a TAP 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. This applies to undergraduate and graduate students.
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 student loans will go into repayment status in six months (Direct Loans) 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, you need to go to the Counseling Center to initiate the process. After that is done, the
Bursar’s Office receives notification and begins the Title IV Recalculation process. You will receive from the
Bursar’s Office a letter which will notify you of the impact of the Title IV Recalculation. You are required to follow
up with the Bursars’ Office to make sure any balance that is due 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.