Dropping or withdrawing from classes can affect both your financial aid eligibility and your award amount.
When you drop a course during the add/drop period, your financial aid eligibility for the current term would be revised to reflect the exclusion of the dropped course. Depending on how many remaining credits you have and what type of aid you have been awarded, your awards may be reduced. You would receive a revised award notification if this was the case.
Your financial aid eligibility for the current term would be canceled entirely.
If you are receiving grants, and you still have one or more remaining courses, your financial aid eligibility for the current term would not change.
If you are receiving loans, you would only remain eligible for your loan disbursement provided you are still registered for at least six credits (half-time). If your enrollment level drops below half-time status before your loan disbursement has been applied to your account, you would not be eligible for your loan disbursement and it would be canceled. In certain circumstances, the College would be entitled to accept the amount of your loan disbursement that equals the balance due on your student account. Any remaining amount would be returned to your lender and would reduce the amount of the principal balance borrowed.
Keep in mind that if you are not maintaining half-time status, you would enter your grace period for repayment of any outstanding loan balance and would be sent an Exit Interview packet from the Financial Aid Office. Once you resumed half-time status, your loans could once again be deferred.
If you are receiving VGAP, CSAP, or PTAP, your eligibility for those grants would not change for that semester.
If you are receiving COMA or any type of federal aid (PELL, SEOG, or Federal Stafford Loans), a portion of your financial aid would be considered as unearned. As a result, you would then owe repayments to the U.S. Department of Education and to the College. You would be notified of the amounts you were responsible for repaying, and would be given a 45-day period to make repayment. If the amount owed to the federal government was not repaid within the given timeframe, this amount would be referred to the U.S. Department of Education as a federal liability. You would not regain eligibility for financial aid at any college or university in the United States until this federal overpayment was satisfied. Meanwhile, until the amount owed to the College was repaid, future enrollment at the institution would be denied. Your original award notice included detailed information regarding the effect of withdrawals on your financial aid eligibility.
As stated above, if you do not satisfy a federal overpayment, you would be reported to the U.S. Department of Education and would be ineligible for financial aid at any college or university until the debt was satisfied. Any outstanding balance due to the College would also need to be satisfied before you could enroll again at Virginia Western Community College, and before any other future services would be rendered.
It is extremely important that you realize that all types of withdrawals can damage your pursuit of satisfactory academic progress. Although withdrawals may not be negative on your academic record, they are considered negative for financial aid purposes. Withdrawals are considered courses attempted, but not completed successfully. Therefore, according to our Satisfactory Academic Progress (SAP) policy, withdrawals would count against you in the evaluation of the Completion Rate (67% rule) and the Maximum Time (150% rule) standards for SAP.
It is extremely important that you carefully read the above information in order to become fully aware of the implications of withdrawal. You may also meet with a financial aid representative to further discuss your options and any of the information provided here.
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