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Aid recipients who withdraw from Mount St. Mary's University mid-semester will have their financial aid package reviewed and very well may have their aid eligibility reduced. This review will include separate calculations for institutional and Federal aid programs. In all cases, the date of withdraw is determined by the Dean of Academic Services, and the Financial Aid Office will calculate any necessary adjustments to the aid.
Institutional Aid
Institutional aid (Mount scholarships and grants) will be pro-rated the same percentages as the student's tuition charges established by the Accounting & Finance Office. Therefore,
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if a student withdraws:
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financial aid will be reduced:
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| before the end of the first week of classes |
100% |
| before the end of the second week of classes |
80% |
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before the end of the third week of classes
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60% |
| before the end of the fourth week of classes |
40% |
| before the end of the fifth week of classes |
20% |
| after the fifth week of classes |
0% |
Federal Aid
The Federal Refund Policy will be used to determine if any federal aid (Pell Grant, SEOG, Perkins Loan, Stafford Loan, PLUS Loan) needs to be returned. This policy calculates how much of a student's Federal aid is "earned" by how many days of the semester the student was enrolled, i.e., if a student withdraws after 30 calendar days and the semester is 105 calendar days long, the student earned 28.6% (30/105) of the aid. The remainder of the aid would be returned to the Federal programs. Students should be aware of the following regarding the Federal Refund Policy:
- For the purposes of calculating calendar days, all days (including weekends) are counted, except when the University is on at least a four-day break (Fall Break and Thanksgiving in the fall semester and Spring Break and Easter in the spring).
- Any student who withdraws after completing 60% of the semester is entitled to keep all Federal aid.
- The Federal Policy takes precedence over the Mount's institutional refund policy. In some instances, this means a student whose account is paid in full may end up owing the University money that had to be sent back to the Federal Aid Program.
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