Withdrawal Policy
Withdrawal Process:
Students withdrawing from the University are required to discharge all financial obligations to the University, return all University property, and file a written notification of withdrawal with the Registrar’s Office.Students should meet with a financial aid counselor prior to withdrawing in order to understand the financial impacts. Instructions for withdrawing from the University are published on the Registrar’s web site.
Return of Title IV Funds:
In accordance with Federal Regulations, the amount of Title IV aid a student has earned for the enrollment period is based on the length of time the student remains enrolled for that period. Therefore, the percentage of the enrollment period completed is also the percentage of aid the student has earned. The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges.
Students who withdraw on or before the 60% point of the term will have their federal financial aid eligibility calculated in direct proportion to the length of actual enrollment. A student who remains enrolled beyond the 60% point earns all aid for the period.
The responsibility to repay unearned aid is shared by the university and the student. The university’s share is the lesser of the total amount of unearned aid or institutional charges multiplied by the percentage of aid that was unearned. The student’s share is the difference between the total unearned amount and the university’s share. Any loan funds the student (or the parent, for a PLUS) is required to return shall be repaid in accordance with the terms of the promissory note.
The return of Federal Title IV funds will be in the following order:
1. Federal Direct Unsubsidized Stafford Loan
2. Federal Direct Subsidized Stafford Loan
3. Federal Perkins Loan
4. Federal PLUS Loan / Federal Graduate PLUS Loan
5. Federal Pell Grant
6. Academic Competitiveness Grant
7. National SMART Grant
8. Federal Supplemental Educational Opportunity Grant (FSEOG)
9. Federal TEACH Grant
A student may be eligible for a post-withdrawal disbursement of federal financial aid if the return of funds calculation indicates that the student earned more aid than was disbursed prior to the student’s withdrawal. Post-withdrawal disbursements will be credited toward unpaid institutional charges, with any remaining excess portion offered as a disbursement to the student. Students must accept a post-withdrawal disbursement within 14 days of the offer. If a response is not received or if the offer is declined, these excess funds will be cancelled and/or returned to the appropriate aid program.
Return of Non-Title IV Funds:
The university will calculate return of non-Title IV funds in accordance with the appropriate state and institutional refund policy. Massachusetts state funds are calculated based on the Massachusetts Office of Student Financial Assistance (OSFA) policy guidelines.
Institutional funds will be returned on a case-by-case basis following appropriate administrator review of aid earned and balance due. Aid required to be returned to the program from which the funds originated will be made in the following order: federal, state, institutional and external.
Note:The information contained in this section is subject to change, without notice, in order to comply with federal, state, or university requirements.
Policy Guidelines:
The University of Massachusetts Lowell is required by Federal Law to determine the earned and unearned Title IV aid a student has earned as of the date the student ceased attendance based on the amount of time the student spent in attendance. The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges. The amount of aid earned is determined on a pro-rata basis. Once the student has completed more than 60 percent of the payment period or period of enrollment, they earn all of their assistance. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned. The University and the student share in the return of the funds. The University’s share is the lesser amount of the institutional charges multiplied by the unearned percentage of the funds or the entire amount of the excess funds. Any loan funds that the student must return, the student (or the parent for a PLUS Loan) repay in accordance with the terms of the promissory note. If the amount disbursed to the student is less than the amount the student earned and for which the student is other wise eligible, he or she is eligible to receive a post-withdrawal disbursement of the earned aid that was not received. Post-withdrawal disbursements will be credited first toward unpaid institutional charges. Any portion of the post-withdrawal disbursement that exceeds unpaid institutional charges will be offered to the student who must accept this disbursement within 14 days of the offer. If a response is not received or if the offer is declined, these excess funds will be returned to the appropriate Title IV program.
Details for Graduate Students
Graduate students, withdrawing from the University, must obtain the appropriate signatures on the withdrawal clearance form and submit it to the Graduate School to ensure that academic and financial obligations are cleared before leaving the University.
Details for Undergraduate Students
Undergraduate students withdrawing from the University are required to discharge all financial obligations to the University, return all University property, and file a written notification of withdrawal with the Registrar’s Office.