Withdrawal Policy

Return of Title IV Financial Aid Funds

Withdrawals:
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.
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.

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.