Return of Funds When a Student Withdraws or Leaves School
Please notify Financial Aid in writing if you plan to withdraw or take a leave of absence from your program. In most cases, this enrollment change will impact your Federal student aid.
If you received Federal Title IV funds (including Federal Work-Study, and Stafford and Graduate PLUS Loans), you are subjected to the rules governing the return of funds in the event that you withdraw. When determining the amount you earned, UChicago will consider the number of days you were enrolled during the relevant quarter and the date you first indicated your intent to withdraw.
For the purposes of returning Title IV funds, the official withdrawal date from the university is the date when you first contacted a designated UChicago official in your area of study to discuss withdrawal. An official Intent to Withdraw Form will be completed at this point of contact. The following paragraphs will explain how the university determines the amount of Title IV assistance a student has earned and the amount that must be returned.
How UChicago Determines the Amount of Title IV Assistance to Return
The amount of Title IV funds you earn is in proportion to the length of time you were enrolled for the first 60% of the quarter. Title IV funds, relevant to graduate assistance at the university, are defined as Federal Stafford loans as well as the Federal TEACH grant. The length of time you’re enrolled is determined by subtracting the number of days you attended UChicago from the number of days in the enrollment period. The last day of attendance is determined by the date you begin the university’s withdrawal process.
If you fail to use the official withdrawal process, UChicago will use the last date you participated in an “academically related activity” (e.g. a lab, an exam, or the submission of an assignment) that can be confirmed by an employee of the school. If you leave without notifying the university, and a date when you last participated in an “academically related activity” cannot be established, the midpoint of the quarter will be considered the official last date of attendance for the purpose of returning unearned Title IV funds.
NOTE: The University will be responsible for determining their portion of the earned Title IV financial assistance as well as yours. Federal law specifies the order in which the funds are allocated. Title IV funds will be the first resource applied to tuition, fees, and room and board charges. These charges are the charges assessed prior to your withdrawal date and do not reflect the adjustment in charges that may have resulted from the University Tuition Refund Schedule.