Financial Aid Policies

For students who receive aid & drop all their classes, return of Title IV funds to the Department of Education proceeds as follows:

If you receive a GRANT and then WITHDRAW from all your classes, you may OWE money back to the federal program.

A student’s withdrawal date for the purpose of calculating repayment will be one of the following, as applicable:

  • The date the student provides notification to the Enrollment Services Office of his/her intent to withdraw, either in writing (drop card) or online via the MyCOM Student Portal

  • The midpoint of the semester for students who do not officially withdraw

  • The date posted by the instructor indicating the student’s last date of class attendance

The Enrollment Services Office will identify all students who completely withdraw on a weekly basis through the 60% completion point in the semester. According to the day you withdraw, the Enrollment Services Office will calculate the part of the grant that was “earned” and the part of the grant that was “unearned.” The Enrollment Services Office will then calculate the amount of aid owed back, according to the federal regulations.

If students withdraw after they have earned 60% of their grant, they do not owe any repayment.

Students will be billed for the amount of federal aid they are required to repay. If a student fails to repay the debt due, the student will be reported to the Department of Education. Students owing a grant repayment are not eligible for any federal financial aid until the debt is repaid. This includes all schools, nationwide.

If you receive LOAN money and withdraw, then you must pay back the money according to the normal rules of the loan program.

If you receive Work-Study funds and withdraw, you do not owe anything back.

Students thinking of leaving and/or withdrawing should first visit the Financial Aid Office to discuss their academic or personal reasons for leaving. There may be services available for emergency situations.

Students may want to consider staying and taking fewer courses or utilizing support services (like tutoring, or personal support). Students should also talk to an academic counselor and see what advice and help they can provide.

Additional Policies and Resources