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Students who withdraw from Bloomsburg University prior to the end of the fifth week of the semester may be due a refund of money paid to the university. This refund policy has been established in accordance with regulations governing the State System of Higher Education. A copy of this policy is emailed to students at their BU email account and is also available upon request from the Bloomsburg University Bursar Office.
If a student receives financial aid funds from the Federal Title IV Aid Programs and the student withdraws from Bloomsburg University, a portion of these funds may need to be returned to the federal government as follows:
- If a student withdraws before completing 60 percent of the semester, the student is only entitled to financial aid based on the percentage of time that was completed.
- A student who withdraws from the university after 60 percent of the semester has been completed is entitled to 100 percent of the federal financial aid that was awarded to the student.
- The student should note that PHEAA may still require a reduction of the PHEAA State Grant if a student's charges are reduced as a result of a withdrawal from one or more classes or a complete withdrawal from Bloomsburg University.
- If a student who has borrowed from the Federal Direct Student Loan or Federal Perkins Loan programs withdraws from BU, the student must repay these loans according to the terms of the promissory note.
- Financial aid funds that must be returned as a result of a withdrawal must be done in the following order:
- Federal Unsubsidized Direct Student Loan
- Federal Subsidized Direct Student Loan
- Federal Perkins Loan
- Federal Direct PLUS Loan
- Federal Pell Grant
- Federal SEOG Grant
- Iraq Afghanistan Service Grant
- Federal Work-Study Program Funds are not subject to these refund provisions.
- If federal financial aid funds have already been credited to the student's account and the student withdraws from Bloomsburg University before completing the time needed to "earn the financial aid", these funds may be withdrawn from the student's account, thus leaving an outstanding balance to the university.
- If financial aid funds are given to a student to be used for non-institutional costs of education (i.e. an off-campus apartment, food, books, etc.), a portion of these funds may also need to be returned to satisfy the overpayment.
- Any student receiving federal financial aid who is contemplating withdrawal from the university should contact financial aid or the business office to see how the federal refund policy governing financial aid will affect them.
An example of the Return to Title IV (R2T4) formula follows:
If the semester contains 100 days and the student withdraws from Bloomsburg University on the 56 day of the semester, a R2T4 calculation is necessary because the student did not complete at least 60% of the semester. Because the withdrawal takes place after Bloomsburg University’s refund period, tuition and fees are not adjusted. If in this example a student receives payment of a $1000 Pell Grant and $2500 Direct Student Loan, the student has earned only 56% of these funds or $1960 (.56 x $3500). The remaining funds must be returned to the federal program based on the above distribution sequence. The calculation may require repayment of these funds by the school, the student, or by both. If funds are removed from the student’s account and returned to Title IV, the student may have an outstanding balance at Bloomsburg University.
Students who received Federal Financial Aid funds and fail to earn a passing grade in any course will be reviewed at the end of the semester. If it is determined that a student failed to complete at least 60% of the semester as evidenced by class attendance, completion of a test or quiz or some other academic exercise, financial aid will be reduced in proportion to the amount of the semester that was actually completed. If a student began the semester and a last date of enrollment cannot be determined because of an unofficial withdrawal, return of financial aid will be calculated at the 50% rate. If a student did not begin the semester all federal financial aid funds disbursed to the student’s account or directly to the student will be returned.
In addition, students who withdraw from a course or the university should review the satisfactory progress policy as to what affect this may have on future financial aid eligiblity.