GUIDELINES REGARDING LEAVES, WITHDRAWALS, AND ATTENDANCE

Enrollment & Attendance

You must notify the Financial Aid Office of any of the following as it could reduce or cancel student aid eligibility:

·         Changes to the course schedule or enrollment. Changes in enrollment include and are not limited to withdrawals and leaves of absences.

·         Adding or dropping courses after being awarded aid.  This could result in your owing a balance to HTS or the federal government.

·         Breaks in attendance of more than three (3) consecutive days on Track I.

·         Breaks in attendance of more than two (2) consecutive weeks on Track II.

·         Breaks in attendance without requested approval could result in immediate reduction or loss of financial aid eligibility.

 

Leave of Absence

Withdrawal from all classes requires that a student make this known by the use of an official withdrawal form obtained from the Registrar’s Office.  All aid (institutional and federal) will be cancelled when a student ceases to be enrolled.

 

Repayment of Unearned Financial Aid Assistance

Students who received a refund from financial aid before taking a leave of absence or withdrawing from the Seminary may owe a repayment of federal or institutional aid funds. Students will be notified by the Business Office and will be given an opportunity to repay the funds to the Seminary.  Students who fail to return the unearned portion of federal financial aid funds given to them will have a “HOLD” place on their Seminary records and will no longer be eligible for federal or institutional student aid.   

 

Return of Title IV Funds Formula

A student’s resignation and tuition charges will be adjusted in accordance with the official federal “Return of Title IV Aid” formula.  The federal formula is applicable to any student receiving federal aid who withdraws from the Seminary during the first 60% of a term.  These students will have their federal aid adjusted based on the percent of the term completed.  Basically, students will be entitled to retain the same percent of the federal aid received as the percent of term completed.  This percent is calculated by dividing the number of days in the term (excluding breaks of five days or longer) into the number of days completed prior to the withdrawal (excluding breaks of five days or longer). 

 

How Remaining Refunds are Distributed

If any refund remains after the required return of the Title IV aid, the refund will be used to repay Hood Theological Seminary and the student. This will be distributed in proportion to the amount paid by each non-federal source, as long as there was no unpaid balance due at the time of withdrawal.  If there is an unpaid balance, then all aid sources will be repaid before any refund is paid to the student.

 

Distribution Policy

Once the amount of the funds to be returned has been calculated, the funds will be returned to the appropriate programs:

1. Unsubsidized Direct Loans

2. Graduate Plus Loans

3.  Scholarship Accounts