The federal government recently issued regulations outlining the requirements that Walsh College must follow if a student withdraws from all classes after receiving federal financial aid. The College's revised financial aid refund policy is listed below.
Here's what happens to your tuition charges if you drop all your classes:
- For course dropped through the eighth day of the semester the College will refund 100% of tuition. You will be responsible for the Registration/Technology fee as well as bookstore and any other charges.
- For courses dropped between the ninth and fourteenth day of the semester, the College will refund 50% of tuition. You will be responsible for the remaining 50% and the Registration/Technology fee as well as bookstore and any other charges.
- If you drop all courses after day 14, you will be responsible for all tuition and fee charges.
Here's what happens to your financial aid if you drop from all classes:
- If you drop all courses between days 1 and 8, the College will cancel all financial aid.
- If you drop all courses between days 9 and 14, Michigan Tuition Grants/Competitive Scholarships will be cancelled. Federal financial aid will be reduced by the percentage of the term not completed by the student. For example, if you attend 10% of the semester, we will be required to return 90% of your federal aid. Any Walsh College scholarships will be cancelled.
- If you withdraw from all courses after day 14, College scholarships and Michigan Tuition Grants/Competitive Scholarships will not be reduced. Federal financial aid will be reduced by the percentage of the term not completed by the student. For example, if you attend 40% of the semester, we will be required to return 60% of your federal aid.
If you wish to drop or withdraw from all classes, you should obtain and complete a Withdrawal Form from the Records Office at the Troy campus. This will start the withdrawal process. The form is also available on the Walsh College website as well as from the extension campuses.
The federal formula determines the amount of federal financial aid that must be returned to the federal government by the school and the student. The percentage of aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. Funds returned to the government by Walsh will be charged to your account and you will be responsible for those charges. If you have received a refund check prior to withdrawing from Walsh, you may be required to return a portion of those funds to the federal government.
If you have borrowed a student loan, you will begin your six month grace period.
It is your responsibility to check with Financial Aid to determine how a withdrawal from all classes will affect not only your financial aid, but also your satisfactory academic progress.
In addition to the Satisfactory Academic Progress process, students who quit attending class but do not officially withdraw are subject to an additional review. At the end of each semester, students who receive all failing grades will be reviewed to determine if they actually attended class. Federal regulations require Walsh to treat students who quit attending class as if they withdrew from all classes.
If it is determined that a financial aid recipient did not attend class, the aid disbursed for that term will be subject to a retroactive refund and their account charged just as if they completely withdrew from Walsh.