Southern Adventist University is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of the payment period or period of enrollment. ALL Title IV financial aid programs must be recalculated in these situations.
The calculation is made for all federal financial aid recipients to determine whether a student who completely withdraws during a term has "earned" the monies disbursed. A student "earns" his/her aid based on the period of time they remain enrolled. During the first 60% of the term, a student "earns" student aid funds in direct proportion to the length of time he/she remains enrolled. After the 60% point in the payment period or period of enrollment, a student has earned 100% of the Title IV funds, he/she was scheduled to receive during the period. Any aid received in excess of the earned amount is considered unearned. If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student may also be required to return a portion of the funds.
This policy also applies to students who receive federal funds and receive all F grades for ceasing to attend classes. The Records and Advisement Office will determine the last day of class attendance.
This policy does not apply to those students who cancel their registration prior to the first day of classes nor does this policy apply to students who drop some but not all of their classes. In these particular cases, the Student Finance Office may have to recalculate the award based on the student's revised enrollment status.