If you are withdrawing from school and have received federal or state financial aid:¬†
Provisions governing the return of financial aid funds when a student officially or unofficially withdraws:
¬†Special rules apply when students withdraw after receiving student financial aid (SFA) for the term from any of the following programs:
These rules are federally mandated. Before The University of Mississippi can calculate any tuition/fee refunds to a student under the institutional refund policy (see the academic calendar in this publication for this policy, which is administered by the Bursar‚Äôs Office), the Office of Financial Aid must determine whether any financial aid funds should be paid back.
Number of calendar days completed in the term as of the date of withdrawal / Total number of calendar days in the term
The university must return the lesser of (1) the amount of SFA not earned or (2) the institutional costs (tuition, housing, etc.) that the student incurred multiplied by the percentage of SFA not earned.
The student (or parent, in the case of a PLUS loan) must repay the amount of unearned SFA remaining after the university has returned its share.
Unearned funds are first applied (paid back) to any Title IV loans borrowed during the term. As stipulated by federal regulations, funds are returned in the following order:
When the school must return loan funds to the lender on the student‚Äôs behalf (or parent‚Äôs, in the case of a PLUS loan), the student‚Äôs bursar account will be charged for this amount. When the federal calculation determines, instead, that it is the student‚Äôs (or parent‚Äôs) responsibility to return funds directly to the lender, the earned Title IV loan funds are repaid in accordance with the terms of the loan.
If unearned funds remain after all loans have been repaid, the remaining unearned funds must be credited to Title IV programs in the following order:
When the school must return grant funds on the student‚Äôs behalf, the student‚Äôs bursar account will be charged for this amount. When the responsibility for repaying funds to the Title IV grant programs falls to the student, the student is required to return only 50 percent of the grant repayment as calculated using the federal formula. Grant overpayments may be collected according to arrangements satisfactory to the school, or by overpayment collection procedures prescribed by the Department of Education.
For withdrawals during the University‚Äôs refund period (during which tuition/fee refunds may apply), institutional aid that has credited to the student account must be repaid in full.¬†Please refer to the Academic Calendar for the appropriate dates.
A student can withdraw from the university during the course of a semester or summer term through myOleMiss or they can provide written notification either via fax, mail or in person to the Office of the Registrar. Detailed information about the withdrawal process is provided in the Undergraduate Catalog. All students should be aware that withdrawing (either officially or unofficially) can adversely affect scholarships and grants (Academic Excellence, MTAG, etc.) for the next term of attendance.¬†The Office of Financial Aid can provide guidance in those cases.¬† Refund, repayment and withdrawal policies are subject to change, without notice, in order to comply with administrative and regulatory requirements.
‚ÄúUnofficial withdrawals‚ÄĚ are defined as those students who simply stopped attending classes.¬† These students never went through a formal process to withdraw, but did not complete the period of attendance on which their federal aid eligibility was based.¬† As noted in the Federal Student Financial Aid Handbook, the Department of Education mandates that universities develop a mechanism for determining whether a student who is a recipient of Title IV grant or loan funds has ceased attendance without notification during the period of enrollment.¬†
A student must maintain continuous enrollment of not less than two semesters or three trimesters in each successive academic year unless granted an exception for cause. Examples of exceptions for cause may include personal injury or death of an immediate family member, participation in a cooperative program, internship or foreign study program. If a recipient fails to maintain continuous enrollment, unless granted an exception for cause, that student is ineligible to receive funds during the next semester or trimester of full-time enrollment of a regular academic year.