Repayment of Financial Aid After Withdrawal

Students withdrawing from Lakeland University may be required to repay some of the federal, state, and Lakeland grants and/or loans. The federal formula requires a return of Title IV aid if the student received federal financial assistance in the form of a Pell Grant, a Supplemental Educational Opportunity Grant (SEOG), a Talent Incentive Program Grant (TIP), a Parent Loans for Undergraduate Students (PLUS), or a Federal Stafford Direct Student Loan and withdrew on or before completing 60% of the semester. The percentage of Title IV 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. Scheduled breaks of more than four consecutive days are excluded.

If any funds remain after the return of Title IV aid, they will be used to repay Lakeland University funds, state funds, other private sources and the student in proportion to the amount received from each non-federal source as long as there is no unpaid balance at the time of withdrawal. If there is an unpaid balance, then all aid sources will be repaid before any funds are returned to the student.

The order of return of funds is: Unsubsidized Direct Loans (other than the Direct PLUS loans), Subsidized Direct Loans, Federal Perkins Loans, Direct PLUS Loans, Federal Pell grants for which a Return is required, FSEOG for which a return of funds is required, TEACH Grants for which a Return is required, Iraq and Afghanistan Service Grant, for which a Return is required.