The Process—General
- Student notifies the Registrar that he/she is withdrawing from the college. The Registrar provides the student with a withdrawal form.
- The student follows the instructions on the form to obtain the necessary signatures indicating compliance with requirements, and returns the form to the Registrar.
- The Registrar gives a copy of the completed withdrawal form to the Financial Aid Office immediately upon receipt from the student.
- The Financial Aid Office calculates the amount of funds to be returned.
- The Financial Aid Office notifies the student and the Business Office of funds that the College must return, and the amount that the student must return.
- The Financial Aid Office returns its share of unearned Federal Title IV funds within 45 days after it determines that the student withdrawal process is complete. The student must repay his/her share either by paying loans in accordance with the terms and conditions of the promissory note or (2) repaying grants directly or under a payment arrangement through the College (not required by the College).
Note: In addition to calculating a return of Federal Title IV funds for students who notify Carroll of withdrawal, Carroll must also make the calculation for students who do not “officially” withdraw. Return of Title IV Calculations are based on the official and the unofficial last date of attendance as determined by the school. The Financial Aid Office reviews final semester grades to determine students with all “F” grades followed by attempts to determine if the student withdrew from all classes. If so, the last date of academically related attendance is obtained. To facilitate the process, faculty instructors are required to indicate last date of attendance for all students awarded an “F” grade. Charges are not adjusted for unofficial withdrawals; therefore, institutional aid is not adjusted. Federal aid is adjusted based on Federal Title IV return of funds calculations.