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. Any existing credit balance on a student’s account will not be disbursed until after the R2T4 calculation is performed. The result of the R2T4 calculation may result in payment to Carroll College for unpaid institutional charges after the R2T4 or other refund calculations are performed. A student may receive a credit balance within 14 days of the R2T4 calculation.
- The Financial Aid Office within 30 days, notifies the student and the Business Office in writing (letter/email) of funds that the College must return, and the amount that the student must return.
- The Business Office returns its share of unearned Federal Title IV funds within 45 days after it determines that the student's 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).
IMPORTANT - MODULES: The rules surrounding withdrawal and modules (example: summer term) are slightly different. Students enrolled in modules are held accountable for attending the number of days in the modules in which they are enrolled. For example, if the student enrolls in modules one and three within a semester, only the days in modules one and three will be considered when calculating the percentage of the semester completed. The timing of a dropped class in the modular programs is also important. If a student drops courses in a later module while still enrolled in a current module within a semester, the student is not considered to be withdrawn. However, a recalculation of financial aid eligibility based on the change in enrollment status (full-time, three-quarter time, half-time) may still be required. If a student ceases enrollment in a current module, but plans to attend a later module within the same semester, the student must notify the Financial Aid Office in writing within 14 days of their plans to attend the later module to avoid being considered a withdraw for the purposes of this calculation. If written notification is not received within the required timeframes, the student is considered to have withdrawn and the return of funds calculation is completed. If, however, the student does continue to attend in a later module within the same semester, even if they failed to notify the Office of Financial Aid that they would, prior calculations due to non-communication are reversed. Exceptions include if the student completes all requirements for graduation before completing the days scheduled to complete in the period or the student completes one or more modules that comprise 49% or more of the number of days in the payment period or at least half-time enrollment.
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” and/or "W" grades followed by attempts to determine if the student withdrew from all classes. If so, the last date of academically related attendance is obtained and the later of an "F" or "W" is used. 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.