Students who withdraw from the university after the start of the term must complete a Withdrawal Form through the Registrar's Office and contact the Office of Financial Aid and Scholarships. If financial aid funds were used to pay tuition and fees, and a student withdraws, any refundable tuition amount is returned to the appropriate financial aid sources (refer to the tuition/fee refund schedule in the OSU Schedule of Classes).
Return of Title IV Funds and Withdrawal Record
OSU is required to calculate the return of Title IV financial aid funds for students that officially or unofficially withdraw during the academic term. Students who do not intend to complete the term for which they are enrolled should follow the official withdrawal process as outlined by university regulations. This calculation determines the amount of aid funds that must be returned by the institution as well as how much aid the student must return for the period of nonenrollment. If a return of aid amount is calculated, the funds must be repaid to the financial aid programs in the following order:
- Federal Direct Unsubsidized Ford Loan
- Federal Direct Ford Loans
- Federal Perkins Loan
- Federal Direct PLUS Loan
- Federal Pell Grant
The amount of federal aid that you must repay is determined via the Federal Formula for Return of Title IV funds (Section 484B of the Higher Education Act). This law also specifies the order in which funds are to be returned to the financial aid programs from which they were awarded, starting with loan programs.
- You may be required to make a repayment when cash has been disbursed from financial aid funds, in excess of the amount of aid that you earned (based on the date of your total withdrawal) during the term. The amount of Title IV aid earned is determined by multiplying the total Title IV aid (other than FWS) for which you qualified by the percentage of time during the term that you were enrolled.
- If less aid was disbursed than was earned, you will be notified about your eligibility for a late disbursement for the difference.
- If more aid was disbursed than was earned, the amount of Title IV aid that you must return (i.e. not earned) is determined by subtracting the earned amount from the amount actually disbursed.
The responsibility for returning unearned Title IV aid is shared between the University and you. It is allocated according to the portion of disbursed aid that could have been used to cover University charges, and the portion that could have been disbursed directly to you once those charges were covered. OSU will distribute the unearned aid back to the Title IV programs, as specified by law. You will be notified if you owe a repayment due to an official/unofficial withdrawal within 45 days of the date the determination of the withdrawal is made.
You will be billed for the amount that you owe to the Title IV programs, as well as any amount due to the University, as a result of Title IV funds that were returned that would have been used to cover University charges.