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Complete Withdrawal = Payback of Federal Money
Any student that does a complete withdrawal from classes, and receives a Pell Grant, SEOG Grant, Perkins Loan, Subsidized Stafford Loan, Unsubsidized Stafford or a Parent PLUS Loan will be required to pay several hundred dollars back to the federal government immediately if they drop out of school before 60% of the semester has been completed. This law is called Return of Title IV Funds.
In essence, the Return of Title IV Funds works like this: If you drop out before the 60% point of a semester, you owe back all the tuition charges covering the balance of the term. So a student who completely withdraws after 25% of the semester owes 75% of their original tuition charges back to the government immediately! You will pay this money to the SOSU Business Office, who sends it to the federal government on your behalf. (Remember, this applies only to complete withdrawals, not partial withdrawals.)
Students who drop after 60% of the semester has passed do not owe immediate paybacks at all!
Southeastern will NOT automatically cancel a student’s Enrollment for nonpayment of tuition and fees.
Once you have enrolled you must officially withdraw from classes in person or in writing.
Complete withdrawal from the institution is the sole responsibility of each student.
So, Remember, we want you to stay in school the entire year, but if something unexpected were to happen, timing could mean the difference in having to pay funds back to the federal government.
Spring 2008
The chart below gives an example of what payback is due for different withdrawal dates.
| Date of Withdrawal | % of Term Completed | Total Payback Due |
|---|---|---|
| February 8, 2008 | 25.41% | 74.59% of funds received |
| March 24, 2008 | 62.30% | 00.00%** |
**Withdraw after 60% and no payback required
Fall 2007
The chart below gives an example of what payback is due for different withdrawal dates.
| Date of Withdrawal | % of Term Completed | Total Payback Due |
|---|---|---|
| September 4, 2007 | 14.28% | 85.72% of funds received |
| October 26, 2007 | 60.7% | 00.00%** |
**Withdraw after 60% and no payback required
Summer 2007
The chart below gives an example of what payback is due for different withdrawal dates.
| Date of Withdrawal | % of Term Completed | Total Payback Due |
|---|---|---|
| June 15, 2007 | 26.32% | 73.68% of funds received |
| July 5, 2007 | 61.40% | 00.00%** |
**Withdraw after 60% and no payback required
