Withdrawing From All Classes

Financial Aid Q&A for Students Who Are Withdrawing From All Classes

 

Q:  What happens to my financial aid if I drop all of my classes?

A: If you drop all of your classes mid-semester you may be required to repay some of your financial aid depending on the date of your withdrawal. For information on WSU’s refund policy.

To discuss your individual situation, you may contact:

Student Accounts Office
2nd floor Maxwell Hall
(507) 457-5682

 

Q:  Can I get my aid back if I return to WSU next semester?

A:  Aid that has already been awarded to you for the next semester, or aid that you are applying for in a new academic year will be available to you as long as you meet WSU’s Satisfactory Academic Progress for Financial Aid requirements.

 

Q:  When do I start paying back my student loans? How do I find out about this?

A:  Check with your lender or review the terms of your promissory notes for each type of loan that you have to see when you must start repaying your loan.
For example, Federal Direct Loans go into repayment status six months after you withdraw or cease being a half time student. WSU will send you a notice regarding your obligation to complete online exit counseling if you have borrowed from a Federal Stafford or Direct Loan. The exit counseling information provides you with details of your rights and responsibilities.

WSU forwards enrollment information to a national clearinghouse used by lenders to track when students should go into repayment, but you are suppose to notify your lender of your change in enrollment so you can learn about your repayment status.

 

Q:  How do I switch my financial aid to my new school if I am transferring?

A:  Your new school needs to receive your Free Application for Federal Student Aid (FAFSA) so that they can evaluate your eligibility for aid and award you as a transfer student at their school.

If you filed your FAFSA online you can request an additional school to receive your FAFSA online at: http://www.fafsa.ed.gov/.

To make your request, you can also call: 1.800.433.3243.

Consortium