This video provides training for MSU staff on modular withdrawals as they relate to federal financial aid. It reviews six scenarios and whether or not the student would have to return federal funds after withdrawing from a course.
There is a law that affects undergraduate students graduating at the end of fall semester and the amount of federal loans they are able to borrow. We refer to it as Loan Proration. Before you drop a class your final fall semester it is wise to educate yourself about Loan Proration to prevent a possible bill. This video discusses which scenarios may cause a bill.
This video briefly discusses the 3 different loan periods - or schedules - during which a student can borrow their annual federal student loan amount. To better understand this video it is recommended to watch our video on annual and aggregate loan limits first and this video second.
This video discusses scenarios in which a student is considered to be withdrawn for summer for financial aid purposes. When a student completely withdrawals for a semester MSU is required to calculate the percentage of financial aid the student is entilted to. This calculation is referred to as Return to Title IV Funds (R2T4). In some cases the student will need to repay the cancelled federal student aid immediately. Our goal is to inform students about this process to make enrollment decisions that wil prevent a bill that could create holds and delay their education.