If the amount of grants and loans the student earned is greater than the total amount of grant/loan assistance that was disbursed to the student, or to the parent on the student’s behalf, the difference must be treated as a post-withdrawal disbursement (PWD).
Within 30 days of the date the College determined the student withdrew, a written notification will be sent to the student/parent to include the following:
- Identify the type and amount of aid eligible for/included in the post withdrawal disbursement.
- Explain that all or any portion of the disbursement may be accepted or declined.
- Inform the student or parent that no post-withdrawal disbursement of a federal loan will be made to the student or parent (or to the student’s account) without confirmation of acceptance of the disbursement.
- Request a response indicating acceptance (or decline) of a federal loan disbursement; this must be received within 14 days of the date the notification was mailed to the student/parent. If no response is received within 14 days or a response is received after the 14-day deadline, no post-withdrawal disbursement of federal loan funds will be made.
- Inform the student or parent of the procedures for requesting/receiving the accepted post-withdrawal loan disbursement and that such a disbursement may be credited to the student’s account to pay institutional charges, if applicable, or disbursed directly to the student, or parent, if funds are from a PLUS Loan. The 14-day response deadline applies regardless of whether the disbursement will be to the student’s account to pay institutional charges or a direct disbursement to the student/parent.
- Inform the student or parent that accepted post-withdrawal federal loan funds must be repaid in accordance with the terms and conditions of the loan.
If a student is eligible for a post-withdrawal disbursement, funds may be credited to the student’s account up to the amount of unpaid institutional charges, if applicable; remaining funds will be refunded directly to the student (or parent, if funds are from a Federal PLUS Loan). The direct disbursement will be mailed to the student or parent to the address on file:
- Available grant funds will be disbursed first as soon as possible but no later than 45 days of the date of the institution’s determination the student withdrew.
- Any remaining eligible post-withdrawal disbursement will be made from requested/accepted federal loan funds as soon as possible but no later than 180 days of the date of the institution’s determination the student withdrew; the disbursement will be made in accordance with the student’s or parent’s wishes as identified in the confirmation/acceptance of the post-withdrawal disbursement of loan funds.
Copies of all communication to the student/parent, response(s) from the student/parent, R2T4 calculations, disbursements and/or returns of aid, etc. generated by or received by the Bellin College financial aid office will be placed in the student’s file.