Any time courses are not completed, this can have a direct financial consequence. Not only does it amount to lost tuition, but it can also affect your eligibility to receive financial aid in the future.
Satisfactory Academic Progress
You must achieve satisfactory academic progress toward your degree in order to maintain eligibility for most types of financial aid. To maintain satisfactory academic progress, you must meet the following three components: grade point average, completion rate requirement, and maximum time frame for degree completion. Additionally, you must be eligible to continue in your program of study in order to receive financial aid. You also need to be aware of the impact incomplete grades, withdrawals, the absence of letter grades and the treatment of transfer credits will have on your financial aid status. You can find more information on the satisfactory academic progress website.
Official/Unofficial Withdrawals and Return of Title IV Funds
If you are receiving federal student aid (Title IV aid) and completely withdraw (all “W” grades) or receive all non-passing grades (F, I, W, X, UD, and UF) from your course(s) during a semester, federal regulations require schools to return any “unearned” Title IV aid for the period.
In order to earn 100% of your federal student aid, you must earn at least one passing grade and/or attend through 60% of the academic period in at least one course (Summer Policy - Click Here). If you failed to earn a passing grade, but were in attendance at an academically-related activity through 60% of the period, the Financial Aid Office will verify your last date of attendance with your course instructor(s).
Students on financial aid who do not finish all courses in a semester or who stop attending, are subject to having their paid financial aid returned in part to the government. This is known as Return of Title IV funds. In addition, students who cease a minimum of half-time enrollment will enter their grace period for their loans and can incur a balance to the University due to funds pulling back.