Federal financial aid funds (Title IV) and New Jersey grants and scholarships are awarded to a student under the assumption that the student will attend school for the entire period (i.e., one term) for which the assistance is awarded. When a student withdraws before completing the term, the student may no longer be eligible for the full amount of the financial aid that the student was originally scheduled to receive.
If a recipient of Title IV grant or loan funds withdraws from school after beginning attendance, the amount of Title IV grant or loan assistance earned by the student must be determined on a pro-rata basis. For example, if a student completes 30 percent of the term she or he earned 30 percent of the assistance originally awarded. The balance of aid, 70 percent, is unearned and must be returned. Once a student has completed more than 60 percent of the term, she or he earns all of the assistance originally awarded.
New Jersey financial aid programs base the amount to be returned on the university`s refund policy (see above). The amount returned is equal to the tuition refund percentage.
For additional information, visit the Office of Financial Aid web site at www.studentaid.rutgers.edu. Students are encouraged to meet with a financial aid counselor before withdrawing to discuss the refund procedure.
