Financial Aid and Leave of Absence
Number of days attended are divided by number of days in the term to determine the percentage of financial aid that is earned. Earned aid is not returned, while the unearned aid is. Also, if a student withdraws after the 60 percent point of the term, students do not have to return any of the funds. While on a leave of absence, students may be able to postpone repayment by obtaining a deferment or forbearance from their loan servicer as a result of unemployment or economic hardship. Otherwise, payment is required after a 6-month grace period. Note that only one grace period is allowed per loan, so the student would not receive another grace period after graduation.