{"id":41,"date":"2016-02-17T14:04:19","date_gmt":"2016-02-17T19:04:19","guid":{"rendered":"https:\/\/www.umw.edu\/financialaid\/?page_id=41"},"modified":"2016-02-17T14:04:19","modified_gmt":"2016-02-17T19:04:19","slug":"withdrawal-or-leave","status":"publish","type":"page","link":"https:\/\/www.umw.edu\/financialaid-test\/process\/leaving\/withdrawal-or-leave\/","title":{"rendered":"Pre-Semester Withdrawal or Leave of Absence"},"content":{"rendered":"

Official withdrawals from academic courses occur through the UMW Office of the Registrar. If you are planning to withdraw from all courses in a semester, please contact the Office of the Registrar, at (540)654-1259 or registrar@umw.edu for full withdrawal procedures<\/a>.<\/p>

If the total course withdrawal takes place before the semester has begun, or if the student has taken a full-semester leave of absence, the estimated financial aid for that semester will be cancelled, therefore not applied to the student’s University account.<\/p>

Students must be enrolled at least half-time (undergraduate-6 credits, graduate 5 credits) to receive federal (excluding the Federal Pell grant), state, or institutional financial aid.<\/p>

Federal Direct Student Loans<\/h2>

Direct Loan Exit Counseling<\/h3>

Federal Loan Exit Counseling is required by the Federal regulation for all students that withdraw, graduate, or drop below half-time enrollment. It helps student’s understand their rights and responsibilities as a student loan borrower, and provides helpful tips to help students manage their loan repayment.<\/p>

Return of Federal Funds<\/h3>

Per federal regulation<\/a>, UMW is required to calculate the amount of federal funds that must be returned to the loan lender (U.S. Department of Education). This Return to Title 4 (R2T4)<\/a> calculation is based on the amount of days that the student was enrolled in the semester, as well as the students earned institutional charges.<\/p>

Grace Periods<\/a><\/h3>

In most cases, the grace period of a federal student loan is six months. This means that repayment will not begin until six months after graduation. One exception is the Federal Perkins Loan, which has a nine month grace period.  During the grace period, it is important to contact your federal loan servicer to choose the payment plan that fits your needs best.<\/p>

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