Financial Aid at Risk
Consult with both a One Stop counselor and your academic adviser before you reduce your credit load. Your aid awards are often based on your credit load, so reducing your enrollment could change the amount of aid you are qualified to receive from certain programs. Canceling even one class could mean losing all or part of your financial aid eligibility. You could be billed for any financial aid you received for which you are no longer eligible.
Enrollment & grading options
If you are an undergraduate, you must maintain a minimum current registration of 6 credits (half-time status) to qualify for federal loans. Some federal, state, and University financial aid programs require full-time status. See enrollment criteria and Satisfactory Academic Progress (SAP) for financial aid recipients for more details.
The effect on your financial aid will depend on when you withdraw and the type of aid you receive. For example, withdrawing from class after the first two weeks of the term may not impact your financial aid as severely as canceling before the end of the second week. Consult with a One Stop counselor before you withdraw to determine the impact, if any, on your financial aid, tuition, and/or fees.
You may also work with your instructor to get an "I" (incomplete) in a course and complete the work at a later date, an alternate option to withdrawing. If an instructor agrees to give you an incomplete, both of you must sign a written agreement that specifies what work you will complete and the completion date.
Financial aid repayment
You may be required to return all or a portion of financial aid disbursed to you for which you no longer qualified or have not "earned," according to federal criteria. In most cases, you will be notified of the repayment amount when it appears as a charge to your student account as part of the balance due. You will be held responsible for any charges on your account no longer covered by aid. Details are available in the One Stop Finances section on the Federal Title IV funds return page.