Withdrawal from College

A student may withdraw from Saint Luke’s College of Health Sciences at any time. The official date of the withdrawal is used to compute tuition and financial aid. A grade of “W” is recorded on the academic record for the semester. As designated by policies, the transcript will state if the student is dismissed from the nursing program.

To officially withdraw from the college, a student must obtain a Student Withdrawal Form from the registrar. The form must be completed and returned to the registrar.

Verbal communication to individual instructors of intent to withdraw or failure to attend classes in not considered an official withdrawal. Notification of the student’s withdrawal is sent to each course instructor by the Registrar.

A financial aid exit interview is required if the student received Financial Aid while enrolled at the college. If a student is dismissed from the college, does not attend Saint Luke’s College for one semester (unless on an approved leave of absence) or withdraws from the College during the semester, he or she ceases to be a student of the College.

The Saint Luke’s College of Health Sciences student identification badge must also be returned.

Saint Luke’s College Policy Number AP-040 - Approved 9.9.2015

Return of Title IV Federal Student Aid 

The account of the student who has federal aid and withdraws from the College before the first 60 percent of the semester has occurred will be evaluated according to the Department of Education guidelines and formula.

The policy conforms to the Higher Education Amendments of 1998. Title IV programs affected are Subsidized and Unsubsidized Direct Loans, Perkins Loans, PLUS (Parent Loans for Undergraduate Students), Pell Grants, and FSEOG grants.

Federal aid is earned by the percentage of the payment period the student completes. To figure the percentage of aid earned, divide calendar days completed in the semester by total days in the semester. Weekends are included, but scheduled breaks that are at least five days in length are excluded. If the student completes more than 60 percent of the semester, 100 percent of the aid is earned for the semester and no immediate repayment obligation is incurred. If the student completes 59 percent of less of the semester, the portion of federal aid determined to be unearned must be repaid to the federal programs.

Return of Title IV Federal Student Aid
The College will return Title IV aid from the student’s account according to the federal formula. A student may be required to return a Title IV overpayment. If the College notifies the student to return an overpayment, the student has 45 days to return the funds to the College. If the student does not comply with the 45-day requirement, the Department of Education will be notified to begin collection. The student will be ineligible for further Title IV aid until either the overpayment is paid in full or satisfactory repayment arrangements have been made with the Department of Education. 

Institutional refunds and the formula used to determine the required return of federal and other student aid will be completed within 30 days of the withdrawal date.

Return of Nonfederal Student Aid/Personal Payments
If the student received federal aid, the return of federal funds is the first priority. If the students received state aid or institutional aid or made personal payments, the state and institutional aid are repaid proportionally according to the source of payments.

Federal student aid programs will be returned in the following regulated order: Federal Direct Unsubsidized Loans, Federal Direct Subsidized Loans, Federal Perkins Loans, Federal PLUS Loans, Federal Pell Grants, Federal SEOG, and Other Title IV aid programs.

Students should also refer to the drop/withdraw policy to ensure they complete the requirements needed to drop/withdraw from a course/s.

Saint Luke’s College Policy Number CO-020

Exit Counseling

Before you graduate (or if you drop below half-time attendance), you are required to complete an exit counseling interview for all educational loans you received during your attendance. 

You can fulfill the exit requirements for William D. Ford Direct Loan Program loans at www.studentloans.gov. Since you will be able to access your account information, you will use your FSA Identification from your FAFSA to access the exit counseling information. 

To complete the exit counseling online, go to www.studentloans.gov. This process takes 25 minutes on average.

You can also access basic loan information, loan totals, and other financial aid specifics at www.nslds.ed.gov. You will need your PIN to access your personal detailed information.

Entering Repayment

Avoiding Default

Loans are not gifts. They must be repaid. If you are having trouble making your payments, call the Direct Loan Servicing Center. The Direct Loan Servicing Center will work with you to help you avoid the serious consequences of default. Consequences of defaulting on a federal student loan include: 

  • The entire unpaid balance and accrued interest becoming due and payable immediately.
  • The loss of your deferment options.
  • The loss of eligibility for additional federal student financial aid.
  • Your account being assigned to a collection agency.
  • Your account being reported as delinquent to credit bureaus, damaging your credit rating.
  • Seizure of any income tax refund due to you or you and your spouse.
  • Late fees, additional interest, court costs, collection fees, attorney’s fees and other costs incurred in collecting your loan increasing your loan debt.
  • Garnished wages
  • Legal action was taken against you by the Federal Government

You can also avoid default by keeping your contact information up-to-date with your loan servicers. 

Repayment Alternatives

A deferment is a period during which your monthly loan payments are temporarily postponed. If you are enrolled in school, at least, half-time, unemployed, experiencing economic hardship, or meet other specific criteria, you may qualify for a deferment. However, you will be responsible for the interest that accrues on your Direct Unsubsidized Loan during the deferment period.

Forbearance is a period during which your monthly loan payments are temporarily postponed or reduced. You may request a forbearance if you are willing, but unable to make loan payments due to certain types of financial hardships. You will be responsible for the interest that accrues on all of your loans during the forbearance period.

In addition to completing the online loan counseling session, you should also read the Direct Loan Repayment Book and the Counseling Guide for Direct Loan Borrowers. Both publications are available from the Financial Aid Office and on the Direct Loan website. You will also receive information about your options for repayment during exit counseling. You will receive exit counseling before you separate from school or before you drop below half-time enrollment.

If you’ve borrowed student loans it is a good idea to become familiar with the National Student Loan Data System (NSLDS). You can access their website at www.nslds.ed.gov. Click the blue Financial Aid  Review button, accept the website’s security and encryption requirements and enter your personal information to log in. Once you’re logged in you can download a document detailing each of your student loans and review your existing loans. If you click the number next to any given loan it will show you the balance, the disbursement amounts, and dates, the loan’s status,  who is servicing the loan and how to contact your servicer. This is important information to know because you will work with your servicer to set up payment arrangements, make payments or request payment deferment. Your servicer is here to help you successfully repay your loans. If you feel like you can’t keep up with your payments let your servicer know and they will assist you with finding other repayment options or deferment or forbearance options if you’re eligible.