The policy will affect students who completely withdraw from all classes in a semester and who are receiving State or institutional financial assistance. It does not apply to students who withdraw from some, but not all classes within a semester. All financial programs are covered under this policy.
The portion of the Commonwealth Grant & VGAP funds that the student is entitled to receive will be calculated on a percentage basis. This percentage will be calculated by comparing the total number of days in the semester to the total number of days that the student completed before he/she withdrew.
State Student Loan, Last Dollar, and VTG funds MUST be reduced to tuition costs only before any further refund is considered.
Funds from the Virginia Teaching Scholarship Loan Program must be returned to this program in full.
Once a student’s return of Title IV aid and state aid has been calculated and the aid has been returned or refunded, any remaining money on a student’s account will be credited back to the aid programs from which the student received funds. If any balance remains after these programs have been credited, the balance will be returned to the student.