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Home >  Current Students >  Student Service Departments >  Enrollment Center: Finances >  Reductions in Charges and Financial Aid > 
Reduction in Charges and Financial Aid    

Semester withdrawal 
  • The semester charges (tuition, housing, and meals) are reduced or recalculated (financial aid is also reduced) in proportion to the time attended, under these conditions:
  • A student ceases to attend a course before completing that course, and there is no written confirmation of the student’s intent to attend an additional course that semester. Or a student fails to begin attendance in a course for which the student registered where there was no prior notification about changing the semester enrollment.
  • The last date of attendance is the official withdrawal date. The last date of attendance must be documented by the University from its own records of any academic attendance (a student’s statement of last date of attendance is not sufficient). The professor may specify the last date of class attendance in writing or via email.
  • The percentage of time attended is defined as number of calendar days from the start of the first course for that student in that semester to the official date of withdrawal, divided by the the number of calendar days in that student’s semester enrollment (not counting any time of more than five consecutive days during which the student was not scheduled to take any courses). The semester charges are recalculated to be the percentage of time attended multiplied by the original semester charges. After 60% there is no reduction.
  • If there is written confirmation of the intent to take additional courses that semester, at the time of withdrawal from a course, there is no reduction in charges. If the student does not return for the additional course, the charges are reduced according to the withdrawal date of the earlier partially attended course. If a student returns and withdraws from the future course, the withdrawal date is the date from that future course.
  • Professionals Program charges are exempted from this policy because their charges are adjusted according to their program agreement.
University withdrawal
First, a Pell Grant must be reduced to the earned amount as of the withdrawal point, based on the number of credits attempted (½ Time or ¼ Time). All of the remaining award amounts (except Federal Work Study) are reduced by multiplying times the percentage attended. Federal law requires that the federal aid be reduced as a whole, in the following order:
  • Direct Unsubsidized first, then Direct Subsidized;
  • Perkins loans next;
  • Federal grants last: Pell first, then FSEOG
The return of federal student aid to the U.S. Government by the University means that in many cases this could result in a payment due by the student to the University.

Example: University withdrawal for student with U.S. Government aid
$13,215  
Tuition and Fees for one semester, original semester registration for off campus student
$17,695
Financial Aid:
  • $3,075 Federal Grants
  • $7,120 Federal Student Loans
  • $7,500 Institutional Scholarship
 $4,480
 Projected Semester Cash Refund for Living Expenses

This student received $1,493 of the cash refund after the third week of class attendance and then ceased attending after the fourth week of class attendance. The Pell grant is reduced to 50% for ½ earned attendance (from $2775 to $1388).

The official withdrawal date is the last date of attendance, the 28th day of the semester where the enrollment period is 118 days, having attended 24% in time. The charges and aid are reduced and recalculated as follows:

 $3,335 
Tuition and Fees (24% of original tuition charge + $215 semester fees)
 ($2,178) 
Federal Aid: $1,688 grants, $490 loans (24% of remaining federal aid, grants first then loans)
 ($1,800) 
Institutional Scholarship (24% of original $7500 scholarship)
$643 
New Semester Refund Eligibility
The student already received $1,493 thus must return $850 cash to the University. The University will not allow the student to re-enroll and will not release a transcript until this outstanding balance has been paid.

IMPORTANT NOTICE
In compliance with Iowa Code Annotated Title VII 3 261B, please see www.mum.edu for course titles, descriptions, academic policies, credit earned and degrees, as well as accreditation information, in combination with the charges and refund policies herein. Maharishi University of Management reserves the right to change, without prior notice, its charges and policies.

The content of this page was reviewed in May 2013.
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