Financial Aid Revision


Financial Aid ~ Revision

Financial aid award revisions will be made in the following cases:

  • If you receive additional resources such as scholarships, Cal Grants, or stipends
  • If you reduce unit enrollment
  • If you do not indicate your correct housing status on your Award Letter
  • If you withdraw from all courses
  • If your appeal for revision is granted
Withdrawal from Courses

Title IV recipients who withdraw from CSUMB will be subject to repayment of a portion of awarded funds. Responsibility for repayment will be shared by CSUMB and the student

Financial Aid recipients who withdraw must repay any unearned portion of aid received for the term attended. The portion of unearned Title IV funds will be calculated by the Financial Aid office. The amount is based on the number of days completed, divided by the number of calendar days in the term. Breaks in enrollment of five or more consecutive calendar days are excluded from the number in the term. No repayment of Title IV funds will be required for withdrawals occurring after the 60% point of term. After determining the amounts of aid to be refunded or repaid, the funds must be distributed back to financial aid according to a specific order of priority prescribed in federal regulations. The order of distribution is federal loans; federal grants; and then other federal, state, or institutional aid.

Registration fees will be fully refunded for courses dropped prior to the first day of instruction. Additional information is available upon request from the Financial Aid Office.

Date of Withdrawal
The date of withdrawal is the date you begin the withdrawal process, or the date you notified the office of Records and Registration of your intent to withdraw.

Post-Withdrawal Disbursements

Post-withdrawal disbursement determination will be made by the Financial Aid Office and coordinated for credit or repayment with Records and Registration. Unearned Title IV Aid will be returned to their source in the following order:

  1. Federal Perkins Loan
  2. Federal PLUS Loan
  3. Unsubsidized Federal Stafford Loan
  4. Subsidized Federal Stafford Loan
  5. Federal SEOG Grant
  6. Federal Pell Grant

 

Unofficial Withdrawal


If a student fails to earn a passing grade in at least one class, CSUMB is required to calculate the amount of Return to Title IV funds based on the last day of enrollment. If last day of attendance cannot be determined, CSUMB may use the midpoint of the period (in lieu of an official withdrawal date) as documentation of the student's last day of attendance. Unless the student can provide acceptable documentation that shows the student was enrolled more than 60 percent of the semester, the student will be responsible for returning unearned funds. The student will be notified of the responsibility to repay unearned funds to the appropriate program and/or CSUMB.

 

Student Appeal for Revision

If you feel that you have extenuating financial circumstances that warrant a review of your financial aid, you may choose to appeal. You should contact the Campus Service Center to obtain the appropriate forms.