US Federal Direct Loans: Withdrawing
US Federal Direct Loans (Title IV funds) are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. If a recipient of Title IV loan funds withdraws from a school after beginning attendance, the amount of Title IV grant or loan assistance earned by the student must be determined. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned. If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, they are eligible to receive a Post-withdrawal disbursement of the earned aid that was not received.
If you need to withdraw from study completely, or your course load will fall below the required half-time enrolment, please contact Financial Aid and Awards so we can update your enrolment and determine the next appropriate steps.
Please refer to the following policies regarding withdrawals and/or a leave of abscence from SFU.
What happens when your enrollment status changes?
|Status Change||Contact Financial Aid and Awards||Complete your Exit Counselling||Notify your Loan Servicer||Request in-school deferment|
|Withdraw from school||X||X||X|
|Drop your enrollment to less than half-time||X||X||X|
|Return to school at least half-time after a period of less than half-time||X|
|Transfer to another school||X||X||X|
|Go to Graduate School||X|
Student loan borrowers must participate in Exit Loan counseling prior to graduation, if they drop below Half-Time enrollment, or if they leave the university.
Exit Counselling provides students with information about repayment plans. It is mandatory for all graduating students with subsidized, unsubsidized and Grad PLUS loans.
Online Exit Counselling must be completed during the final semester of studies and prior to graduation.
If you withdraw from the University, you are obligated to fulfill the Online Exit Counselling requirement.
Once you have completed your Exit Counseling, please notify Financial Aid and Awards.