If you withdraw from IU after your aid has been applied, the federal government requires us to calculate whether your aid must be repaid. We may return all or some of the money already applied to your student account. The amount that will be repaid will depend on when you withdraw and what charges are on your student account.
What happens to your financial aid if you withdraw?
You may have to repay some money
About 45 days after you withdraw, we’ll send you a letter that lists the aid we’ve returned to federal Title IV programs on your behalf.
If you received federal aid funds directly (for example, as a refund) to be used for other educational expenses, you might have to return some of that money.
We’ll bill you for any IU charges that remain unpaid.
You may not be eligible for future aid
If you withdraw from IU, your eligibility to receive aid in the future may be affected. Make sure you understand what it means to make satisfactory academic progress.Learn how to keep your grants and loans
Your timing makes a difference
When you’re enrolled in classes, you “earn” your aid as you go through the semester. If you were to withdraw late in the semester, less aid would be repaid than if you withdrew earlier.
If you receive a refund on a Federal Direct Loan, we’ll notify Direct Loan School Services if you withdraw before the semester starts. You’ll get a letter from School Services Loan Counseling asking you to return the loan proceeds, since you’re no longer eligible for the money.