Withdrawal after financial aid disbursement
Your NAU financial aid was awarded and disbursed based on enrolled hours at the time of disbursement. Once you have federal aid disbursed for a term, NAU cannot reduce or increase your hours for that term. You may be eligible to keep the financial aid that you received. However, if you drop below the number of hours for which you have been funded, your Satisfactory Academic Progress standing will be affected.
Withdrawing from all classes at NAU
Withdrawing from all classes at NAU will require a recalculation of your financial aid. The impact on your financial aid will depend on the type of withdrawal, the type and amounts of aid, and the time at which you withdraw. Please allow up to 45 calendar days for this calculation to be completed.
Types of withdrawals
- For financial aid purposes, there are two types of withdrawals, official and unofficial.
- An official withdrawal is the withdrawal from all classes by the student, via the NAU Office of the Registrar or LOUIE.
- An unofficial withdrawal is the failure to complete the courses that a student is enrolled in and received aid for. You will receive all failing grades, or a combination of failing grades and withdrawal.
- You must officially withdraw from Northern Arizona University if you do not plan to attend. If you are currently receiving student loans or have in the past, you must complete exit counseling and notify your lender(s) of your withdrawal. If you fail to officially withdraw, your aid will automatically pay for your classes, you will receive a failing grade in all classes, and you will be in default at the university until you repay 100 percent of the financial aid you received.
Return of Title IV Funds after withdrawing from Northern Arizona University
If you are receiving financial aid when you withdraw, your financial aid will be re-evaluated to determine the amount of aid you earned, which will need to be returned to the federal programs. You may be required to return a portion or your full financial aid refund.
Federal financial aid:
- Federal Subsidized and Unsubsidized Loans
- Federal Perkins Loans
- Federal Parent PLUS Loans
- Federal Pell Grants
- Teacher Education Assistance for College and Higher Education (TEACH) Grants
Federal Work- Study is excluded from this calculation.
Institutional financial aid:
- If you withdraw within the 100 percent tuition refund period, you will have your grant cancelled. If you fail to withdraw within the 100 percent tuition refund period, you will need to repay the grant amount. You cannot receive a refund on institutional aid.
- If you withdraw within the 100 percent tuition refund period, you will have your tuition scholarship cancelled.
- If you withdraw within the 100 percent tuition refund period, you may have your private donor scholarships cancelled. This will be up to the donor of the award.
Disbursement of financial aid at NAU
Aid disbursement means your financial awards have been applied to your LOUIE account for your university charges. NAU disburses aid for the first time about 10 days before classes begin (usually on a Saturday). Then financial aid disbursements occur Monday through Saturday during each semester.
Refunding of financial aid
Financial aid disbursement will first cover tuition and fees and, if applicable, housing and then meal plan. Refunding happens when there is more financial aid available to you after paying your LOUIE account for the semester. NAU’s office of Student and Departmental Account Services (SDAS) handles this process.
- Refunding happens on Mondays, Wednesdays, Thursdays, and Fridays.
- You can sign up for direct deposit through LOUIE, under “Campus Finances” > “Direct Deposit”.
- A paper check will be mailed to the address on file in LOUIE if you do not sign up for direct deposit. If the refund is mailed, it can take up to two weeks.
- Please be sure all outstanding To Do List items are complete. These items may prevent your aid from being disbursed.
- If you are a first time loan borrower at NAU, please allow 3-5 business days for your loans to disburse after completing Entrance Counseling and the Master Promissory Note.
- Too big of a refund from your loans? Return the funds to your loan lender without penalty using the 14 Day Loan Return Form.
- Federal loans (Sub, Unsub, and PLUS Loans) must be disbursed in the semester or semesters that they are awarded. NAU will not award loans for semesters or aid years that have concluded. For example: The spring semester ends on May 15th. We cannot disburse a loan for that spring semester after May 15th.