Official Withdrawal
For a student to be considered officially withdrawn, he/she must notify the College orally or in writing of his/her intent to withdraw by contacting the Office of Student Affairs. The withdrawal date is the date that the student notifies the Office of Student Affairs of his/her intent to withdraw and /or begins the withdrawal process by completing a withdrawal form.

Unofficial Withdrawal
If a student ceases attendance without providing official notification to the College, the withdrawal date will be the mid-point of the semester, except that the College may use as the withdrawal date the student’s last date of attendance at an academically-related activity, as documented by the College.

Special Circumstances
If the College determines that a student did not provide official notification because of illness, accident, grievous personal loss, or other such circumstances beyond the student’s control, the Dean of Students may determine a withdrawal date related to that circumstance.

Date of Withdrawal or Dropout
Once a student has withdrawn from the College, refunds will be computed and credited by the College Business Office within thirty days of notification of withdrawal. No separate refund request is necessary. See Refunds section under Tuition & Fees.

Return of Title IV (Federal) Financial Aid
When a student withdraws during a semester, the amount of federal financial aid earned by the student is determined on a pro-rata basis. Once a student has completed 60 percent of the semester, he/she is considered to have earned all of his/her federal financial aid. If the student has completed less than 60 percent of the semester, he/she is considered to have earned an equal percentage of the aid originally scheduled to be received.  (Federal Work Study funds are excluded from the return of Title IV funds requirements.)
   
If a student has received excess funds, the College must return a portion of the excess equal to the lesser of: (A) the student’s institutional charges multiplied by the unearned percentage of funds, or (B) the entire amount of the excess funds.
    
If the aid to be returned is in the form of a loan that has been released to the student (or parent) borrower, the student (or parent) can repay the loan in accordance with the terms of the promissory note over a period of time.
    
If the aid to be returned is in the form of grant funds, the law provides that the student may repay 50 percent of the grant rather than 100 percent.
    
The Title IV funds must be credited to outstanding loan balances or to any amount awarded for the semester in which a return of funds is required in the following order:

1.  Unsubsidized Federal Stafford Loans
2.  Subsidized Federal Stafford Loans
3.  Federal Perkins Loans
4.  Federal PLUS Loans received on behalf of the student
5.  Federal Pell Grants
6.  Federal SEOG Grants
7.  Other Title IV assistance

Refund of Charges
A student who withdraws prior to completing 60% of the semester is entitled to a pro-rata cancellation of that semester’s direct costs for tuition, room and board.  Indirect costs such as parking permits, insurance, books, class fees, etc., will not be pro-rated.  After completion of 60% of the semester, there is no refund of charges.

A student who withdraws before the first day of classes of any semester, is not considered to have been enrolled for that semester and is therefore entitled to a 100% cancellation of charges. If a student remains on campus beyond his/her withdrawal date, he/she will be assessed room and meal costs based on actual period of residency on campus.

Refund of Funds from the Illinois Student Assistance Commission Monetary Award Program (MAP)
Per the rules of the Illinois Student Assistance Commission, if a MAP recipient withdraws after the end of the second week of the semester, the student may receive MAP grant payment for costs incurred up to the semester award provided the college’s tuition refund policy indicates that the student has incurred charges in the amount of the claim.

Refund of Institutional Financial Aid
Institutional financial aid may consist of Monmouth Grant, Monmouth Scholarships and Monmouth Loans. The refund/cancellation of institutional financial aid follows the pro-rata policy for the cancellation of institutional charges. When a student withdraws prior to completing 60% of a semester, a pro-rated portion of his/her institutional financial aid will be returned to the program(s) from which the student received funds. After completing 60% of the semester, there is no cancellation of financial aid. A student who withdraws before the first day of classes of any semester is not considered to have been enrolled for that semester and therefore 100% of the student’s institutional aid will be cancelled.

Refund of Private Scholarships, Grants and Loans
Unless otherwise requested by the donor or a private scholarship or grant award, the funds will be retained to cover the costs incurred by the student. Excess funds will be returned to the donor. Private/alternative loans will be the last item retained to cover the costs incurred by the student. Excess loans proceeds will be returned to the lender.

Summary
In summary, the financial assistance a student is entitled to retain from each source (federal, state, institutional & private) will be calculated and kept in the order described below up to the total costs incurred by the student. When the total assistance a student is entitled to retain is less than the costs incurred, the student will be billed for the difference.

1.  Private grants/scholarships
2.  Other Title IV grants
3.  Federal SEOG grant
4.  Federal Pell Grant
5.  Illinois IIA Grant
6.  Illinois MAP Grant
7.  Illinois MRS Scholarship
8.  Illinois Byrd Scholarship
9.  Monmouth College Grants/Scholarships
10. Illinois DTSS Scholarship
11. Illinois MTI Scholarship
12. Federal PLUS Loan
13. Federal Perkins Loan
14. Federal Subsidized Stafford Loan
15. Federal Unsubsidized Stafford Loan
16. Private/Alternative Loan