MSVU Students in Receipt of
U.S. Financial Aid (R2T4)
If you receive U.S. financial aid and withdraw from the University, and are eligible for a refund of fees paid for that period of enrolment, a determination must first be made as to whether any of the refund money must be returned to the U.S. Federal Aid program. If it is determined that refund money must be returned to the aid program, the distribution of money will be as follows:
1. Stafford Unsubsidized
2. Stafford Subsidized
3. Federal PLUS
The University will utilize the Return to Title IV calculation to determine what, if any, funds are to be returned to the DOE. Pro-rated refund calculations apply for any student in receipt of student aid attending Mount Saint Vincent University who withdraws.
If Mount Saint Vincent University is required to pay money on your behalf to the U.S. Department of Education as a result of your early withdrawal you will be required to repay that money to MSVU.
After these calculations and payments are made, any remaining funds will be returned to you or your parents (Parent PLUS loan).
In addition, you may also be required to pay back money to the U.S. Federal Government if you withdraw early from the University while in receipt of federal aid.
If you are considering early withdrawal, it is strongly recommended that you contact the Financial Aid Manager to discuss your options and possible implications. It is important to note that withdrawals from your program, particularly if there is no return to Title IV lengthen your program. You will be seen to have used a year or term of funding which counts toward your maximum eligibility (see Satisfactory Academic Progress Requirements … Maximum Time Frame).