Withdrawals

Withdrawing from the College

The official withdrawal procedure applies to all full and part-time degree students leaving the college and withdrawing from ALL classes. To withdraw you may go in person, mail, fax, or email the Registrar's Office.

See: Withdrawing from the College

Withdrawals and Refund Periods

You may be eligible for full or partial refund depending on your withdrawal date.

See: Withdrawals and Refund Periods

Official Withdrawals and Title IV Refunds

Students who receive federal student aid and withdraw from the college completely are subject to a calculation as defined by the federal government which determines the type and amount of Federal Aid that must be returned to the Department of Education.  365asia is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.

365asia uses the Department of Educations R2T4 website calculator to determine the amounts that need to be refunded.  If a student earned less aid than was disbursed, the College is required to return a portion of the funds and the student is required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution. The appropriate amount of aid is returned to the Department of Education by the Bursars Office.  Students are mailed a letter to their permanent mailing address and emailed a copy detailing the aid adjustment within 2 weeks of the Financial Aid Office being notified of the official withdrawal.

If a student earned more than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student's withdrawal.

The College must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the students withdrawal.

Refunds as required by the Department of Education are allocated in the following order:

  • unsubsidized Federal Direct Stafford Loans
  • subsidized Federal Direct Stafford Loans
  • Federal Perkins Loans
  • Federal Direct Parent (PLUS) Loans
  • Federal Direct Graduate PLUS Loans
  • Federal Pell Grant
  • Federal Supplemental Opportunity Grants  
  • Other assistance under this Title for which a return of funds is required

Students who owe a repayment of Title IV aid must repay those funds before becoming eligible again for federal aid.

Unofficial Withdrawals and Title IV Refunds

After the third week of a fall or spring semester professors submit certification rosters to the Registrars Office.  A list is run of all students who have UNOFFICIALLY withdrawn (stopped attending all classes without following the official withdrawal procedures or dropped all of their classes one at a time.)  These students have ID / NA/ PW codes.   

These students Last Date of Attendance (LDA) is determined by the last date of attendance as entered by the faculty.  That date is used in performing the Return of Title IV Funds calculation.  The rest of the procedures followed are exactly the same as for students who are official withdrawals.

Unofficial Withdrawals Based on GPA

At the end of each semester, grades are calculated. A list of students who have received a 0.00 GPA for the semester is determined.  These students' last date of attendance is also determined and official withdrawal procedures are followed.  

Applying for Readmission

If you were previously enrolled in a degree program you will need to request readmission. See: Former Students 

Withdrawing from Individual Classes

You must be matriculated and enrolled in classes in your degree program to be considered for financial aid. Most financial aid programs for part-time students require students to be matriculated and enrolled in at least six credit hours; some financial aid programs are limited to full-time students. 

If you are considering changing enrollment from full- to part-time, or if your enrollment could drop below six credit hours, we highly recommend that you contact Financial Aid Services first to learn how your financial aid may be affected.  You may call Financial Aid Services at (212) 217-3560 or email us at [email protected].