Return of Financial Aid

Federal law states that if you receive federal aid and withdraw* or drop-out of all of your classes before completing 60% of the semester, you will have to return some of the federal aid that you received.

Because Madison College values you and wants you to be able to make an informed choice on the impact of leaving the college while classes are in session, we recommend that if you are considering withdrawing from all credit classes, that you first talk with your academic advisor or program counselor regarding this important decision. This is especially important if you are receiving federal financial aid. Madison College strives to provide the resources you need to stay enrolled; however, if you decide to withdraw, you need to understand Madison College's tuition refund policy, grading consequences and, if receiving financial aid, the federal law relating to the "return of federal aid."

The "return of federal aid calculation" is completed by the Financial Aid Department. Madison College must also return a proportional part of your tuition to the federal funds that were originally used to pay your tuition. The formula for calculating this repayment is based on the number of days you completed (up to the withdrawal date) divided by the total number of days in the semester.  Failure to attend any classes will mean that you must return 100% of all aid you received.

You will be billed for any funds the college is required to repay. You will not be eligible for any additional funds at any institution until these funds are repaid to Madison College.

Federal Funds Affected:

• Stafford Loan (unsubsidized)
• Stafford Loan (subsidized)
• PLUS Loan
• Pell Grant
• Academic Competitiveness Grant
• SEOG Grant

This calculation is separate from Madison College's state approved policy on tuition Refunds.

Withdrawal Procedure

If there were extenuating circumstances (situations outside of your control) that prohibited you from attending and required you to drop your classes which temporarily prevented you from continuing your academic career, you may apply for an Extenuating Circumstance (PDF, 1934 KB) to be considered for a possible partial or full refund. At the time of extenuating circumstances, students are encouraged to work with their instructors to see if class work can be made up. If not, and you need to drop your classes, you may apply for an Extenuating Circumstance only after you have dropped your classes. The process of applying for an Extenuating Circumstance does not drop you from your classes.

All applications for Extenuating Circumstances must be initiated by the student by submitting the completed Extenuating Circumstances Application with proper documentation no later than 30 calendar days (postmarked) after the end of the term. An Extenuating Circumstance Application submitted after 30 calendar days may result in denial. There may be an opportunity to appeal if the reason for the request falls outside of the 30 calendar day timeline and the request is made within 90 calendar days (postmarked) of the end of the term. Please allow up to 60 days to research and process and Extenuating Circumstance Application. Applications are reviewed in the order they are received. Refunds will be made at Madison College's discretion and may be granted at 0%, 60%, 80% or 100%. Decisions are final.

*Withdrawal date is defined as your last date of academically related activity.

If you have additional questions, search our knowledge base of frequently asked Tuition/Fees questions available through askMadisonCollege or phone the Enrollment Center at (608) 246-6210.