Refunds
Prior to the beginning of classes and upon completion of the financial aid award process, financial aid funds are disbursed (or transferred) to the student's account. A check for the refund amount (awarded financial aid less tuition and fees) will be mailed to the student's current address for the opening day of campus classes.
If financial aid is completed after the opening day of campus classes and a refund check is issued, the check will be mailed on the Friday following the financial aid disbursement to the student’s account.
If the student drops credit hours, withdraws from the University of Maine at Augusta, or receives a refund in error, the student will owe part or all of the refund back to the University of Maine at Augusta.
If the student receives a refund and is registered at another University of Maine campus, the student may owe a balance at that campus. The student should contact the billing office at that campus to be sure his/her account has a zero balance.
Policy for Return of Funds for Students Who Withdraw
When a student receiving Title IV financial aid withdraws from all courses, the aid must be adjusted in accordance with rules established by the U.S. Department of Education. These calculations may result in the student owing a balance to the University. Please contact the financial aid office at (207) 621-3455 prior to withdrawing to see how withdrawing will affect you financially.
Return of Title IV, State, & Institutional Funds
When a student withdraws, University policies and federal requirements may result in a reduction of charges and financial aid. If a student withdraws on or before the 60 percent point of the enrollment period, the federal calculation is performed. This calculation follows a specific percentage of adjustment based on the date of withdrawal and may require a return of financial aid to federal, state, and institutional aid programs.
The day the student officially withdraws is determined to be the withdrawal date. If the student ceases attendance without providing official notification of withdrawal to the institution, the mid-point of the enrollment period will be the withdrawal date for the purpose of calculating the return of funds.
Order of Return of Funds
Funds are returned to the appropriate aid accounts as the result of withdrawal in the following order prescribed by law and regulations:
- Unsubsidized Federal Stafford Loan/Direct Loan
- Subsidized Federal Stafford/Direct Loan
- Federal Perkins Loans
- Federal PLUS Loans
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants (SEOG)
- Other Title IV Aid Programs
- Other federal, state, private, or institutional aid
- Student