If you withdraw from Albion College, you may be eligible for a refund of a portion of the tuition, fees, room and board paid to Albion College for that semester. If you received financial aid, then a portion of the refund will be returned to the grant, scholarship, or loan source from which that aid was received.
Withdrawing or taking a leave of absence may affect the timeline on repayment of your college loans. However, most loans have a grace period that can be applied to a leave of absence.
Students who are considering withdrawing from the College should consult the policy in the online Academic Catalog and with the Vice President for Student Affairs.
Students who do withdraw from the College are subject to the Albion refund policy and the federal Return to Title IV Aid. Specific information regarding both policies is available below.
The Albion College refund policy is as follows: Students who withdraw from Albion College will receive a pro-rated refund of educational fees and room/board charges according to the following schedule:
||75 percent/pro-rated board fees
||40 percent/pro-rated board fees
The federal withdrawal policy is applied to all federal financial aid (Pell, TEACH and SEOG grants, work-study, Perkins, Stafford and PLUS loans). Federal law requires federal aid recipients to "earn" most of the aid they receive by staying enrolled in college at least half-time.
Students who withdraw prior to completing 60 percent of the semester for which they received federal student aid may be required to return some of the aid they were awarded.
The Return of Title IV financial aid is based upon the amount of federal financial aid received, the College charges incurred, AND the date of withdrawal. College charges include tuition, fees, and on-campus housing charges.
Students who withdraw prior to completing 60 percent of the semester will "earn" financial aid paid to them (or used to pay their fees) each day of the quarter they are enrolled.
Students who withdraw after completing 60 percent of the semester will have earned all financial aid received.
The amount of financial aid “earned” will be calculated as follows: the percentage of aid to be returned is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester. The College will return to the federal government any funds that were credited from the Albion refund first. If the amount returned by the College is not enough to repay the entire "unearned" amount, the student will be required to return portions of amounts that they received to pay for non-institutional charges – books, supplies, off-campus living expenses.
Amounts that are returned to the federal government, either from the Albion refund or by the student, will first be applied to the student's federal loans. If the student owes any federal loan funds after the College has paid back its share, he or she will be permitted to repay the loans based on the original terms of the loans – usually a ten-year repayment term after a grace period and deferment period if the student returns to school. In addition, the student may be required to return portions of grants such as Federal Pell, TEACH, and Supplemental Educational Opportunity Grants (FSEOG) that they have received. In the case of "unearned" portions of federally funded grants, the student will be expected to pay 50 percent of the "unearned" portion immediately or to make satisfactory arrangements to repay that amount.
Apply for admission.
When reviewing your admission application we'll also look for any scholarships for which you're eligible.
Complete your FAFSA.
Need help? Check out the 7 Easy Steps to the FAFSA video or contact our office at
Review your Financial Aid Award.
Once we've received your FAFSA we'll send you a financial aid letter that outlines any grants, loans or work-study that you may receive. We'll also include a link to the Albion College Information System (ACIS). This is your on-line portal that will give you all the details about each award and any outstanding requirements.
Complete your Financing Plan.
Included with your award notification will be your personalized financing plan that allows you to consider other resources that you'll have available to assist with your college costs.
Accept your aid.
Log into your ACIS account and accept any loans or work that you'd like. You'll also need to accept the Terms and Conditions for your scholarships.
Complete your loan counseling and promissory notes.
If you've accepted any loans you'll need to complete a promissory note – that's your agreement to repay the loan. And, you'll also be required to complete loan counseling. You can do both of those on-line. Your ACIS information will have the links for you to complete those requirements.
Make a plan to pay your bill.
We'll send your fall semester in early July. You can make sure all of your financial aid is ready to be applied to your bill by checking your financial aid requirements in ACIS. If you need additional resources to pay your bill now is the time to explore those.
Consider other resources.
There are additional loan programs – the PLUS loan for parents and alternative loans - to help cover your costs. You can learn more about those on our loan page. The college also has a payment plan through HigherOne.
Authorize your parents to have access.
If you'd like to have your parents get a copy of your bill you'll need to add them as an authorized user on your account. You can sign them up on our Authorized Users page. You also may provide them access to view your ACIS account under the Proxy Menu option.
Read your emails and check your ACIS account to make sure your file is complete. Follow us on Facebook and Twitter for updates on available scholarships and learning opportunities through the Financial Skills Center.