2005-2006 Financial Aid

Leave of Absence

For information on Villanova Law School’s leave of absence policy, JD student should see the Villanova University School of Law Student Handbook and Graduate Tax students should see the Graduate Tax Program brochure. Students contemplating taking a leave of absence from the law school should either contact the Associate Dean for Academic Affairs (JD students) or the Director of the Graduate Tax Program (graduate tax students) in addition to the Office of Financial Aid.

In order for a financial aid student to be eligible for a leave of absence, there are several conditions that must be met. One of the conditions is that the leave(s) of absence cannot exceed 180 days in any 12-month period and another is that the student must be able to return to the program at the point where the student interrupted the program. If these conditions, along with several other conditions are not met, then the student does not qualify for a financial aid leave of absence and is considered to have withdrawn.

Financial Aid Students

Return of Title IV Funds Policy

When a student who has received Title IV aid such as a Subsidized or Unsubsidized Federal Stafford Loan or Federal Perkins Loan withdraws or goes on a leave of absence from the law school, the institution must determine the amount of aid that has been earned as of the date of withdrawal or leave. Earned aid may have been used to pay for institutional charges such as tuition and fees or non-institutional costs such as books and living expenses. Title IV aid that is considered unearned aid must be returned to the appropriate programs.

If the student has completed more than 60% of the semester, he is considered to have earned 100% of his Title IV aid for that term and therefore there is no unearned aid that must be returned to the Title IV programs. If the student has completed 60% or less of the semester, then the amount of aid that has been earned is equal in percentage to the percentage of the semester that has been completed. For example, in a semester that is 115 days and the student withdraws on the 30th day, then 26% of the semester has been completed and 26% of the Title IV aid has been earned.

Unearned aid must be returned to the Title IV programs in the following order:

1. Unsubsidized Federal Stafford Loan Program
    
2. Subsidized Federal Stafford Loan Program
    
3. Federal Perkins Loan
    
4. Other grant or loan assistance authorized by Title IV of the HEA.

If Title IV funds do not exceed institutional charges, then the institution must return the unearned funds. If Title IV funds exceed institutional charges then the responsibility to return the unearned portion is divided between the institution and the student because both hold some portion of the Title IV funds. If the student is required to return funds to a loan program, that money is repaid under the terms and conditions of the promissory note.

For further information on this policy and for examples of how the return of Title IV funds is calculated, please come to the Office of Financial Aid in Room 47, email finaid@law.villanova.edu or call 1-610-519-7015.

Refunds of Other Aid

For aid other than Title IV aid (such as an alternative loan), the calculation of how much aid has been earned and how much aid must be returned to the various programs is the same as described above for Title IV aid.

Non-Financial Aid Students

Students who are not recipients of any type of financial aid and who withdraw or go on a leave of absence from the law school have their refunds calculated the same way as students with financial aid. The institution must determine what percent of tuition has been earned as of the date of withdrawal or leave. Any tuition that is considered to be unearned must be returned to the student. If a student has completed more than 60% of the semester, the student is considered to have earned 100% of his tuition for that term and therefore no tuition will be refunded.

For further information on this policy and for examples of how the return of Title IV funds is calculated, please come to the Office of Financial Aid in Room 47, email finaid@law.villanova.edu or call 1-610-519-7015.

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