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Refunds and Financial Aid Policy Students who withdraw or take leave of absence during a semester may receive a tuition refund according to Macalester's refund policy published in the Course Catalog. Federal Student Aid regulations require that Macalester reduce a student's Federal Student Aid if the student withdraws before completing more than 60% of a semester. Federal Student Aid includes Federal PLUS Loans, Federal Unsubsidized Stafford Loans, Federal Subsidized Stafford Loans, Federal Perkins Loans, Federal Pell Grants, Byrd Scholarships, and Federal Supplemental Educational Opportunity Grants (SEOG). The percentage of Federal Student Aid that must be returned is equal to the number of days remaining in the semester at the time the student withdraws divided by the total number of calendar days in the semester. Scheduled breaks of more than four consecutive days are excluded from the denominator. Aid from state agencies will be returned to the state agency according to the state's return policy. Financial aid from Macalester will be adjusted so that the percentage of tuition paid by Macalester aid is consistent. For example, if Macalester financial aid paid 50% of tuition before withdrawal, Macalester financial aid will pay for 50% of post-withdrawal tuition. Students considering withdrawal should begin the process of withdrawing by contacting the Dean of Students. Financial aid counselors are available to help with questions about the withdrawal's affect on financial aid.
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