Grants and Scholarships
Generally, grants and scholarships do not need to be repaid as long as you satisfactorily complete the semester for which the aid was awarded.
Work-Study is taxable income earned from work and does not need to be repaid under normal circumstances.
All loans must be repaid to your lender according to the terms of your loan disclosure. UMA is not your lender. Contact your lender immediately upon dropping below ½ time, leaving school and/or graduation. When you begin repayment remain in contact with your loan servicer assigned by the Department of Education especially if you are having difficulties with your payments.
Students that receive aid based upon a higher amount of credits and drop some but not all credits during a 100% adjustment period must immediately repay the excess funds received.
Leaving Without Formal Notice
Students that register for classes and do not receive any passing grade during a semester may have their previously approved financial aid recalculated. A zero Grade Point Average (GPA) includes but is not limited to grades of: “F”, “I”, “L”, “NG”, “MG” and “DG”. Previously approved aid funds must be returned to the U.S. Department of Education. The student will owe funds to UMA. Refer to: “Withdrawing and Its Affect on Your Financial Aid” in the “Important Terms” section.