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3. Know Your Responsibilities

What happens if I withdraw from school?

We highly recommend staying in college, but we realize that situations can arise that require students to withdraw. If you find yourself in this situation, remember these important points:

  • Complete withdrawal forms BEFORE you leave school. You may lose all or some of your eligibility for financial aid, especially if you do not complete the necessary forms.
  • Your institution may have to return funds used to pay your school charges, and you may end up owing the college for any tuition and fees originally paid by financial aid. You may even have to repay grants due to lost eligibility.
  • You are responsible for repaying student loans that are not refunded whether or not you return to college.

Be sure you talk to the financial aid office at your college or career technology center BEFORE withdrawing to find out how your current and future financial aid will be affected.

If you've accepted student loans, you typically have a six-month grace period before you will need to begin making payments. Find more student loan resources at and

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.