Enrollment Changes and Financial Aid

How Enrollment Status Affects Your Aid

Full-time students: Your aid package is based on full-time enrollment unless you are in a program that operates on a part-time basis. If you drop below full-time status, your loans and other aid may be recalculated to reflect your new enrollment level.

Half-time students: Half-time enrollment is the minimum required to receive most federal financial aid, including Federal Direct Unsubsidized Loans and Federal Work-Study. If you are enrolled at half time and drop even a single course that takes you below that threshold, your federal aid eligibility may be suspended.

Less-than-half-time students: Students enrolled less than half-time are not eligible for federal student loans or Federal Work-Study. While you may apply for a credit-based private loan to help cover tuition, fees, and books, you should be prepared to cover living expenses out of pocket. Indirect costs are generally not covered by private loans for less-than-half-time students.

If you are currently receiving federal aid and your enrollment drops below half-time, you may be required to repay some or all of the federal assistance you have already received for that term. This is one of the most significant financial consequences a student can face from an enrollment change. Please contact our financial aid office before dropping any course if you are near a threshold.

Your Obligation to Notify Us

It is your responsibility to notify our financial aid office immediately when your enrollment status changes. Do not wait until the end of the term or until you see an adjustment on your account. 

How to notify us: Contact the Office of Financial Aid by email or through the Student Gateway. Include your name, student ID, program, and a description of the enrollment change.

Prompt notification allows us to:

• Review your award and recalculate your aid based on your new enrollment status
• Make any required adjustments before your aid disbursement, rather than after, which can result in a balance owed
• Advise you on your options before a change becomes irreversible

If we are not notified promptly and your aid is disbursed based on an enrollment status that no longer applies, you may be required to repay funds already received. You cannot receive more financial assistance than your Cost of Attendance allows, and your COA is recalculated based on your actual enrollment.

Specific Situations

Dropping a course: If dropping a course changes your enrollment status, for example, from full-time to half-time, or from half-time to less than half-time, your federal aid eligibility will be recalculated. You must notify our financial aid office immediately. If a loan has already disbursed for that term and must be reduced, you may owe a balance back to The Chicago School or to the federal government.

Adding a course: If adding a course increases your enrollment status, for example, from half time to full time, you may become eligible for additional aid. Contact our Financial Aid office to determine whether your award can be adjusted.

Withdrawal (temporary or permanent): Withdrawing from a term or from The Chicago School triggers a Return of Title IV Funds (R2T4) calculation. The amount of federal aid you are permitted to keep is based on the percentage of the term you attended, not on the charges assessed to your account. If you withdraw before completing 60% of the term, a portion of your federal aid must be returned. If you withdraw after the 60% point, your aid is considered fully earned. We strongly encourage you to discuss your options before making this decision. There may be alternatives to a full withdrawal that better protect your financial aid.

• How to withdraw: Submit a Withdrawal Request through the Student Gateway or contact your Student Success Advisor at [email protected], or notify the Registrar’s office at 800-595-6938 Option 7.
• Contact Financial Aid Before Withdrawing
• Contact Your Student Success Advisor

Leave of absence: An approved temporary leave of absence may have different financial aid implications than a full withdrawal, depending on the length of the leave and your program’s policies. Federal loans enter a grace period when you drop below half time. If that grace period expires before you return, repayment may begin. Contact the Financial Aid office before requesting a leave of absence to understand the full financial impact.

• Contact Financial Aid About a Leave of Absence

Pro-forma / study away status: If your department approves a change to pro-forma, study away, or a similar non-standard enrollment status, notify our financial aid office immediately. These statuses may affect your enrollment classification for federal aid purposes even if you remain academically active.

Enrollment Changes and Satisfactory Academic Progress (SAP)

Enrollment changes, particularly dropped courses, can also affect your Satisfactory Academic Progress standing, which is required to maintain financial aid eligibility. Specifically:

• Dropped courses after the add/drop period are counted as attempted credits for SAP purposes, even if no grade is recorded.
• Failing to complete at least 66% of all attempted credits will put your SAP standing, and therefore your financial aid eligibility, at risk.
• Repeated withdrawals or drops may affect your ability to complete your degree within the 150% maximum timeframe allowed under SAP.

Before dropping any course, consider the SAP implications alongside the financial aid implications. Both can have lasting effects on your eligibility.

Enrollment Changes and Loan Repayment

If your enrollment drops below half time for any reason, including a leave of absence, part-time status, or withdrawal, your federal loans will enter their grace period. For most Federal Direct Unsubsidized Loans, the grace period is six months. Once the grace period ends, repayment begins.

If your grace period is triggered and then you return to at least half-time enrollment before it expires, your loans return to in-school deferment status, and the grace period resets for a future use. However, if the grace period expires while you are below half time or not enrolled, repayment will begin regardless of whether you return to school.

Understanding how enrollment changes interact with your loan repayment timeline is especially important if you are considering a leave of absence or a reduction in enrollment. Contact your loan servicer or our financial aid office to understand the specific implications for your loans.

Contact Financial Aid About Enrollment Changes and Loan Repayment

Canadian Students: Enrollment Changes and Provincial Aid

If you are a Canadian student receiving provincial financial aid, The Chicago School is required to notify your province when you withdraw or cease to be enrolled full time. This notification may affect your provincial aid disbursements and your obligations to your provincial aid program.

If your enrollment status changes, contact our financial aid office promptly so we can fulfill this reporting obligation on your behalf and advise you on any implications for your provincial funding. 

How Will an Enrollment Change Affect Your Aid?

Please reach out before making any enrollment change, not after. We can tell you exactly what the financial impact will be and help you make an informed decision. A quick conversation now can prevent significant financial complications later.