How Can I Get My Financial Aid Back If it Is Terminated?
Financial aid is a form of monetary assistance used to help a person achieve a specific personal goal or aid in a cause. Any institution or lender can terminate financial aid at any time after an applicant has received approval for it. Reasons for termination include accidental termination, failure to meet the terms of the financial aid agreement or providing false information on the financial aid application. Whether you can get back your financial aid after it is terminated depends entirely on the institution's rules, the type of aid and the termination reason.
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Instructions
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Contact the office that handled your financial aid request or disbursement and ask the representative for the termination reason. If you already know the reason, explain your situation to the representative, providing as many details as possible about the events leading up to the termination; for example, failure to meet an obligation because of extenuating circumstances such an illness or the death of a family member.
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Ask the representative if you can appeal the decision, or ask for an investigation if you believe the termination is an error. If your situation warrants an appeal or investigation, ask for detailed instructions about the process. If the termination resulted from an error or extenuating circumstances, also ask whether a faster appeal or investigation process is available to reduce the amount of time that you're negatively impacted by the cessation of the aid.
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Follow the representative's initial instructions to file the appeal or ask for an investigation and any other instructions you receive during the process. For example, you may need to complete and file appeal or investigation request paperwork within a certain time frame, completely resubmit your application for financial aid or attend a hearing.
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Wait for the decision, and then proceed as directed by the institution or lender. If the institution or lender decides to reinstate your aid, make note of any new terms, and find out if you can receive the aid retroactive to the date of termination.
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Tips & Warnings
Most institutions or lenders will not speed up the appeal or investigation process if you're dealing with a termination based on actual failure to meet the terms of a financial aid agreement.
In addition, is unlikely you will receive retroactive payments if reinstated after failing to comply with the original terms.
You may face restrictions or limitations to complete the reinstatement process. For example, if you're dealing with educational financial aid and changed your program, a school may require that you pay so much out-of-pocket before you can receive aid again or may only consider a reinstatement based on class hours from the previous program that counted toward the new one. You will likely need to have marks at or higher than a satisfactory level within the new program.
