Minnesota Legislature
Office of the Revisor of Statutes
Minnesota Administrative Rules
4850.0016 NONENROLLMENT, TRANSFER, AND WITHDRAWAL.
Subpart 1.
Nonenrollment.
A school shall return a payment to the commissioner for a student who fails to enroll within 30 days of the payment date.
Subp. 2.
Withdrawal and transfer to another eligible school.
If the student fails to complete the loan period at the school where the loan application was certified and transfers to another eligible school, any remaining scheduled disbursements must be canceled. The school must immediately notify the commissioner of any borrower who withdraws for any purpose. The student may apply for any remaining loan eligibility at the other eligible school, assuming the amount approved is at least $500.
Subp. 3.
Withdrawal.
In the event that a borrower, for any reason, fails to complete a loan period, withdraws, and the school calculates a SELF refund for the borrower, that refund must be returned to the office for the SELF loan program within 30 days of the date the school becomes aware of the withdrawal. Refunds to the office are determined by items A and B.
A.
Determine the percentage that the SELF loan represents of the student's total nonfederal financial aid package for the applicable term.
B.
Multiply that percentage by the amount determined to be refunded to nonfederal aid providers under the school's refund policy. The result yields the amount to be refunded to the office.
Subp. 4.
Reduction of enrollment to less than half-time status.
The school shall notify the commissioner immediately when a student reduces enrollment below a half-time status, but remains enrolled.
History:
10 SR 1852; 13 SR 128; 15 SR 1780; L 1995 c 212 art 3 s 59; 20 SR 2214; 26 SR 1333; 35 SR 1092; L 2013 c 99 art 2 s 29
Published Electronically:
July 1, 2013
Official Publication of the State of Minnesota
Revisor of Statutes