Return of Loan Funds
Students may return to the Government a portion or the full amount of loan funds disbursed to them. The portion of loan funds returned on a student’s behalf by Westminster do not accrue interest or loan fees. To return funds, print out and complete the linked form and attach a personal check made out to WTS in the amount you would like to return. Present the form and check to the Financial Aid Office or Jeff Thompson in Finance Office. You will be notified by the Financial Aid Office of the date when the funds have been returned to the Government.
Requesting an additional loan
Should you need additional funds during the semester you may request another loan. To do this please email the Financial Aid Office with the amount you would like to take out and when you woudl like to receive the funds. We will contact you to indicate the closest corresponding disbursement date.
Change in enrollment status
If your enrollment status changes, (for example changing from full to part time or withdrawn), your eligibility for financial aid will be recalculated. If it is determined that you are ineligible for the full loan amount awarded, a subsequent loan disbursement will be adjusted or the financial aid office will request that you return a portion of your loan funds which Westminster will return to the Government.
If your enrollment status becomes less than half-time or withdrawn, you will no longer qualify for loan deferment for past and current loans. Current loans may be placed in an "In-Grace" status, unusually lasting 6 months, where loan repayment is not required. The grace period is provided in order that preparations may be made for loan repayment. Since interest will accrue during this time however, repayment is encouraged. Please know that for previous loans that no longer have a grace period, repayment will recommence immediately. If you subsequently become enrolled at least half time you may request to have your loans deferred.
The implications of loan repayment are explained in loan exit counseling, which is required by the government when a student becomes enrolled less than half time (or is withdrawn). This counseling will review your total loan history and explain the repayment terms and options available.
Deferment of loans
From other institutions and/or Westminster - see here