It depends.
If you are dropping or withdrawing from a class but NOT dropping to 0 units, you may trigger an overpayment. If you have received your second disbursement of Pell funds, or if you have not been disbursed the first Pell payment, you will not trigger an overpayment.
If you are dropping or withdrawing (excused or unofficial) your only class or all your classes, i.e., dropping to 0 units, you may trigger a type of overpayment known as a Return to Title IV (R2T4). R2T4s can require students to pay back significant amounts of cash aid; other times, students are actually paid additional aid after they exit. The exact details depend on the amount the student has been paid as well as the exact timing of when they drop or withdraw from their last class.
Dropping a class at any time after the last day to receive a refund affects your Satisfactory Academic Progress (SAP). One of the three criteria for SAP, along with maximum timeframe and GPA, is Pace of Progression. You need to pass 67% of all attempted classes to maintain eligibility for most forms of financial aid. While Ws and EWs do NOT affect your GPA, virtually all drops and withdrawals DO affect Pace of Progression. You can review your current SAP status in detail at the Satisfactory Academic Progress tab of your FalconNest Financial Aid Dashboard.
As a precaution, we recommend obtaining documentation of the last day you were in class or interacted with an online class before you withdraw.
SAP standards are complex and can have exceptions. For more detailed information on SAP, please see the FAQ question on SAP, our full SAP policy.
R2T4s are highly complex and have some exceptions. Visit our R2T4 policy page for more information.