If you withdraw from McGill, you may be required to:
Repay McGill any Direct Loan funds that the University paid on your behalf (as stipulated by US Department of Education regulations), and/or
Repay part or all of your loan(s) to the designated servicer
US Department of Education regulations state that a school must return loan funds if a student has not completed a minimum of 60% of the payment/enrollment period. If a student received more loan funding than was “earned”, the excess funds must be returned by the school and/or the student. The amount of money to be returned is determined by a calculation called “Return to Title IV”. If the student did not receive all of the funds that were earned, the student may be eligible for a post-withdrawal disbursement.
For more information, go to the US Student Aid website at: www.studentaid.ed.gov