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How Participating in Campus Protests Could Affect Your Financial Aid
Involvement in college protests could cost you your financial aid and more.
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Kat Tretina is a freelance personal finance writer and certified student loan counselor based in Orlando, Florida. Kat has written about debt repayment, investing and insurance for outlets including Student Loan Hero, The Huffington Post and Business Insider.
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Nationwide, students have organized protests over the Israel and Gaza conflict, urging their colleges to divest holdings of Israeli-connected investments. But participation in a protest could lead to steep — and long-lasting — consequences, including criminal charges and loss of financial aid.
Though free speech is a protected right, protestors can be arrested. The Appeal, a nonprofit news organization, estimates nearly 2,500 campus protestors have been arrested nationwide since April 17.
But arrest isn’t the only potential consequence. For example, Washington University temporarily suspended 23 students after they set up an encampment and were arrested for trespassing. Three Vanderbilt University students were expelled after their involvement in a campus sit-in. In Florida, Gov. Ron DeSantis warned students they could be expelled for protesting.
“While the First Amendment guarantees students the right to speak and even to protest on those campuses, the colleges may maintain reasonable 'time, place, and manner' restrictions on student speech in public areas of campus," says Amanda Nordstrom, a program officer for campus rights advocacy with the Foundation for Individual Rights and Expression.
Student financial aid could also be on the line. Review your college's code of conduct and financial aid agreements to understand what’s at stake. Here’s what you might face.
Lost institutional or state aid
Schools set their own policies regarding institutional financial aid, such as school scholarships or grants. Joseph Lento, an attorney specializing in student discipline defense and the founder of the Lento Law Group, says institutional aid can generally be canceled or denied at the school's discretion if you violate the university's code of conduct — even if you don't violate the law.
"Accepting financial aid and scholarships forms a contractual agreement between the student and the granting institution," Lento says. "As such, violating laws or campus policies can risk the continuation of a student’s financial aid."
States have their own policies, too.
"If a scholarship recipient is disciplined by the school as a result of a protest, they may lose their [state] scholarship as a result," says Lori Wurtzel, a Florida-based attorney and founder of the firm Wurtzel Law. This is especially the case if that discipline is part of an arrest and criminal charge. "For example," says Wurtzel, "Florida's Bright Futures Scholarship is not available to students who enter a plea to a felony charge."
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.19-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 6/30/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Variable APR
4.24-17.99%
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply. (1)All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation. (2)As certified by your school and less any other financial aid you might receive. Minimum $1,000. (3)This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary. Information advertised valid as of 6/30/2025. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
NerdWallet ratingNerdWallet's ratings are determined by our editorial team. The scoring formula for student loan products takes into account more than 50 data points across multiple categories, including repayment options, customer service, lender transparency, loan eligibility and underwriting criteria.
Fixed APR
3.19-16.99%
Lowest rates shown include the auto debit discount. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 6/23/2025. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
Variable APR
4.37-16.49%
Lowest rates shown include the auto debit discount. Advertised APRs for undergraduate students assume a $10,000 loan to a student who attends school for 4 years and has no prior Sallie Mae-serviced loans. Interest rates for variable rate loans may increase or decrease over the life of the loan based on changes to the 30-day Average Secured Overnight Financing Rate (SOFR) rounded up to the nearest one-eighth of one percent. Advertised variable rates are the starting range of rates and may vary outside of that range over the life of the loan. Interest is charged starting when funds are sent to the school. With the Fixed and Deferred Repayment Options, the interest rate is higher than with the Interest Repayment Option and Unpaid Interest is added to the loan’s Current Principal at the end of the grace/separation period. To receive a 0.25 percentage point interest rate discount, the borrower or cosigner must enroll in auto debit through Sallie Mae. The discount applies only during active repayment for as long as the Current Amount Due or Designated Amount is successfully withdrawn from the authorized bank account each month. It may be suspended during forbearance or deferment. Advertised APRs are valid as of 6/23/2025. Loan amounts: For applications submitted directly to Sallie Mae, loan amount cannot exceed the cost of attendance less financial aid received, as certified by the school. Applications submitted to Sallie Mae through a partner website will be subject to a lower maximum loan request amount. Miscellaneous personal expenses (such as a laptop) may be included in the cost of attendance for students enrolled at least half-time. Examples of typical costs for a $10,000 Smart Option Student Loan with the most common fixed rate, fixed repayment option, 6-month separation period, and two disbursements: For a borrower with no prior loans and a 4-year in-school period, it works out to a 10.28% fixed APR, 51 payments of $25.00, 119 payments of $182.67 and one payment of $121.71, for a Total Loan Cost of $23,134.44. For a borrower with $20,000 in prior loans and a 2-year in-school period, it works out to a 10.78% fixed APR, 27 payments of $25.00, 179 payments of $132.53 and one payment of $40.35 for a total loan cost of $24,438.22. Loans that are subject to a $50 minimum principal and interest payment amount may receive a loan term that is less than 10 years. A variable APR may increase over the life of the loan. A fixed APR will not.
You must meet standards for satisfactory academic progress to maintain eligibility for financial aid. These standards are determined by benchmarks your college sets for grades and credits. If you don't pass enough classes or earn enough credits, you could lose financial aid eligibility.
The satisfactory academic progress requirement could pose a surprise to protestors, says Jill Desjean, senior policy analyst with the National Association of Student Financial Aid Administrators, as schools like Columbia University warned student protestors they could lose credit for the current semester.
"If [the colleges] say they're doing away with this term, now you could be potentially bumping up against the [financial aid] eligibility in terms of not progressing towards your degree," Desjean says. You may be ineligible for financial aid as a result.
Federal aid limits
There are strict annual and aggregate loan limits on how much you can receive in Pell Grants and federal student loans, particularly for undergraduate students. If you’re suspended or lose credit for the semester, you could reach your limits before you finish your education.
For example, the aggregate limit for dependent undergraduate students is $31,000. If you need to retake a semester or transfer to another school, you may need to find other sources of financing, such as parent student loans or private student loans.
Student loan repayment
You still have to repay your loans if you’re not allowed to attend school. Federal student loans enter repayment six months after you leave school or drop below half-time status, so you may have to start making payments even if you haven't completed your degree.
Difficult and expensive college transfer
If you're expelled, you may be able to transfer to another college or university to finish your education. However, it's unlikely that all of your credits would transfer, says Desjean.
"Transferring credits isn't a seamless process," she says. "A lot of schools don't accept transfer credits from other colleges, so there's the disruption of trying to find another school to transfer to."
According to the news and analysis website Inside Higher Ed, nationally, students lose 43% of their credits when transferring. This could cause you to lose a lot of progress, leading to thousands of dollars in additional costs to finish your degree.
New legislation that affects your future aid eligibility
Individuals who have been convicted of crimes, incarcerated, and are now on probation or parole are still eligible for federal financial aid, including Pell Grants and federal loans. However, some lawmakers in states including California, Texas and Iowa have introduced legislation to change that. Under the proposed legislation, those who are convicted of crimes related to the protests would be ineligible for aid.
If you want to protest anyway
"It’s important for students interested in engaging in peaceful protest to familiarize themselves with the rules on their campus, as well as educate themselves on the legal basics so they can insist their rights are respected by college administrators and police," Nordstrom says.
You may be able to appeal if you’re involved in a protest and are suspended or lose your financial aid.
"Most university discipline codes allow a student to continue attending classes while a disciplinary decision is being appealed," Wurtzel says. "Conscious timing of appeals may help a student to finish a semester."
Every school has its own process for filing appeals, so consult with your college to learn about next steps. In some cases, a lawyer may help you appeal your case or have your financial aid reinstated on legal grounds.
