Students returning to the University of Arkansas after an absence of five or more years may be eligible to declare academic bankruptcy if they meet the following criteria:

1. Must have been enrolled previously at the University of Arkansas, Fayetteville, as an undergraduate student and be returning as an undergraduate student.
2. Must not have been enrolled at the university during the previous five years.
3. Students who have attended another institution since their last attendance at the university must meet requirements for transfer students (2.00 GPA on all coursework attempted more than five years after last enrollment at the University of Arkansas, Fayetteville) to be eligible for readmission.
4. Must submit an application for readmission and official transcripts of all college work attempted since last attendance at the University of Arkansas by the application deadlines and submit a Declaration of Academic Bankruptcy form to the Office of the Registrar. The following are the conditions of academic bankruptcy:
   1. Students will forfeit all credit hours previously awarded by the University of Arkansas, Fayetteville. This includes course work completed at the university (regardless of grades earned), courses accepted in transfer, credit by examination, and any self-paced (correspondence) course work awarded.
   2. A new calculation of GPA and credit hours will begin when the student returns to the University of Arkansas.
   3. The transcript will reflect the student’s complete record (including all previous college work) with an added notation of “Academic Bankruptcy Declared.”
   4. Courses taken at another institution within five years of the last University of Arkansas enrollment will not be accepted for transfer. Coursework completed more than five years after last attending the University of Arkansas may be accepted in transfer, subject to university transfer credit policies. For purposes of this policy, University of Arkansas self-paced (correspondence) coursework will be treated in the same manner as transfer work.
   5. For the university to provide appropriate advising and (as required by Arkansas Act 1052) appropriate assessment, a student may be required to submit ACT, SAT, or ACT COMPASS test scores prior to registration for classes if, as a result of academic bankruptcy, that student is returning to the university as a freshman with fewer than 24 transfer hours.