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How will a voluntary withdrawal show up on my transcript?

It depends on when you withdraw. If you withdraw prior to the end of the registration revision period, the course may not show up on your transcript at all. If you withdraw after a certain date (established by the host institution), your transcript will show a VW on that course. If you drop the course even later, it will show as an F (or an equivalent). Courses that are not dropped by the VW deadline will receive a final grade. Check the institution's course calendar for more information.