Refunds Upon Withdrawal as a Degree Seeking Student
When a student registers, the University assumes full-year enrollment, provides facilities, and executes contracts to provide for the student for the entire year. If a student ceases attendance from all courses registered for the semester, then a withdrawal calculation must be done. If a student attends a course at all, or accepts the Course Evaluation Assessment (CEA) online, that constitutes attendance and the course will be charged.
Withdrawal calculations are made in accordance with Department of Education regulations, regardless of whether the student has federal financial aid. The withdrawal date varies, depending on the date of notice and the attendance of the semester. There are federal guidelines that must be followed in determing the withdrawal date. Tuition, fees, room & board charges, as well as the financial aid, will be pro-rated accordingly. If applicable, the amount of Title IV and other financial aid will be returned to the program source and the charges will be adjusted based on the withdrawal calculation. There is a $100 administrative withdrawal fee.
Upon completion of the withdrawal calculation, a copy will be sent to the student with either a bill or a check, depending on the outcome of the calculation of the student account.
There are two formulas which may be applied:
- The Return of Title IV Funds
- The Return of Institutional, State and Outside Funds
- Calculated as a secondary formula for those who have Title IV funds
- Calculated as the primary formula for those who do not have Title IV funds
A. Return of Title IV Funds (34CFR parts 668 and 682)
Determine the percentage of aid earned by a Title IV recipient by calculating the percentage of the period that the student completed. Use calendar days and exclude scheduled breaks of at least 5 days in length. Beyond 60%, there will be no recalculation of charges or refunds and the student will be charged for the entire semester.
Determine the amount of earned Title IV aid by applying the earned percentage to the total Title IV aid that was or could have been disbursed to the student.
Determine the amount of unearned Title IV aid by subtracting the earned aid from awarded Title IV aid (disbursed or could have been disbursed, excluding Federal Work Study). The difference is the amount of Title IV money that must be returned.
Distribute responsibility for returning unearned aid between the school and the student. (Any portion of the student's share that is allocated to a loan program is repaid under the terms and conditions of the loan as specified in the promissory note.)
Allocate unearned aid back to the Title IV programs. Unearned funds are allocated to the Title IV programs from which the student received assistance, in the following order:
- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal Perkins Loan
- Federal Plus Loan
- Federal Pell Grant
- Federal SEOG Grant
- Other Title IV grant or loan assistance if applicable
The calculated charges, based on the percentage of the period completed, minus the earned Title IV funds, are now submitted to the calculation below which determines how much other assistance must be returned.
B. Return of Institutional, Outside, and State Grant Funds
Determine the percentage of the period that the student completed
Determine the total charges for the payment period by multiplying the percentage of period completed by the total amount of institutional charges (i.e. tuition, fees, and room and board)
- This will be the charge used for the remaining calculations if the student had no Title IV aid.
- If the student had Title IV aid, the amount used for this calculation will be the charge from the calculation above minus the Title IV aid which can be retained as a credit to the student account.
- Deduct the administrative fee of $100.
- Determine the amount of earned non-federal aid by applying the earned percentage (step 1 above) to the total amount of Institutional, Outside, and State Grant Funds that were or could have been disbursed to the student.
- Determine the amount of unearned aid by subtracting the earned aid from aid that was already or could have been disbursed.
- Allocate unearned aid back to other programs in the following order:
- Institutional Grants and Scholarships
- Outside or Private Loans
- Outside or Private Grants or Scholarships
- State Grants
- Determine the amount the student must pay for the percentage of the payment period completed:
$ Pro Rate Charge for period completed (less $100 administrative fee)minus $ Earned Title IV aid (if applicable)
minus $ Earned other aid
equals $ Owed by the student