Refunds are calculated upon official withdrawal from all classes and, if the student was deemed eligible for Title IV, Higher Education Act (HEA) student financial assistance program funds, any refund due will be paid within 45 days from the date the student is determined to have withdrawn.
A student who officially withdraws up to the 60 percent point in time of the semester will incur an adjustment to the amount of financial aid program funds awarded and/or disbursed for the term based on the percentage of time attended from the first day of class to the University’s determination date of withdrawal. If a student officially withdraws after the 60 percent point in time of the 14-week semester, 100 percent of the student’s financial assistance program awards are considered earned and will be applied to the total amount of institutional charges due for the term. The refund order of Title IV, HEA program funds (as applicable to the student) is: Unsubsidized Direct Loans; Subsidized Direct Loans; Direct PLUS Loans; Federal Pell Grants; and, Federal Supplemental Educational Opportunity Grant (FSEOG).
For a student who unofficially withdraws during a semester, the withdrawal date shall be the end of the semester. The student is then responsible for all tuition charges due resulting from this reduction in awards and/or payments previously credited to the student’s account.
In the event that the financial aid recalculation results in an amount to be returned that exceeds the school’s portion, the student will be required to repay some funds directly to the U.S. Department of Education.
In the event that a financial aid recalculation results in all outstanding tuition and fees being paid, resulting in a credit balance on the student’s account, this credit balance will be refunded to the student within 14 days of the financial aid recalculation date. All refunds are sent by check via U.S. mail.
In accordance with federal regulations, if a student receives all F grades during a semester, the University is required, at the best of its ability, to perform an attendance review to determine if a student ceased attendance during the semester. If it can be definitively determined that a student stopped attending prior to the 60 percent point of the semester, as indicated above, the student will incur an adjustment to the amount of financial aid program funds awarded and/or disbursed for the term based on the percentage of time attended from the first day of class to the University’s determination that the student stopped attending.
Post-Withdrawal Disbursements: A student may qualify for a post-withdrawal disbursement of their financial aid if the aid earned is more than the amount disbursed to them. The Financial Aid Office will notify a student of their potential eligibility with a post-withdrawal notification letter, sent both email and U.S. mail. The student will have 14 days from the date of the letter to accept or decline the post-withdrawal disbursement. If no response is received from the student, the post-withdrawal disbursement will be forfeited. The University will offer any post-withdrawal disbursement of loan funds within 30 days of the date the school determined the student withdrew. The University will also return any unearned funds and make a post-withdrawal disbursement of grant funds within 45 days of the date the school determined the student withdrew. Finally, if a student withdraws and is entitled to a post-withdrawal disbursement it will be applied to charges still owed to the University, and any excess will be refunded to the student.