2009-2010 Undergraduate Catalog

Refund Policy

Students will be refunded 100% of their previously paid tuition, room and board, and college fee if the Registrar receives written notice that the student has withdrawn from the College or begun a leave of absence before the first day of classes.

For a student withdrawing from the College or embarking on a medical or psychological leave of absence on or after the first day of classes, refunds of tuition, room and board occur according to a pro rata schedule available in the Controller’s Office. Fall and spring breaks are not included in the calculation of refund weeks. Note that Student Government Association dues are non-refundable.

The date the student began the withdrawal process by contacting the Dean’s Office orally or in writing is considered the date of withdrawal for College refunds and for the return of Title IV funds. When a student continues to attend classes or other academically related activity after beginning the withdrawal process, the College may choose to use the student’s last date of documented attendance at an academically related activity as the date of withdrawal. For a student who leaves the College without notifying the College of her intent to withdraw, the College normally uses the student’s last date of documented attendance at an academically related activity as the date of withdrawal. If that date cannot be ascertained, the College will consider the midpoint of the enrollment period to be the date the student withdrew.

When a Student Withdraws

Treatment of Title IV Federal Aid When a Student Withdraws

This policy applies to all students receiving Federal Pell Grants, Federal Stafford Loans, Federal PLUS Loans, Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Perkins Loans, Federal Academic Competitive Grants (ACG), Federal National Science and Mathematics Access to Retain Talent Grants (National SMART Grants), and in some cases, state grants.

When a recipient of Title IV Federal grant or loan assistance withdraws or takes a leave of absence from the College during the semester, the College must determine per a federal formula, the amount of federal aid that the student may retain as of the withdrawal date. Any federal aid that the student is eligible to receive, but which has not been disbursed, will be offered to the student as a post-withdrawal disbursement. Any federal aid the student is not eligible to receive according to the federal refund policy will be returned to the federal government.

The student is entitled to retain federal aid based on the percentage of the semester she has completed. As prescribed by federal formula, the College calculates the percentage by dividing the total number of calendar days in the semester into the number of calendar days completed as of the withdrawal date. Fall and spring breaks are excluded as periods of nonattendance in the enrollment period. Once the student has completed more than 60% of the semester, she has earned all of the Title IV assistance scheduled for that period.

The amount of Title IV assistance not earned is calculated by determining the percentage of assistance earned and applying it to the total amount of grant and loan assistance that was disbursed. The amount the school must return is the lesser of:

• the unearned amount of Title IV assistance or

• the institutional charges incurred for the period of enrollment multiplied by the unearned percentage.

The order of return of Title IV funds is:

• Unsubsidized Federal Stafford Loans

• Subsidized Federal Stafford Loans

• Federal Perkins Loans

• Federal PLUS Loans

• Federal Pell Grants

• Federal Academic Competitiveness Grant

• Federal National SMART Grant

• Federal Supplemental Education Opportunity Grants (FSEOG)

• Other Title IV assistance

If the College has issued a refund of Title IV funds in excess of the amount the student has earned prior to the withdrawal date, the student is responsible for repaying the funds. Any amount of loan funds that the student (or the parent for a PLUS Loan) has not earned must be repaid in accordance with the terms of the promissory note, that is, the student (or parent for a PLUS Loan) must make scheduled payments to the holder of the loan over a period of time. Any amount of unearned grant funds is called an overpayment. The amount of a grant overpayment that the student must repay is half of the unearned amount. The student must make arrangements with the College or the Department of Education to return the unearned grant funds.

The calculation of Title IV Funds earned by the student has no relationship to the student’s incurred charges. Therefore, the student may still owe funds to the College to cover unpaid institutional charges.

A leave of absence is treated as a withdrawal and a return of Title IV funds may be calculated. A student may take a leave of absence from school for not more than a total of 180 days in any 12-month period.

The calculation of the Title IV refund will be done by the Financial Aid Office in consultation with the Controller’s Office.

Deadlines for Returning Title IV Funds

The amount of the refund allocated to the Federal Stafford Loan and Federal PLUS Program will be returned by the College to the appropriate lender within 60 days after the student’s withdrawal dates, as determined by the school.

The amount of the refund allocated to Federal Pell Grant, Federal SEOG, and Federal Perkins will be returned by the College to the appropriate federal program accounts within 45 days of the date the student officially withdrew or was expelled, or within 45 days of the date the College determined that the student had unofficially withdrawn.

The amount of the refund, if any, allocated to the student will be paid within 45 days of the student’s withdrawal date or, if the student withdrew unofficially, the date that the Dean’s Office determined that the student withdrew.

Treatment of College Grants When a Student Withdraws

The amount of College grant funds a student will retain is based on the percentage of the period of enrollment completed.

Treatment of State Grants When a Student Withdraws

The amount of the state grant funds a student will retain is based on the individual refund policy prescribed by the issuing state.