This schedule applies to tuition only; it does not apply to other charges, such as technology fees, administrative fees, course fees, laboratory fees, etc. In the fall and spring terms, a tuiton refund may only be issued for a complete withdrawal from all courses in the semester; refunds are not issued for individual course withdrawals. Tuition refunds may be issued for individual course withdrawals in the Summer term, based on the Tuition Refund schedule.
| Fall/Spring | Percent of Tuition Refund for Complete Withdrawal |
|---|---|
| First Week | 100 |
| Second Week | 80 |
| Third Week | 40 |
| Fourth Week | 20 |
| After Fourth Week | None |
| Summer | ||||
|---|---|---|---|---|
| Length of Summer Courses | Latest Date To Drop | Percent of tuition refund for Course Withdrawal (W grade) |
||
| Weeks | 100% Refund | 60% Refund | 20% Refund | 0% Refund |
| At the Conclusion of: | ||||
| 8+ | 1st week | 2nd week | 4th week | 5th week |
| 6-7 | 1st week | 2nd week | 3rd week | 4th week |
| 5 | Day after 1st class day | 1st week | 2nd week | 3rd week |
| 4 | Day after 1st class day | 3rd class day | 1st week | 2nd week |
| 3 | Day after 1st class day | N/A | 3rd class day | 1st week |
| 2 | 1st class day | N/A | 3rd class day | 4th class day |
| 1 | 1st class day | N/A | N/A | 2nd class day |
Return of Title IV Funds Policy
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.
If a student leaves the institution prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
- Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.)
- This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
- Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student’s withdrawal.
The institution must return the amount of the Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.
Refunds are allocated in the following order:
- Unsubsidized Direct Stafford Loans
- Subsidized Direct Stafford Loans
- Federal Direct PLUS Loans (Graduate Students)
- Federal Direct PLUS Loans (Parents)
- Federal Pell Grants for which a Return of funds is required
- Federal Supplemental Opportunity Grants for which a Return of funds is required
- Federal TEACH Grant for which a Return of funds is required
- Iraq and Afghanistan Service Grant for which a Return of funds is required