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Refund Policy

For 2014-15

This policy applies to all student withdrawals. Room, activity and health fees are neither pro-rated nor refundable. Students who leave the university will receive a refund of tuition and meal plan as follows:

Fall 2014 Spring 2015 Refund
On or before Aug. 25 On or before Jan. 12 100 percent
Between Aug. 26 and Sept. 5 Between Jan. 13 and Jan. 23 90 percent
Between Sept. 6 and Sept. 22 Between Jan. 24 and Feb. 9 50 percent
Between Sept. 23 and Oct. 20 Between Feb. 10 and March 8 25 percent

No refund will be calculated or made to any student who is suspended or dismissed from the university after the first day of classes in a semester for any reason including academic dismissal.


Federal Title IV Refund Policy

The Office of Financial Aid 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 before completing 60 percent of a payment period or term.

Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formulas:

The percentage of a 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 percent 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 earns less aid than was disbursed, the university is required to return a portion of the funds and the student is required to return a portion of the funds. When Title IV funds are returned, the student borrower may owe a debit balance to the university.

If a student earns more aid than was disbursed, the university is required to make to 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 Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student's withdrawal.

Refunds are allocated in the following order:

  • Unsubsidized Federal Stafford Loans
  • Subsidized Federal Stafford Loans
  • Federal Perkins Loans
  • Federal Parent (PLUS) Loans
  • Federal Pell Grants, for which a return of funds is required
  • Federal Academic Competitiveness Grants, for which a return of funds is required
  • National SMART Grants, for which a return of funds is required
  • Federal Supplemental Opportunity Grants, for which a return of funds is required
  • Federal TEACH Grants for which a return of funds is required

Requesting a Refund

To obtain a refund, a student must notify the Office of the Registrar in writing that he or she is officially withdrawing and provide the last date of class attendance. The form used to officially notify the university may be obtained at the Office of the Registrar. Mere absence from classes does not reduce a student's financial obligation or guarantee that the university will not record a final grade. Note that room charges and student activity and health fees are nonrefundable after classes have commenced. 

Optional Tuition Insurance

Please click on the link below for more information regarding optional tuition insurance. 

https://www.collegerefund.com/apps/details1.asp?Id=1377&DIV=1

 




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