2020-21 Graduate Academic Catalog

2020–21 Graduate Academic Catalog Page 17 Academic Information Financial Information Tuition Refund Schedule Withdraw Withdraw from University from Class 14-Week and 16-Week Classes Week* class begins 100% 100% Week* 1 (first full week) 75% 75% Week* 2 50% 0% Week* 3 25% 0% 12-Week Class 2 weekdays** from start of class 100% 100% 6 weekdays** from start of class 75% 75% 10 weekdays** from start of class 50% 0% 14 weekdays** from start of class 25% 0% 7-Week Classes 2 weekdays** from start of class 100% 100% 4 weekdays** from start of class 75% 75% 7 weekdays** from start of class 50% 0% 9 weekdays** from start of class 25% 0% 4-Week Classes 1 weekday** from start of class 100% 100% 2 weekdays** from start of class 75% 75% 3 weekdays** from start of class 50% 0% 5 weekdays** from start of class 25% 0% For classes 3 weeks or less 2 weekdays** from start of class 100% 100% 3 weekdays** from start of class 0% 0% All other Classes 4% from start of class 100% 100% 10% from start of class 75% 75% 17% from start of class 50% 0% 23% from start of class 25% 0% *A week ends at the close of business (5 p.m.) on Friday. **A weekday is defined as Monday through Friday. A day ends at 5 p.m., Eastern Standard Time. Requests for additional refund may be considered on the basis of a written petition to the Office of the Registrar. Course offerings changed or withdrawn by the University entitle a student to a full refund of tuition and related course fees. Students withdrawing from a course or courses and adding another will be granted a full tuition refund to apply toward courses added. If the new total hours are fewer than the original total, the above refund schedule will apply. Federal Refund In addition to the overall institutional policy requirements, the following regulations mandated by the United States Department of Education are applicable. When a refund is due a student under Cedarville University’s refund policy and the student received financial aid under federal Title IV funds, a portion of the refund shall be applicable to the Title IV programs based on a federal formula, except the University work study program. Prorated refunds will be calculated for all students who withdraw before the expiration of 60% of the term of attendance. A federal refund and an institutional refund will be calculated on all other students who withdraw. Federal Refund Policy for Financial Aid The term “Title IV Funds” refers to the Federal Financial Aid Programs authorized under the Higher Education Act of 1965 (as amended). The following are considered Title IV programs at Cedarville University: • Unsubsidized Federal Direct Loan • Subsidized Federal Direct Loan • Federal Direct Plus Loan (Parent and graduate) • Federal Pell Grant • Federal Supplemental Grant (FSEOG) • Federal TEACH Grant • Iraq and Afghanistan Service Grant A student’s federal financial aid eligibility must be recalculated and these regulations apply when a student fails to complete the period of enrollment for which he/she was charged due to one or more of the following situations: • Change in a student’s schedule, which results in fewer credit hours • Course or courses dropped or withdrawn • Cancellation of a class by the college • Nonattendance or discontinuation of academic activity in a course • Total withdrawal or expulsion from the college As the recipient of Title IV aid, it is the student’s responsibility to earn the aid provided for their period of enrollment. Students who find it necessary to withdraw should contact the Registrar’s office to begin the official withdrawal process. Please refer to the online catalog to determine the student’s withdrawal date. Title IV aid is earned in a prorated manner on a daily basis beyond the 60% point in the semester. Federal regulations state that a student must attend past the 60% point of the semester in order to earn 100% of their federal financial aid. Students are issued financial aid before 100% of their aid is earned. This is in “good faith,” meaning that students are expected to follow through by attending and completing all classes. When a recipient of Title IV aid withdraws from an institution during the semester in which the recipient began attendance, the institution must determine the amount of the Title IV grant or loan assistance (not including Federal Work Study) that the student earned as of the student’s date of withdrawal. Federal regulations mandate that a school perform a “Return to Title IV” calculation for federal aid recipients who withdraw from all classes or receive Financial Aid unearned “F”. This calculation determines how much federal aid a student has earned up to the date of withdrawal. If more assistance is received than what is earned, the unearned funds must be returned. The requirements for the “Return to Title IV” calculations are separate from Cedarville University’s refund policy. In accordance with federal regulations, when financial aid is involved, return of Title IV funds is allocated in the following order: 1. Unsubsidized Federal Direct Stafford Loan 2. Federal Direct Graduate PLUS Loan 3. Other Title IV Assistance