1992-1993 Academic Catalog

190 Financial Information earned is credited monthly. The current rate of interest is 8.0% (annual; monthly rate is .667%). This plan operates automatically as soon as the student has a credit balance of $500 or more on the first day of a calendar month. Prepayments can be made anytime. All payments are credited immediately to the student's account. The College reserves the right to limit the amounts deposited under the PIC-Plan and the right to change the interest rate upon a written notice to all participating students one month prior to the change. Please request a current PIC-Plan brochure from the Admissions or Cashier's Offices for more details. Withdrawals from a Student Account (Credit Balance) A student may withdraw funds from his or her account if the account has a credit balance. Cash withdrawals of $25 or less may be made twice weekly from the cashier's office during regular business hours. No withdrawals are allowed during the week of financial registration. Withdrawals of amounts greater than $25 are issued by check upon request at the cashier's office. Check processing normally requires one or two full business days. Continuing Student Reservation Deposit Refund Full (100%) refunds will be made to continuing students 'who notify the College by July 1 of their cancellation. $100 of the deposit is non-refundable to continuing students who notify the College between July 2 and August 15 of their intention not to return fall quarter. No refunds will be made after August 15. Withdrawal Refunds Tuition and Science Laboratory Fees Students withdrawing from the College before the end of a quarter may request a refund from the Business Office. Refunds may be requested anytime after the beginning of a quarter. The effective date of the withdrawal from the College is the last day of class attendance as determined by the Academic Records Office. Processing of refunds will begin the third week of the quarter. Tuition and science laboratory fee refunds for withdrawal are granted on this schedule. First full calendar week or less . . . . . . . . . . . . 100% Second full calendar week or less ........... 75% Third full calendar week or less . . . . . . . . . . . . 50% Fourth full calendar week or less ............ 25% Over four full calendar weeks . . . . . . . . . No Refund Course offerings changed or deleted by the College entitle a student to a full refund of tuition and related course fees. Students withdrawing from a course or courses will be granted full tuition refunds to apply loward courses added. If the new total hours are fewer than the original total, the above refund schedule will apply. Other Fees All other fees are not refundable except for withdrawal within the first full calendar week of the quarter. Board Board charges will be refunded on a proportionate weekly basis. Board weeks begin on Sunday and end Saturday. Board refunds are computed based on the last day of residency. Full board contracts are required for all students living in the residence halls. There are no partial board contracts available. Room Rooms are reserved for each student for an entire quarter. No refund of room rent is made except in cases of severe illness or incapacity. Written confirmation of the illness or incapacity must be provided by the Director of Patterson Clinic or a physician. Room rent will then be refunded on a proportionate basis. Federal Refund Policy 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 College's refund policy and the student received financial aid under any federal Title IV funds except the college work study program, a portion of the refund shall be applicable to the Title IV programs based on a federal formula. Veterans Training Benefits and Dependents Educational Assistance Cedarville College is approved under Title 38, Chapters 30, 31, 32, 35, and 106 U.S. code for education of veterans and their dependents. Students under Chapters 30, 32, 35, and 106 are required to pay the school for all charges. The Veterans Administration in turn pays them a monthly allowance based upon their training load. Veterans under Chapter 31 are paid a monthly allowance and the Veterans Administration pays the school for tuition fees, books, and supplies. Inquiries concerning eligibility should be directed to the Contact Office of a Veterans Administration Regional Office. Students planning to study under one of the education laws should receive approval prior to enrolling. A Veterans Administration training officer will contact the college in the disabled cases to accomplish this requirement for the student.