2015-2016 Undergraduate Academic Catalog

Federal Refund Policy A portion of Title IV grant or loan funds must be returned to the Title IV programs upon a Title IV recipient’s withdrawal from the school. Withdrawal date The day the student withdraws is the date (determined by the school): • The student began the withdrawal process prescribed by the school; • The student otherwise provided the school with official notification of the intent to withdraw; or • For the student who does not begin the school’s withdrawal process or notify the school of the intent to withdraw, the mid- point of the period of enrollment for which Title IV assistance was disbursed (unless the institution can document a later date). Percentage of the payment period or period of enrollment completed This calculation is derived by dividing the number of days the student completed into the total number of days in the semester. Calculation of Title IV assistance earned Up through the 60% point of time, the percentage of assistance earned is equal to the percentage of the period of enrollment for which it was awarded that was completed as of the day the student withdrew. If the student withdrawal occurs after the 60% point, then the amount is 100%. Responsibility of the school The school shall return the lesser of the unearned amount of Title IV assistance or an amount equal to the total institutional charges the student incurs for the period of enrollment of which the assistance was awarded, multiplied by the unearned percentage of awarded Title IV grant and loan assistance. Responsibility of the student Students shall return unearned Title IV assistance minus the amount the school returns. Order of return of Title IV funds Excess funds returned by the school or student are credited to outstanding Title IV loan balances for the student or made on the student’s behalf for which a return of funds is required. Excess funds must be credited to outstanding balances in the following order: 1. Unsubsidized Stafford loans 2. Subsidized Stafford loans 3. Federal Perkins loans 4. Federal PLUS loans 5. Federal Pell grant 6. Federal SEOG grant 7. Federal TEACH grant Veterans Training Benefits and Dependents Educational Assistance Cedarville University is approved under Title 38, Chapters 30, 31, 32, 33, 35, 1606 and 1607, U.S. Code for Education of Veterans and Their Dependents. Students under Chapters 30, 32, 35, 1606, and 1607 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. Cedarville University is a participant in the VA Yellow Ribbon Program. Those students eligible to receive Chapter 33 Post-9/11 benefits may qualify to receive benefits through the VA Yellow Ribbon program. 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 University in the disabled cases to accomplish this requirement for the student. Cedarville University students eligible for veterans benefits should contact the veterans benefits counselor in the Office of the Registrar. Deferred Payment Plan for Veterans For Option Deferred Payment Plan for Veterans (under Chapters 30, 31, 32, 33, and 35) receiving the Educational Assistance Allowances, consult the Office of the Registrar. Payments by veterans receiving their Educational Assistance Allowance checks one month behind will be as follows: Fall Semester: 1st payment by 10/4 2nd payment by 11/1 3rd payment by 12/1 Final payment by 1/1 Spring Semester: 1st payment by 2/4 2nd payment by 3/1 3rd payment by 4/1 Final payment by 5/1 A late payment charge of $25 is applicable for accounts unpaid after the payment due date. Veterans receive eight monthly VA checks that must pay for eight deferred payments on the semester system. Page 281 2015–16 Undergraduate Academic Catalog Financial Information Financial Information