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Refund Policy for Financial Aid Recipients

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This policy applies to students who withdraw from the semester, either officially or unofficially, or are administratively dismissed. Tuition and fee refunds for these students are determined according to the following policy:

1) The term "Title IV Funds" refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and at USI includes the following programs: unsubsidized Stafford loans, subsidized Stafford loans, Parent PLUS loans, Federal Pell Grants, Academic Competitiveness Grants, National SMART Grants, and Federal (FSEOG) Supplemental Educational Opportunity Grants.

2) A student's withdrawal date is the earlier of:

• the date the student began the institution's withdrawal process (as described in the University bulletin) or officially notified the University’s Registrar of intent to withdraw; or
• the midpoint of the period for a student who leaves without notifying the institution; or
• the student's last date of attendance at a documented academically-related activity.

Note: Medical Withdrawals and the Return of Title IV Funds - Students who are granted medical withdrawal are treated in the same manner as students who withdraw from the college.

3) Refunds and the Return of Federal Funds

• Refunds of tuition, campus service fees, parking fees, and special fees will be prorated on a weekly basis through the fourth week of the Fall and Spring Semesters (eighth day of a summer session). There are no refunds of tuition and fees to students or to non-federal entities after that point in time.
• Refunds of room and board charges will be prorated on a per diem basis through the fourth week of the Fall and Spring Semesters (eighth day of a summer session). There are no refunds of fall or summer room and board charges to students or to non-federal entities after that point in time. Exception: The Residence Life contract does not permit prorated housing refunds in the Spring Semester. Any student who withdraws in the Spring Semester is charged the full housing contract buy-out fee regardless of the date of withdrawal.

Notes: Residence Life may assess penalties and damage charges that could reduce the amount of the refund. Declining balance food plans are non-refundable.

• Title IV federal aid is earned in a prorated manner on a per diem basis based on the semester calendar up to the 60% point in the semester or summer as a whole. Title IV federal aid is viewed as 100% earned after that point in time.
• Students withdrawing by the close of business on the census date for a given term will receive a 100 percent refund minus room and board charges. In the fall and spring, the census date is the end of the first week of classes.
• Refunds will be sent to students’ mailing (permanent) addresses following withdrawal. Adjusted bills will be sent to the students’ email addresses.
• There are no refunds for incomplete independent study or distance education courses.
• There are no room or board refunds for enrolled students withdrawing from the room or board plans after the fourth week of the semester (eighth day of a summer session).
• Room and board charges will be adjusted for students enrolled in approved academic off-campus activities such as study abroad, internships, co-op placement, and field placement.
• In accordance with federal regulations, when federal financial aid is involved, refunds are allocated in the following order: unsubsidized Stafford Loans, subsidized Stafford Loans, Parent PLUS loans, Federal Pell Grants, Federal SEOG, other Title IV federal assistance, other federal sources of aid, other state, private and institutional aid, and finally, the student. Note: Generally, all semester charges must have been paid in full at the time of withdrawal for a student to receive a refund.

4) The University’s responsibilities in regard to the return of Title IV funds include:

• providing each federal financial aid recipient with the information given in this policy;
• identifying students who are affected by this policy and completing the Return of Title IV Federal Funds calculation for those students; and
• making required returns of Title IV federal funds that are due the Title IV programs.

5) The student's responsibilities in regard to the return of Title IV funds include:

• notifying the University’s Registrar of intent to withdraw (must provide proof of identity);
• following the University’s prescribed procedures for officially withdrawing from the semester; and
• returning to the Title IV federal programs any funds that were disbursed directly to the student for which the student was determined to be ineligible.

6) Schedule Changes Refunds of tuition and instructional fees resulting from a change in enrollment status (for example, from full-time to half-time) will be returned to the financial aid program or programs which originally paid the tuition/fees. Other refunds will be made by check to the student or other payee through the fourth week of the semester or eighth day of a summer session. Note: Student accounts which are not paid in full at the time of withdrawal may not receive a refund or may receive only a partial refund.

7) Excluded Charges
Charges that are excluded from refund calculations under this policy
include:

• unpaid charges for the current semester or summer session;
• institutional charges for prior terms;
• housing deposits;
• proprietary (Sodexo) declining balance food plans;
• lab breakage fees (and other refundable deposits);
• admission fees;
• matriculation (orientation) fees;
• textbooks;
• charges for non-returnable supplies and equipment;
• penalty charges such as parking, library, and video fines; and
• late registration fees.

Non-Attendance Procedure Students who receive financial aid and do not attend classes will be required to promptly repay all funds received. Non-attending recipients of student loans will have their loans cancelled and all disbursed loan amounts will be due and payable in full within 30 days. Failure to repay this debt will result in an adverse report on the student’s credit history and eligibility to enroll at USI will be revoked. 

9) The University reserves the right to apply any refund due a student to the repayment of institutional loans or book charges.

Any notification of a withdrawal or cancellation of class schedule should be in writing, signed, and addressed to the University’s Registrar Cancellation of admission applications (prior to enrollment in classes) should be in writing, signed, and addressed to the University’s Director of Admission.

If you believe that your individual circumstances warrant that your charges or refund should be determined in a manner other than described in USI’s published policies, please contact the Bursar’s Office in writing to explain your circumstances or justification for an exception. The outcomes of application of the institutional refund policy may be appealed in writing to the University’s Administrative Appeals Committee.

Disclaimer: The fees, procedures, and policies listed above supersede those published previously and are subject to change at any time when required by changes in federal regulations. This policy reflects the University’s good faith effort to interpret federal regulations that have a bearing on such matters.

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