/Institutions/Neumont-University/json/2013-2014/Catalog-local.json

/Institutions/Neumont-University/json/2013-2014/Catalog.json

Institutional Refund Policy

The second calculation is to determine how much of the tuition and fees the institution may retain under the institutional refund policy. Students who have completed more than 60 percent of the quarter will receive no refund.

For students who terminate their schooling before completing more than 60 percent of the quarter, the University will perform a pro rata refund calculation.

Under a pro rata refund calculation, the University is entitled to retain only the percentage of charges (tuition, fees, etc.) proportional to the period of enrollment completed by the student. The period of enrollment completed by the student is calculated by dividing the total number of weeks in the term into the number of weeks completed in that period (as of the withdrawal date). The percentage of weeks attended is rounded up to the nearest 10 percent and multiplied by the institutional charges for the quarter.

Any unpaid balance of tuition and fees that remains after calculating the institutional refund policy and returning the amount of unearned financial aid funds, if any, based on the Federal Return of Title IV Funds policy, must be paid by the student to the institution.

Timely notification by the student will result in the student being charged tuition and fees only for the portion of the period of enrollment that he or she attended as well as ensuring a timely return of federal funds and any other refunds that may be due. Failure of students to provide official notification to the University of the intent to withdraw means that the students will continue to be obligated for the tuition and fees and will delay both the return of federal funds to the appropriate programs and the return of any other refunds that may be due.

It is extremely important that the student understand the implications of withdrawing before completing the coursework in the quarter because of its potential impact on the student’s finances. Office of Financial Aid provides assistance to students to determine the exact impact of early withdrawal on their repayment obligations.

If the student (or parent, in the case of a PLUS loan) is eligible for additional funds at the time of withdrawal, the student may receive additional SFA funds.

If the student received more SFA funds than he or she earned under the Federal Return of Title IV Funds policy, the institution, and in some cases the student, is required to return the unearned funds to the Federal program(s) or lender, as applicable.