Financial Information

Tuition and Fees

Tuition is billed quarterly and based on the full-time rate, in accordance with the chart below. Tuition and fees are subject to change. Expected length of attendance for undergraduates is ten quarters (twelve quarters for BSGD students), assuming a normal rate of progress. The calendar year contains four quarters. However, an academic year is three quarters.

Undergraduate

Graduate

All Programs

Part Time Students

The minimum full-time course load for undergraduate students is 12 credits per quarter and eight credits per quarter for graduate students. If a student falls below a full-time load, a per unit charge is assessed in place of the quarterly charge described above.

Textbooks

Textbook costs vary each quarter, as they are directly related to the courses for which the student is registered. Textbooks may be purchased through the University's online bookstore, in accordance with official University policies, or through any other textbook vendors. At the time of issuance, textbooks become the responsibility of the student.

Financial Obligation

A student who has begun courses at the University assumes a defined financial obligation. Each student is legally responsible for his or her own educational expenses for the period of enrollment. Tuition and fees for each term are due in full at the start of the term. Students who are unable to pay in full at the start of the term must arrange a payment plan for the balance. Any student who is delinquent in a financial obligation to the University including damage to University property, library fines, or payment of tuition and fees is subject to exclusion from any or all of the usual privileges of a student at the University.

Payment Policy

The University requires that arrangements for payment of tuition and fees for all courses in an academic year be completed in full at the time of registration. Students may choose to pay tuition and fees by check, cash, and/or credit card.

Students eligible for employer-sponsored tuition reimbursement benefits may request a deferred payment plan. Further questions regarding these payment plans should be directed to a representative in the the Office of Financial Aid. 

Students who plan to meet their financial obligations using outside sources of funds, such as federal or private loans, are responsible for providing all information and documentation necessary to obtain all forms of financial aid by the deadlines imposed by the fund source. Failure to do so may result in the student having to provide immediate payment of all applicable tuition and fees.

Financial Assistance Information

Neumont University offers financial assistance to those who qualify. The University participates in various federal and private student financial assistance programs. In addition, the Office of Financial Aid offers institutional aid, which consists of various grants and scholarships offered to accepted and enrolled students who meet defined criteria, such as financial need, merit, transfer credit, residency, or outside scholarship criteria. A complete description of Neumont institutional aid can be found in the Scholarships and Financial Aid section of this catalog. Students should meet with the Office of Financial Aid to discuss their eligibility for institutional aid.

The primary responsibility for meeting the cost of education rests with the student and his or her family. Student aid is awarded on the basis of need regardless of age, sex, race, color, religion, national or ethnic origin, or disability.

Consumer Information

Most of the information dissemination activities required by the Higher Education Amendments of 1998 have been satisfied within the Course Catalog. However, the Office of Financial Aid is available to discuss consumer information in more detail with current and prospective students.

Need and Cost of Attendance

Once the application for student aid is completed, the information is used in a formula established by the U.S. Congress that calculates need and helps determine eligibility. When combined with other aid and resources, a student’s financial aid package may not exceed the student’s calculated cost of attendance (COA.)

Tuition and fees, books and supplies, room and board, transportation, personal expenses, and other education expenses are considered in determining the student’s cost of attendance. Information on how those costs are derived may be obtained from the Office of Financial Aid.

Borrower Rights and Responsibilities

When a student takes on a student loan, he or she has certain rights and responsibilities:

The borrower has the right to receive the following information before the first loan disbursement:

• Full amount of the loan,
• Interest rate,
• Date on which first loan repayment must be made,
• Effect borrowing will have on the student’s eligibility for other types of financial aid,
• Complete list of any charges the student must pay (loan fees) and information on how those charges are collected,
• Yearly and total amounts the student can borrow,
• Maximum repayment periods and the minimum repayment amount,
• Explanation of default and its consequences,
• Explanation of available options for consolidating or refinancing the student loans, and
• Statement that the student can prepay the loan without penalty.

The borrower has the right to receive the following information before leaving school:

• Amount of the student’s total debt (principal and estimated interest), what the student’s interest rate is, and the total interest charges on the loan(s);
• Loan repayment schedule with first payment due, the number and frequency of payments, and the amount of each payment;
• Where to send the student’s payments, and where to write or call if the student has questions;
• Any fees expected during the repayment period;
• Explanation of available options for consolidating or refinancing the student’s loans; and
• Statement that the student can repay loan without penalty.

The borrower has a responsibility to:

• Understand that by signing promissory notes, the student is agreeing to repay the loan according to the terms of the note;
• Make payments on the loan even if the student does not receive a bill or repayment notice;
• Continue to make payments until notification that the request for a deferment or forbearance has been granted;
• Notify the appropriate representative (institution, agency, or lender) that manages the student’s loans when the student graduates, withdraws from school, or drops below half-time status; changes his or her name, address, or Social Security number; or transfers to another institution; and
• Complete exit counseling before leaving school.

Policies and Procedures for Verification of Applicant Information

Some students are selected by the U.S. Department of Education for a process called verification. If selected for verification, the student must provide documentation to support the data elements contained on the Free Application for Federal Student Aid, or FAFSA.

Generally, this documentation includes copies of income tax returns or a certification that a return was not required to be filed, sources and amounts of income, household size, number of family members attending post-secondary schools, dependency status, etc.

The following procedures are in effect for those students who have been selected for verification:

• Selected applicants must submit required verification documents within thirty (30) days of notification;
• Students are informed of their responsibilities regarding the verification of application information, including the institution’s deadline for completion of any actions required;
• Students are given a clear explanation of the documentation needed to satisfy the verification requirements and the process for document submission;
• The institution will inform students in a timely manner of the consequences of failing to complete the verification requirements and the actions the University will take if the student does not submit the requested documentation within the time period specified;
• The institution will assist the student in correcting erroneous information;
• If the student fails to provide the required documentation within the established time frame, the student is treated as a cash paying student until the documents are provided;
• If the student does not meet the deadline and is not capable of making cash payments, he or she may be dismissed from the University. If dismissed, the student may re-enter the University only when he or she can provide the documentation;
• Students are notified if the results of verification change the student’s scheduled award;
• Any suspected case of fraud are reported to the Regional Office of the Inspector General, or, if more appropriate, to a state or local law enforcement agency having jurisdiction to investigate the matter. Referrals to local or state agencies are reported on an annual basis to the Inspector General;
• No interim disbursements of Title IV aid are made prior to the completion of verification.

Entrance and Exit Interview/Loan Counseling

The U.S. Department of Education requires that any student receiving a federal educational loan must be notified concerning his or her loans. The University counsels each student regarding loan indebtedness and gives each student an entrance test and mails an exit interview regarding the loan to ensure that the student understands the amount borrowed and the student’s rights and responsibilities regarding repayment.

The student must report to the Office of Financial Aid prior to withdrawal or graduation for loan counseling. The purpose of this session is to inform the student of his/her tentative total loans received while in attendance, refunds that may be made, and to provide the student with an estimated payment schedule. If the student is unable to meet with the Financial Aid Office, an exit interview questionnaire is mailed.

Cancellations, Withdrawals and Refund Policy

Cancellations

The applicant’s signature on the Neumont University Application for Admission does not constitute admission into the University until the student has been accepted for admission by the Neumont University Acceptance Committee. Once accepted, a student must sign the Enrollment Agreement. An enrolled student may request cancellation of his or her enrollment until the end of the third day of the first term of attendance. The refund is made within 30 days of receipt of such notice. First-time students who withdraw within three calendar days after courses have commenced will not be assessed tuition charges.

Withdrawals and Refunds

The University employs a fair and equitable refund policy that complies with federal, state, and accreditation guidelines for the return of unearned tuition and fees in the event of withdrawal. To withdraw, a student must notify the Registrar.

Whenever possible, the withdrawal is conducted during an in-person appointment with the Registrar. To make an appointment for withdrawal, please contact the Registrar.

Any monies due a student shall be refunded within 30 days of the date on which Neumont University has determined that a withdrawal has taken place. A withdrawal is considered to have occurred on the date that the student completes appropriate withdrawal forms with the Registrar. If the student ceases attendance without providing official notification, the withdrawal date used in the refund and federal Return to Title IV calculation is the last date of attendance at an academically-related activity as the withdrawal date.

If the student is unable to begin the institution’s withdrawal process or otherwise provide official notification of his or her intent to withdraw because of illness, accident, or other such circumstances beyond the student’s control, a third party may provide notice to the Registrar. The date of withdrawal is the date that most accurately reflects when the student ceased academic attendance due to the circumstances beyond the student’s control.

Return to Title IV

This calculation is done only for students who have received Title IV student financial aid and is required by federal law, which specifies the formula for the calculation. Additional information is available at studentaid.gov.

This “Return to Title IV” calculation is made to determine how much federal grant and loan assistance the student has earned under the federal policy. Any unearned funds must be returned to the federal student aid programs.

If it is determined that federal funds must be returned, the return of funds is made in the following order:

1. Federal Direct Unsubsidized Loans
2. Federal Direct Subsidized Loans
3. Federal PLUS Loans
4. Federal Pell Grants
5. Other federal grants or loans

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. The Office of Financial Aid provides assistance to students to determine the exact impact of early withdrawal on their repayment obligations. 

If the student received more Student Financial Aid 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.

Refunds Under Exceptional Circumstances

Tuition and fees for the current term are refunded in full under the following circumstances:

• Courses cancelled by the University,
• Involuntary call to active military duty,
• Exceptional circumstances, with approval of the President of the University, or his or her designee.