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
Title IV funds are federal student aid (FSA) funds administered by the U.S. Department of Education. They include Federal Pell Grant, Iraq Afghanistan Service Grant (IASG), Federal Supplemental Educational Opportunity Grant (FSEOG), TEACH Grant, Direct Loans (Subsidized Direct Loan, Unsubsidized Direct Loan, and Direct PLUS loan), and Perkins loan. FSA funds are awarded to a student under the assumption that the student will attend the University for the entire period for which the assistance is awarded. When an FSA recipient withdraws from the University prior to the end of a payment period, a Return of Title IV (R2T4) calculation will be performed to determine the amount FSA funds earned as of the date of withdrawal. Neumont University uses a third-party processor to assist with this calculation.
If the total amount of FSA funds earned is less than the amount of FSA funds disbursed to the student or parent, for a Direct Parent PLUS loan, the difference or unearned funds will be returned to the applicable FSA programs. However, if the total amount of FSA earned is greater than the amount disbursed to the student or parent, for a Direct Parent PLUS loan, the student may be eligible to receive a post withdrawal disbursement (PWD) of the earned FSA funds.
An R2T4 calculation will not be performed if an FSA recipient withdraws after completing the payment period (term) and all FSA funds have been disbursed. Students with a withdrawal date that occurs up through the completion of 60% of a payment period are eligible for a prorated portion of the FSA funds disbursed. Students with a withdrawal date that occurs after completing more than 60% of the payment period earns 100% of the FSA funds.
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.