Cancellations, Withdrawals and Refund Policy

Cancellations

The applicant’s signature on the Neumont Application for Admission does not constitute admission into the institution until the student has been accepted for admission by the Neumont College Admission Committee. Once accepted, a student must sign an Enrollment Agreement in order to attend courses. The Student has the right to cancel enrollment, without penalty or obligation within three days of signing the Agreement. Upon cancellation within three days, all monies paid will be refunded.  After the initial three days, an enrolled student may request cancellation of his or her enrollment by providing written notification to the Office of the Registrar any time prior to and throughout the add/drop period of the Student's first scheduled quarter The refund is made within 30 days of receipt of such notice. First-time students who discontinue within the add/drop period are entitled to a refund of all monies paid, excluding nonrefundable fees and deposits.

The add/drop period concludes at 5:00 PM Mountain the third scheduled day of the Student's first quarter. For Non-degree seeking students, the Cancellation Period is the fifteenth calendar day of the first term of attendance. Students who terminate enrollment after the add/drop or Cancellation Period are entitled to a partial refund in accordance with the Institutional Refund Policy.

Withdrawals and Refunds

Neumont 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 Office of 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 Office of the Registrar.

Any monies due a student shall be refunded within 30 days of the date on which the school 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 Office of 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.

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 institution for the entire period for which the assistance is awarded. When an FSA recipient withdraws from school 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 uses a third-party processor to assist with this calculation.

Return of Funds Calculation

An R2T4 calculation will not be performed if an FSA recipient withdraws after completing the payment period and all FSA funds have been disbursed. Students with a withdrawal date that occurs through the completion of sixty (60) percent 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 sixty (60) percent of the payment period earns one hundred (100) percent of the FSA funds. In compliance with federal regulations, the College will determine how much federal student financial aid the student has earned or not earned when a student who is a Title IV recipient withdraws.

The amount earned will be based on the percentage of the quarter that was completed in days up to and including the date of withdrawal. To calculate the amount earned, the College will determine the percentage by dividing the number of calendar days completed in the quarter by the total number of calendar days in the quarter.

If there is a scheduled break of five days or more, it will reduce the length of the quarter and if the scheduled break of five days or more occurs before the student's date of withdrawal, it will also reduce the number of calendar days completed.

If the student received more than the amount of federal student financial aid earned, the difference will be returned to the federal programs from which the funds were received. Excess federal student financial aid is returned by the College in the following order: Federal Direct Unsubsidized Loans, Federal Direct Subsidized Loans, Federal Direct PLUS Loans, Federal Pell Grant, and Federal SEOG.

Federal student financial aid funds will be returned to the aid source within forty-five (45) calendar days of the date the College determines the student has withdrawn.

The student may be required to return part of the unearned federal student financial aid funds. Any loan funds to be returned must be returned in accordance with the terms of the Master Promissory Note (MPN). If grant funds must be returned, the student must return any amount in excess of fifty (50) percent of the amount of grant funds originally received. For more information about student responsibilities in the return of funds, the student should refer to 34 C.F.R. § 668.22(h).

Post-Withdrawal Disbursement

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.

If the post-withdrawal disbursement includes loan funds, Neumont must obtain the student’s permission before it can disburse the loan. Students may choose to decline some or all the loan funds so that s/he does not incur additional debt. A notice will be sent to the student, and the signed, original document must be returned to Neumont within 14 days.

Neumont may automatically use all or a portion of the post-withdrawal disbursement of grant funds for tuition and fees. However, Neumont requires the student’s permission to use the post-withdrawal grant disbursement for all other school charges. If the student does not give his/her permission, the student will be offered the funds. It may be in the student’s best interest to allow the school to keep the funds to reduce the student’s debt with Neumont.

Unofficial Withdrawal

If the student ceases attendance without providing official notification (unofficial withdrawal), 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.

If the student is unable to begin the institution’s withdrawal process or otherwise provide official notification of their intent to withdraw because of illness, accident, or other such circumstances beyond the student’s control, a third party may provide notice to the Office of 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.

Institutional Refund Policy

For an enrolled student who terminates their enrollment prior to completing 60 percent of the quarter, the College will perform a pro rata refund calculation. If a student has completed more than 60 percent of the quarter. the student will receive no refund.

Under a pro rata refund calculation, the College 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 attended (based on the official or unofficial date of withdrawal) by the total number of weeks in the quarter.

There are ten (10) weeks in each quarter. The percentage of weeks is multiplied by the institutional charges for the quarter. Examples are indicated below:

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 they attended as well as ensuring a timely return of federal funds and any other refunds that may be due. Failure of a student to provide official notification to Neumont of the intent to withdraw means that the student 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 understands 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 they 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 canceled by the school
• Involuntary call to active military duty
• Exceptional circumstances, with approval of the school president, or their designee