萝莉社

Policies for Withdrawn Students

If you choose to withdraw from 萝莉社, you must complete a withdrawal form and return it to Student Accounts. This will assist you in notifying all the appropriate offices of your intent to leave, and make sure you have fulfilled any obligations you have to the University. You may indicate either a leave of absence (one year or less) from your studies or a more permanent withdrawal using this form.

Billing Policy for Withdrawn Students

If you withdraw during the fall or spring semester or quad, you are eligible for a聽refund of tuition and fees聽based on the following schedule:

• Withdraw prior to the start of the class and/or before the end of week one: 100% refund

• Withdraw before the end of week two: 80% refund

• Withdraw before the end of week three: 60% refund

• Withdraw before the end of week four: 50% refund

• If you withdraw from a class or all classes after week four, there will be no refund

If you are a traditional undergraduate and withdraw during the summer semester or quad, you are eligible for a聽refund of tuition and fees聽based on the following schedule:

• Withdraw prior to the start of the semester: 100% refund

• Withdraw before the end of week one: 50% refund

• If you withdraw from a class or all classes after week one, there will be no refund

Housing Policy

Housing and Food charges are refundable at the same rate as tuition and fees:

If you withdraw from 萝莉社 prior to the start of a semester, or before the end of the first week of a semester, you are eligible for a 100% refund of housing and food charges.

If you withdraw after the start of the second week of a semester, you are eligible for a refund of housing and food based on the following schedule (assuming a 16-week semester).

• Withdraw before the end of week two: 80% refund
• Withdraw before the end of week three: 60% refund
• Withdraw before the end of week four: 50% refund
• If you withdraw after week four, there will be no refund

Financial Aid Policy for Withdrawn Students

If you receive any federal financial aid* and withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a semester, you will have your financial aid recalculated based on the “Return of Title IV Funds” (R2T4) formula derived from the 1998 Reauthorization of Higher Education Act. After this recalculation, the University may be required to return all or some of the aid you were awarded, which could result in a balance on your student account.

The return of federal aid funds is based on the premise that students earn their financial aid in proportion to the amount of time they are enrolled. A prorated schedule is used to determine the amount of federal aid funds a student has earned at the time of the withdrawal. A student who withdraws in the second week of classes has earned less of his/her financial aid than a student who withdraws in the fifth week. Once 60% of the semester is completed, a student is considered to have earned all of his/her financial aid and will not be required to return any funds. Refunds from the University to the student for payments made are issued according to the schedule at the top of the page.

If you drop courses before the 60% mark of the semester, you are subject to the R2T4 calculation and, if loans or Pell dollars were disbursed for the semester, it is possible that you have not 鈥渆arned鈥� the amount of funds you have received, and you and the University will need to return those funds.

Federal financial aid is returned to the federal government based on the percent of unearned aid using the following two formulas:

Percent earned = Number of completed days up to the withdrawal date** divided by the total days in the semester

Aid to be returned = (100% – percent earned) multiplied by (the amount of aid disbursed).

For example, a student who received a first-year Stafford Loan and withdraws at the end of week 3 of the semester would return aid as follows:

• Percent earned = 15 completed days/80 semester days = .1875 = 18.75%
• Aid to be returned = (100%-18.75%) x ($5,500)
• Aid to be returned = 81.25% x 5500
• Aid to be returned = $4,468.75

When aid is returned, you may owe an outstanding balance to the University. In this case, you are responsible for contacting Student Accounts at studentaccounts@northpark.edu to make payment arrangements.

* Federal financial aid includes and is returned in the following order: Unsubsidized Stafford Loan, Subsidized Stafford Loan, Perkins Loan, PLUS Loans, Pell Grant, Supplemental Educational Opportunity Grant.

** Your withdrawal date is defined as the actual date that you began the institution’s withdrawal process, your last date of recorded attendance, or the midpoint of the semester if you leave without notifying the institution.

Time Frame for Return of Title IV Funds/Post-Withdrawal Disbursements

The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.

If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 45 days of the student’s withdrawal.

Dropping Quad Classes

Effective July 1, 2011, the U.S. Department of Education instituted new regulations that govern the Return of Title IV Funds (R2T4) calculation for students enrolled in modular courses that do not span the entire semester. For example, any course in Quad A or Quad B is considered a modular course. Title IV aid includes federal Stafford Loans and Pell Grants. The new regulation only affects students who drop or withdraw from courses they were scheduled to complete.

Because each student鈥檚 situation is unique, we urge students enrolled in graduate or undergraduate programs that utilize quad classes to contact the Financial Aid Office聽if you (a) access Stafford Loans and/or Pell Grants and (b) are considering dropping a course(s) prior to the 60% mark of the semester.