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Students must be aware that the institutional refund policy may differ from the Return to Title IV policy, and if they received Federal Financial Aid, they may be liable for the return of funds while still owing a debt to JP Catholic. Please carefully review both policies below.
Institutional Refund Policy:
Prior to the first day of instruction, the tuition fee is refunded minus the $100 enrollment fee. Housing is non-refundable.
Students's Right to Cancel:
Any student has the right to cancel the Enrollment Agreement for their program of instruction until the close of business (5:00 PM) on the business day prior to the first class they attend. This Enrollment Agreement includes fees for instruction only. Equipment such as laptops, software, books, or any other goods related to the instruction offered in this Agreement are purchased separately by the student from vendors and are NOT covered by this Enrollment Agreement.
Cancellation shall occur when written notice is delivered to the address of JP Catholic University shown on Page 1 of the Enrollment Agreement. This delivery can be by mail or hand delivery. If the notice is sent by mail, it is effective when postmarked. If a student cancels this Agreement, JP Catholic will refund any money that the student has paid for tuition within thirty days after their Notice of Cancellation is received.
The Institutional refund policy for students who have completed 60% or less of the course of instruction shall be a pro rata refund.
Withdrawal From a Program:
Any student will have the right to withdraw from their program of instruction at any time. The refund policy for students who have completed 60% or less of the course shall be based on a pro rata formula. If a student withdraws from their course after the close of business (5:00PM) of the business day prior to the first class they attend, JP Catholic will remit a refund, within thirty days following their withdrawal. Students are obliged to pay only for educational services rendered. The refund shall be the amount paid for instruction multiplied by a fraction, the numerator of which is the number of hours of instruction which the student has not received but for which they have paid, and the denominator of which is the total number of hours of instruction for which they have paid.
If the amount student has paid is more than the amount they owe for the time they have attended, then a refund will be made within thirty days of withdrawal. If the amount that the student owes is more than the amount already paid, then the student must make arrangements to pay for it. Students with past-due accounts are not entitled to receive final grades, transcripts, a diploma or certificate, and/or other possible University-provided verifications until the balance is paid in full.
Students whose entire tuition and fees are paid by a third party organization are not eligible for a refund.
Refund Example:
A student enrolls in a BS degree program. The student notifies the Registrar on the Friday of the 5th week of the quarter of his/her intention to withdraw. The tuition charged for that quarter is $7,400. Therefore, the tuition applicable to the refund policy = $7,400. The refund schedule, based on the student's date of withdrawal (5 weeks into the 10-week quarter), determines that 50% of the tuition will be refunded to the student and 50% retained by the University. 0.50 (percentage from the refund schedule as of the student withdrawal date) x $7,400 = $3,700 (amount of the tuition refunded to the student). The student refund/university retention of the fees is as follows: $7,400 (amount student paid) - $3,700 (amount University retains) = $3,700 (refund). The student in this example is assumed to have paid cash and received no financial aid.
Return of Title IV Funds Policy:
The Office of Financial Aid is required by federal law to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed or take a leave of absence prior to completing 60% of any payment period (quarter). The Return of Title IV Funds Policy applies to all students who have or could have been disbursed Title IV funds. In accordance with federal regulations, the institution and the student are required to return unearned portions of Title IV assistance.
The return of the funds is based upon the percentage of time the student was attending the University. The withdrawal date used to determine the refund is the date the student began the college's withdrawal process. When the student withdraws during his payment period, the amount of Title IV funds he has earned up to that point is determined by the Federal Return of Title IV funds formula: Percentage of payment period (quarter) completed equals the number of days completed up to the withdrawal date divided by the total days in the payment period of term. Any break of five days or more is not counted as part of the days in the term. This percentage is also the percentage of earned aid.
Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: Aid to be returned equals 100% of the aid that could be disbursed minus the percentage of earned aid multiplied by the total amount of aid that could have been disbursed during the payment period or term.
If the student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a balance to the institution.
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 120 days of the student's withdrawal.
The institution must return the amount of the 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.
Refunds are allocated in the following order:
- PLUS Loans
- Unsubsidized Direct Stafford Loans
- Subsidized Direct Stafford Loans
- Federal Pell Grants