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Need guidance with financial aid? Follow these tips.
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The Higher Education Amendments of 1998 make significant changes in the way that students earn federal financial aid throughout the semester. The university believes that it is important that each student be made aware of these changes, and that other important information be set down in one place for easy reference.
This policy is for Capital University students and is not mandated by any federal or state agency nor by any accrediting body to which the university reports.
The refund rates listed here apply to tuition charges only. The refund rates do not apply to housing charges or to financial aid earned. The rates are for the fall and spring semesters for traditional undergraduate and law students, and for all three terms of the Centers for Lifelong Learning, School of Management, and Masters of Nursing programs.
Tuition refund rates will vary for shorter summer terms and other special programs of study. You are encouraged to refer to bulletins and other publications tailored to these programs for information about refund related issues. In all cases the amount of tuition refunded is based on the time between the first official day of the semester in your program of study and your official drop or withdraw date as determined by the university registrar or registrar for your program of study.
The following refund rates apply if you drop or withdraw the following time periods of any semester:
For students who are on the university board program and/or living in university residence halls or apartments, board and room charges will be refunded on a weekly prorated basis. The Residence Life Office must be notified to allow for housing charges to be adjusted properly. You can contact the Residence Life Office at (614) 236-6811.
It is very important that the prescribed withdrawal process be followed if you expect to receive a proper tuition refund and to have the amount of earned financial aid calculated correctly.Every student seeking to withdraw from the university must provide an official notice of intent to withdraw (PDF) to the university registrar or to the office or person responsible for registration in his/her program of study.
It is not sufficient to notify an instructor, advisor, faculty secretary or anyone else not directly involved in processing registrations in your program of study. Notice of intent should be in writing but may be made orally as long as you clearly state your intent to withdraw.
Simply requesting information or a form does not constitute a notice of intent to withdraw. Until an official withdrawal form has been completed and submitted to the appropriate office or individual, you have only begun the process, not completed it.
Your effective date of withdrawal will be the earliest date of:
IMPORTANT: If the withdrawal date is set at the mid-point of the semester because you failed to submit a withdrawal form or provide a notice of intent to withdrawal, the university may consider that you have attended class through the first one-half of the semester. Therefore you may be responsible for all charges incurred for the first half of the semester.
If you feel that the official date of withdrawal does not accurately reflect you circumstances, please contact your dean or program director for assistance.
IMPORTANT: If you find it impossible to make your intent known to the office designated for your program of study, you may notify the university Finance Office at 614-236-6111, fax 614-236-6820 or e-mail email@example.com.
Beginning with the fall semester, students must complete at least 60% of the calendar days of the semester in order to have earned 100% of awarded federal financial aid.
If a recipient of Title IV federal financial aid (Federal Stafford Loan, Federal Perkins Loan, Federal PLUS Loan, Federal PELL Grant, Federal SEOG Grant) completely withdraws from the university prior to having completed at least 60% of the calendar days of the semester, a portion of the federal aid received will have to be returned to the appropriate federal aid programs by the school, student or both.
The percentage of federal aid "earned" is equal to the percentage of days completed out of the total number of calendar days in the semester, beginning with the official start date of the term through the last day of classes.
Breaks of five (5) days or more are excluded for this percentage calculation. The number of days completed is based on the official withdrawal date as determined by the university. Please refer to the section titled Withdrawal From The University above for guidance on the process of establishing a date of withdrawal.
The university will be responsible for determining the amount of federal financial aid that is unearned and must be returned to the appropriate aid program.
Unearned Title IV aid must be returned in the following order: 1. Unsubsidized Stafford loan 2. Subsidized Stafford loan 3. Perkins loan 4. PLUS loan 5. FPELL grant 6. FSEOG grant 7. Other Title IV assistance
In some instances the student may be required to repay some of the Title IV aid he or she received for non-institutional charges. Also in some cases, a student may be eligible for a late disbursement of awarded aid if the amount of aid received is less than the amount earned at the point of withdrawal.
Non-Title IV financial aid is not affected by this calculation of earned aid. State, institutional and private assistance will be subject to the normal refund guidelines established for the program or by the donor.If you believe that you may be due a refund after all the calculations described here, it is important that you complete a Refund Request Form (PDF) and return it to the Finance Office.
If you are required to return unearned funds, you will be notified by the Financial Aid Office. If you are eligible for a late disbursement of earned aid, you will be notified by the Financial Aid Office.
Many of your questions can best be answered by persons in your program of study; however, the university's Financial Aid and Finance Offices have each designated an individual to assist you with questions:
Molly Baumann in the Financial Aid Office at 614-236-6511MaryAnn Lutz in the Finance Office at 614-236-6111
Examples of common tuition and financial aid refund scenarios are available in the Finance Office.
Capital University is a private four-year undergraduate institution and graduate school located in the Columbus, Ohio, neighborhood of Bexley. Copyright © 2015 Capital University