If a student leaves Lafayette during a semester, the College will provide a partial refund of tuition and fees according to the following terms:
|On or before first day of classes||100%|
|2-50 days into semester||Prorated: number of days remaining in semester divided by total number of days|
|51 + days||No refund|
For purposes of this calculation, weekend days are included, but the five-day Thanksgiving break and spring break are excluded.
A student required to withdraw for disciplinary reasons is not eligible for a refund of the comprehensive fee, student activity fee, or room fee.
The board fee refund will be prorated based on the number of weeks remaining in the semester.
Unused Flex/Pard dollars will be refunded to a withdrawn student.
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for Title IV funds for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term.
If a student leaves the College prior to completing 60% of a payment period or term, the financial aid office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or 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 = 100 percent 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 a student earned less aid than was disbursed, the College would be required to return a portion of the funds and the student would be required to return a portion. When Title IV funds are returned, the student borrower may owe a debit balance to the institution.
If a student earned more aid than was disbursed to him/her, the College would owe the student a post-withdrawal disbursement that must be paid within 30 days of the student’s withdrawal.
The College 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 student’s withdrawal.
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