Financial Aid Refunds and Return of Title IV Funds
Scope
All financial and administrative policies involving community members across campus, including volunteers are within the scope of this policy. If there is a variance between departmental expectations and the common approach described through college policy, the college will look to the campus community, including volunteers to support the spirit and the objectives of college policy. Unless specifically mentioned in a college policy, the college’s Board of Trustees are governed by their Bylaws.
Policy
When a student withdraws or takes a leave of absence from the college, college policy stipulates that tuition may be refunded on the following schedule for each semester:
- after one block, two-thirds of the tuition is refunded;
- after two blocks, one-third is refunded;
- after three blocks, no refund is made.
Colorado College grants and scholarships will be refunded according to this schedule also. Board is prorated through the week of withdrawal. The semester room charge is not refundable except under special circumstances.
According to federal regulations (CFR 668.22), students who receive federal financial aid and who withdraw or take a leave during a semester may have a part of their aid refunded to the programs that assisted them. The federal Return of Title IV Funds policy stipulates the amount of aid a student has earned before withdrawal and the order in which federal refunds are allocated back to the program that provided it. Students may obtain specific information and examples of refund and Return of Title IV Funds policies from the financial aid office.
Procedures
None