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Refunds
Students not
receiving financial assistance and students awarded HOPE funds only,
will receive refunds in accordance with the Institutional Refund
Policy. Title IV recipients who totally withdraw from Lanier Tech
will have their refunds calculated in accordance with the Return
of Title IV Funds Refund policy. Students receiving Title IV funds
and HOPE funds will have their refunds calculated in accordance
with the Title IV refund policy and the Institutional Refund Policy.
The refund policies are outlined on the following pages.
Return
Of Title IV Funds Policy
When a Title IV recipient totally withdraws, Lanier Tech must use
the following steps to return Title IV aid:
- Determine
a student's withdrawal date.
- Determine
the amount of aid disbursed for the payment period.
- Determine
the amount of Title IV aid disbursed plus the Title IV aid that
could have been disbursed for the payment period.
- Determine
the percentage of Title IV aid the student earned by dividing
the number of calendar days attended during the quarter by the
total number of calendar days in the quarter.
- Calculate
amount of Title IV aid earned by the student by multiplying the
above percentage by the total of Title IV aid disbursed plus the
Title IV aid that could have been disbursed for the payment period.
- Determine
if student is due a Postwithdrawal Disbursement or if Title IV
aid must be returned. If the amount of Title IV aid earned is
greater than the total of Title IV aid disbursed then subtract
the Title IV aid disbursed for the payment period from the amount
of Title IV aid earned. This is the amount of the post-withdrawal
disbursement due. If the amount of Total Title IV aid disbursed
is greater than the amount of Title IV Aid earned by the student,
then subtract the amount of Title IV aid earned from Title IV
aid disbursed for the payment period. This is the amount of Title
IV aid that must be returned.
- Calculate
amount of unearned Title IV aid due from the school. Multiply
institutional charges for the payment period times the percentage
of Title IV aid unearned. Compare this amount to the amount of
Title IV aid to be returned and enter the lesser amount.
- Determine
return of funds by school. The school must return the unearned
aid for which the school is responsible by repaying funds to the
follow sources, in order, up to the total net amount disbursed
from each source. The aid programs are as follows: Unsubsidized
FFEL/Direct Stafford Loan, Subsidized Stafford Loan, Perkins Loan,
FFEL/Direct Plus, Pell Grant, FSEOG Grant and Other Title IV programs.
- Calculate
initial amount of unearned Title IV aid due from student. Subtract
the amount of Title IV aid due from the school from the amount
of Title IV aid to be returned.
- Determine
return of funds by student.
Refund
Policy for Title IV & HOPE Recipients
If the student received federal Title IV funds in addition
to HOPE funds, Lanier Tech must follow the Title IV Return of Funds
policy to determine the amount of federal Title IV refund. To determine
the refund to HOPE, Lanier Tech must then follow the institutional
refund policy. If all or part of the student‘s Title IV aid
was disbursed directly to the student, the school must bill the
student for the refund. This notice will show all financial aid
received by the student, the amount earned by the student, and the
amount to be returned by the student to the school.
Refund
Policy for HOPE Only Recipients
If a refund is due and the student received HOPE funds but did not
receive federal Title IV funds, then such amounts must be refunded
to HOPE, rounded to the nearest dollar, by applying the institution's
refund policy to the student's original HOPE award for tuition and
HOPE approved mandatory fees.
Institutional
Refund Policy
Students not receiving financial assistance and students awarded
HOPE Funds only will receive refunds in accordance with the Institutional
Refund Policy. One hundred percent (100%) of tuition and all fees
excluding the application fee will be refunded if the student formally
withdraws before the first day of the quarter. For the purpose of
refund calculations, the first day of the quarter is considered
to be the official first day of class shown on the school calendar.
(It is not the first day of scheduled classes for an individual
student unless the student's classes are set-up as a special part
of term.) The school calendar gives the last dates for refunds each
quarter for all classes except those that are set-up as a special
part of term.
Seventy-five
percent (75%) of the tuition will be refunded if the student formally
withdraws within the first five (5) class days for any quarter.
(It is not the first day of scheduled classes for an individual
student.) Unexpected school closure (for example, due to inclement
weather) that occurs within the refund period will be taken into
consideration in the calculation of refunds. Under these circumstances,
the President of the school may extend the refund period. There
will be no refund of fees (activity, registration, late, and insurance)
if the student withdraws after the one hundred percent (100%) refund
period has passed. After the first five (5) class days for any quarter,
there will be no refund. Any student who withdraws or is dropped
from school after the one hundred percent (100%) refund period has
passed will forfeit all rights to any benefits from the school activity
fee.
Some courses
may be cancelled due to low enrollment. In the event of a cancellation,
a student may choose to change to an alternate course or may receive
a refund. Refunds due to a course cancellation will be at one hundred
percent (100%). Refunds are processed when a student withdraws or
is withdrawn from the college without requiring a request from the
student. These refunds are processed through the Registrar‘s
Office and the Administrative Services Office. The refund check
will be mailed to the student's address.
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