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:

1. Determine a student's withdrawal date.
2. Determine the amount of aid disbursed for the payment period.
3. Determine the amount of Title IV aid disbursed plus the Title IV aid that
   could have been disbursed for the payment period.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
10. 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.