Refund Policy
Refund amounts are calculated based on the official withdrawal date, which is the last day a student attended class. Refund amount is based on the amount the student has paid toward the class tuition and fees. Books and supply costs are non-refundable. A refund amount may never exceed the amount the student has actually paid toward the tuition of the class. No refunds will be issued once 60% of the total clock hours of the program have been offered. Refunds will be processed within 45 days of the student’s official withdrawal date.
100 hours and above - A 90% refund is given during the first week of class, after the $100 administrative fee is retained. Refunds are calculated based on full tuition fees. After the first week of class, refunds are prorated and based on the hours the program was held until the official date of withdrawal.
99–21 hour classes - 90% refund is given during the first week of class, after the $25 administrative fee is retained. Refunds are calculated based on full tuition fees. After the first week of class, refunds are prorated and based on the hours the program was held until the official date of withdrawal.
Under 20 hours - A 50% refund is given after the second class, after the $10 administrative fee is retained. Refunds are calculated based on full tuition fees. After the second class, no refunds are given. If a balance remains, the student is required to pay.
Federal Return of Title IV Funds Policy
Title IV funds are awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws from a program, the student may no longer be eligible for the full amount of Title IV funds that the student was originally scheduled to receive. The last day of attendance is the official withdrawal date. Financial aid only covers the percent of class hours scheduled up to the date of withdrawal. A student withdrawing is responsible for the difference between any monies owed to the school as determined by the withdrawal policy and any financial aid that has been earned based on the official program withdraw date. Note: The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges.
Federal financial aid recipients who withdraw or are administratively withdrawn prior to completion are subject to the Return of Title IV Funds (R2T4) policy. The policy calculates how much Title IV aid a recipient has earned for the period that he/she was enrolled in class. At LCJVS, Title IV aid subject to R2T4 calculations include Federal Pell Grants and Federal Direct Loans. If a recipient of Title IV (Pell Grant or Direct Loan) funds withdraws after beginning to attend the program, the amount of Title IV grant or loan assistance earned by the student must be determined. The return calculation will be completed based upon a student’s official or unofficial withdrawal from their program. If the amount disbursed to the student is greater than the amount the student earned, the unearned funds must be returned.
Any grant amount the student has to return is considered a Federal Title IV grant overpayment and arrangements must be made with the school or the U. S. Department of Education to return the funds. The school will return Title IV funds within 45 days to the programs from which the student received aid during the payment period or period of enrollment, as applicable, in the following order up to the net amount disbursed from each source: • Unsubsidized Federal Stafford Loans • Subsidized Federal Stafford Loans • Federal Pell Grants
If the amount disbursed to the student is less than the amount the student earned, and for which the student is otherwise eligible, he or she is entitled to receive a post-withdrawal disbursement of the earned aid that was not yet disbursed. Grant funds will be applied to their tuition account to settle any tuition still owed the school as a result of the student’s withdrawal. If the funds are due from the federal loan program, the student will be notified within 30 days of the date the school determined that the student had withdrew. The student is required to provide the school with written authorization for a post-withdraw disbursement of loan funds, allowing the school to disburse the funds. The school will apply the funds to pay any balance owed to the school at that time.
The amount of federal financial aid that the student earns is determined on a percentage basis. A student who is enrolled at least 60% of the scheduled hours in a period of enrollment earns 100% of the Pell Grant and Direct Loan funds awarded for that period. A student who withdraws after the 60% point of the program is responsible for any remaining balance owed to the school. If a student who withdraws was enrolled for less than 60% of the scheduled hours in the period of enrollment, the school will prorate the amount of the student’s aid by the percentage of scheduled hours completed as of the official withdraw date. In this case, the school will prorate the amount the student owes based scheduled hours as of the date of withdrawal.