VCOM Institutional Policy and Procedure Manual

VCOM Policy and Procedure

Policy #S007

Edward Via College of Osteopathic Medicine

Policy Order No.: S007 Effective Date: November 30, 2001 Revised: August 1, 2021

Signature on File ___________________________ Dixie Tooke-Rawlins, D.O. President and Provost __________________________________________________________________________________________ VCOM Policy and Procedures on Tuition and Fees Refunds __________________________________________________________________________________________ 1. PURPOSE ............................................................................................................................................... 1 2. CALCULATING THE TUITION AND FEES REFUND .................................................................................. 1 2.1 Refunding When Title IV Monies Were Received...........................................................................1 2.2 Refunding When No Title IV Monies Were Received.....................................................................2 2.3 Three-Day Cancellation....................................................................................................................2 2.4 Other Cancellations...........................................................................................................................2 3. DURATION OF POLICY .......................................................................................................................... 2 1. PURPOSE The VCOM Policy and Procedures on Tuition and Fees Refunds outlines the formula for calculating the refund amount and the process utilized to refund students who have ceased academic activity. 2. CALCULATING THE TUITION AND FEES REFUND All tuition and fees refunds, regardless of pay type, will be calculated based on the amount of academic time the student completed during the term. Once the Business Office is notified that a student has ceased academic activity, the Business Office staff will calculate the percentage of term the student has completed. The last day of academic activity is deemed the last day of attendance and is the date used to calculate the percentage of the term completed. If the completion percentage is 60 percent or more, the student is not eligible for a tuition and fees refund. If the completion percentage is less that 60 percent, and after conducting a review of the student’s file to determine the payment source (Title IV or non-Title IV), a tuition and fees refund will be issued based on the specific procedures below. 2.1 Refunding When Title IV Monies Were Received If the student received Title IV monies to pay for tuition and fees and his/her completion percentage is less than 60 percent, the Business Office will ask the Financial Aid Office to complete a Return of Title IV Funds Calculation. Once this calculation is completed and received by the Business Office, the student’s account will be charged for the return of Title IV funds that will be made on his/her behalf, if a return of Title IV funds is required. Subsequently, the student’s account will be

VCOM Policy and Procedure on Tuition and Fees Refunds

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