If a student leaves Lafayette during a term, the College will provide
a partial refund of tuition and fees according to the following terms:
Comprehensive Fee, Student Activity Fee, and Room Fee: Withdrawal
on or before the first day of classes, 100 percent. The refund for withdrawal
within class days 2-50 is prorated based on the number of days remaining
in the semester divided by the total number of days in the semester.
No refund is provided after class day 50. For purposes of this calculation,
weekend days are included, but the five-day Thanksgiving break and spring
break are excluded.
Board Fee: Board fee refund will be prorated based on the number
of unused weeks remaining in the semester.
Flex Dollars: Flex dollars will be refunded to a withdrawn
student to the extent that those dollars have not been used.
A student required to withdraw for disciplinary reasons is not eligible
for a refund of the comprehensive fee, student activity fee, or the
room fee.
The Financial Aid Office is required by federal statute to recalculate
federal financial aid eligibility for students who withdraw, drop out,
are dismissed, or take a leave of absence prior to completing 60% of
a payment period or term. The federal Title IV financial aid programs
must be recalculated in these situations.
If a student leaves the institution prior to completing 60% of a payment
period or term, the financial aid office recalculates eligibility for
Title IV funds. Recalculation is based on the percentage of earned aid
using the following Federal Return of Title IV funds formula:
Percentage of payment period or term completed = the number of days
completed up to the withdrawal date divided by the total days in the
payment period or term. (Any break of five days or more is not counted
as part of the days in the term.) This percentage is also the percentage
of earned aid.
Funds are returned to the appropriate federal program based on the
percentage of unearned aid using the following formula:
Aid to be returned = (100% of the aid that could be disbursed minus
the percentage of earned aid) multiplied by the total amount of aid
that could have been disbursed during the payment period or term.
If a student earned less aid than was disbursed, the institution would
be required to return a portion of the funds and the student would be
required to return a portion of the funds. Keep in mind that when Title
IV funds are returned, the student borrower may owe a debit balance
to the institution.
If a student earned more aid than was disbursed to him/her, the institution
would owe the student a post-withdrawal disbursement which must be paid
within 30 days of the student's withdrawal.
The institution must return the amount of Title IV funds for which
it is responsible no later than 45 days after the date of the determination
of the date of the student’s withdrawal.
Refunds are allocated in the following order:
- Unsubsidized Federal Stafford Loans
- Subsidized Federal Stafford Loans
- Federal Perkins Loans
- Federal Parent (PLUS) Loans
- Direct PLUS Loans
- Federal Pell Grants for which a Return of funds is required
- Academic Competitiveness Grant
- National SMART Grant
- Federal Supplemental Opportunity Grants for which a Return of funds
is required
- Other assistance under this Title for which a Return of funds is
required (e.g., LEAP)
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