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    Financial Aid Refunds and Return of Title IV Funds

    Responsible office
    Finance & Administration
    Responsible party
    Controller
    Last revision
    August 2013
    Approved by
    The Cabinet
    Approval date
    August 2013
    Effective date
    August 2013
    Last review
    May 2016
    Additional references
    None

    Scope

    All financial and administrative policies involving community members across campus are within the scope of this policy. If there is variance between departmental expectations and the common approach described through college policy, the college will look to the campus community to support the spirit and the objectives of college policy.

    Policy

    When a student withdraws or takes a leave of absence from the college, college policy stipulates that tuition may be refunded on the following schedule for each semester:

    • after one block, two-thirds of the tuition is refunded;
    • after two blocks, one-third is refunded;
    • after three blocks, no refund is made.

    Colorado College grants and scholarships will be refunded according to this schedule also. Board is prorated through the week of withdrawal. The semester room charge is not refundable except under special circumstances.

    According to federal regulations (CFR 668.22), students who receive federal financial aid and who withdraw or take a leave during a semester may have a part of their aid refunded to the programs that assisted them. The federal Return of Title IV Funds policy stipulates the amount of aid a student has earned before withdrawal and the order in which federal refunds are allocated back to the program that provided it. Students may obtain specific information and examples of refund and Return of Title IV Funds policies from the financial aid office.

    Procedures

    None