Withdrawal and Refund Policies
Because the College must make financial commitments, the tuition deposits are non-refundable. To officially withdraw means the student needs to go through the proper channels as set forth by the College. To stop attending classes does not constitute an official withdrawal.
To officially withdraw, students must complete the online official withdrawal form through WebAdvisor to notify the Office of the Registrar of their intention to officially withdrawal.
Students who withdraw from the College completely may receive a partial refund as follows:
Fall 2017 Term 1: August 28 - October 18, 2017
Classes begin: August 28, 2017; payment due by the start of classes, unless student has set up a payment plan.
90% Refund: Through August 30, 2017.
50% Refund: Through September 5, 2017.
25% Refund: Through September 8, 2017.
No Refund after September 8, 2017.
Fall 2017 Term 2: October 23 - December 15, 2017
Classes begin: October 23,2017; payment due by the start of classes, unless student has set up a payment plan.
90% Refund: Through October 25, 2017.
50% Refund: Through October 30, 2017.
25% Refund: Through November 2, 2017.
No Refund after November 2, 2017.
Spring 2018 Term 1: January 29 - March 21, 2018
Classes Begin: January 29, 2018; payment due by the start of classes, unless student has set up a payment plan.
90% Refund: Through January 31,2018.
50% Refund: Through February 5, 2018.
25% Refund: Through February 8, 2018.
No Refund after February 8, 2018.
Spring 2018 Term 2: March 26 - May 15, 2018
Classes Begin: March 26, 2018; payment due by the start of classes, unless student has set up a payment plan.
90% Refund: Through March 28, 2018.
50% Refund: Through April 2, 2018.
25% Refund: Through April 5, 2018.
No Refund after April 5, 2018.
Calculations will be based on the date the withdrawal form is completed and submitted to the Office of the Registrar. The College will charge an administrative cost allowance for any student withdrawing. The cost will be five percent (5%) of tuition originally charged, but will not exceed $100.00.
Administrative Withdrawal for Non-Attendance (No Show)
Students who register for a semester of coursework but do not attend class or participate in online course section of any of their courses during the first two full weeks of the semester are withdrawn from the College administratively, and notified of that action by a letter sent to both home and campus addresses. Those students are responsible for 10% of tuition and fees plus the administrative cost allowance. However, the student will be ineligible for any federal, state, or institutional financial aid. This includes all grants, scholarships, and loans.
This policy does not apply to students who attend or participate in some, but not all, of their courses. They remain enrolled in the College and receive grades in courses that they did not attend but did not formally drop. Students are responsible for all tuition and fees charged for those courses.
Students Who Withdraw From or Stop Attending Classes
The Financial Aid Office is required by federal statute to recalculate federal Title IV 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.
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. When Title IV funds are returned, the student borrower may owe a balance to the institution, which must be paid within 30 days of withdrawing from the College.
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 120 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 Direct Stafford Loans (other than PLUS loans)
- Subsidized Direct Stafford Loans
- Federal Perkins Loans
- Direct PLUS Loans
- Federal Pell Grants for which a return of funds is required
- Federal Supplemental Opportunity Grants for which a return of funds is required
- Other Title IV assistance for which a return of funds is required (e.g., TEACH).
Delinquent Account Policies
If a student cannot pay their account when due, they may request a payment arrangement through the Business Office. Payment amounts and terms are variable and at the College’s discretion. The College does require formal documentation and a promissory note for all arrangements. Students with delinquent accounts will not be allowed to register for additional terms, receive a transcript of credits, receive their diploma, or be allowed to participate in the commencement ceremony until their balance is paid in full.
If a student does not pay their account when due, does not have a payment arrangement, or defaults on their payment arrangement, their account may be placed with a collection agency. If an account is placed with any collection agency, the student agrees to reimburse Virginia Wesleyan College for the fees of the collection agency, which will be based on a percentage at a maximum of 33.33% of the debt, and all costs and expenses, including reasonable attorney’s fees, the College incurs in collection efforts.
There is a 10 day waiting period for release of a transcript of credits or a diploma after an account is paid in full through a collection agency.