Federal student assistance program regulations require institutions of higher education which participate in the Title IV aid programs to have a fair and equitable refund policy for all students who withdraw, drop out or are expelled from school. This regulation and federal refund policy can be found in the Department of Education Federal Student Assistance Program General provisions. Detailed information is available upon request in the student financial aid office.
The Cass Career Center Institutional Refund Policy is outlined below:
1. The school will retain 25% of the tuition for students withdrawing in the first week of the payment period. Withdrawal may be voluntary or involuntary.
2. The school will retain 50% of the tuition for students withdrawing in weeks 2, 3, and 4 of the payment period. Withdrawal may be voluntary or involuntary.
3. The school will retain 100% of the tuition for students withdrawing during or after week 5 of the payment period. Withdrawal may by voluntary or involuntary.
4. Student activity fees, club dues, and supplies are nonrefundable.
The school may retain $100 or 5% of institutional charges for an administrative fee for students who drop. The refund policy is applicable to all post-secondary students who execute a complete withdrawal from coursework during an academic year. Withdrawal includes dismissal from the program for any reason including unsatisfactory academic or attendance progress. The student’s withdrawal date is the last day of attendance. Any books and/or supplies received by the student prior to withdrawal will be charged to the student’s account and will not be refunded.
RETURN OF TITLE IV FUNDS POLICY
All students receiving federal funds will receive a refund based on the Department of Education’s
Return of Title IV Refunds Calculation. When a student withdraws from Cass Career Center, a Return to Title IV calculation, using the federal formula and worksheets, is used to determine, as of the date the student withdrew, the amount of time the student was scheduled to attend in relation to the amount of time in the payment period. Up through the 60% point in the payment period, a prorata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point in the payment period, the student has earned 100% of the Title IV funds received, or was scheduled to receive, in the payment period. If funds were not disbursed before the student withdrew and student earned aid that could have been disbursed, after Return to Title IV a post withdrawal disbursement could be made. Note: For a second disbursement of loan funds, a post withdrawal disbursement is prohibited.
A Return to Title IV calculation must be performed after the student withdraws so that any unearned funds are returned to the programs within 45 days from the date of determination that the student withdrew. Title IV refunds to a student’s award will be distributed using the following priority award order:
a. Unsubsidized Direct Loan
b. Subsidized Direct Loan
c. Federal PLUS Loan
d. Federal Pell Grant
e. Other Federal, state, private, or institutional aid
Cass Career Center works with Credit World Services, Inc. to collect unpaid balances.