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2016-2017 Catalog

Refund Policy

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 Fees

Withdrawal on or before the first day of classes: 100 percent.

Withdrawal 2-50 days into the semester: pro-rated - based on the number of days remaining in the semester divided by the total number of days in the semester.

Withdrawal 51+ days: no refund

For purposes of this calculation, weekend days are included, but the five-day Thanksgiving break and spring break are excluded.

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.

While a student is residing in College property, the College assumes no responsibility for loss of or damage to personal property. Students should verify that coverage is provided under their families' homeowners policies or contact an insurance agent concerning protection against such losses.

Board Fees

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Flex dollars will be refunded to a withdrawn student to the extent that those dollars have not been used. No refunds will be granted except as described above.

Financial Aid

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 percent of a payment period or term.

If a student leaves the institution prior to completing 60 percent 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 percent 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 what 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. The student must be offered any post-withdrawal disbursement of loan funds within 30 days of the date the institution determined the student withdrew.

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 date of the student's withdrawal.

Refunds are allocated in the following order:

  • Unsubsidized Federal Direct Loans
  • Subsidized Federal Direct Loans
  • Federal Perkins Loans
  • Federal Parent (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 assistance under this Title for which a Return of funds is required (e.g., LEAP)

Tuition Refund Insurance

To complement this refund policy and to help protect your educational investment, the College offers an optional Tuition Refund Insurance Plan. When combined with the College's published refund policy, reimbursement totaling 100 percent of the comprehensive fee (tuition) and those College room charges billed by the College will be made if your son/daughter is forced to withdraw from school due to a personal illness or accident. In case of withdrawal due to a mental/nervous disorder, 60 percent of the above charges is covered. A plan description and enrollment application will be mailed approximately 30 days prior to the first day of fall semester classes.