Financial Aid Withdrawal Information
Federal regulations require that North Central College have a written policy for the refund and repayment of Federal Aid (Supplemental Educational Opportunity Grant, TEACH Grant, Pell Grant, Iraq & Afghanistan Grant, Federal DIRECT Loans, Federal Graduate PLUS, and Federal PLUS) received by students who withdraw during a semester for which payment has been received. This policy is effective only for those students who completely terminate their registration (i.e. cancels registration, stops attending all coursework, withdraws or is dismissed) or class attendance before completing 60% of the enrollment period.
For purposes of this policy, a refund refers to the difference between monies originally paid for institutional charges by financial aid and/or cash payments and the amount retained by the institution after withdrawal. A repayment can occur when cash has been disbursed to a student from financial aid funds in excess of institutional charges.
If the student receives federal financial assistance, and withdraws or ceases attendance in academic activities prior to completing 60% of the academic semester, a portion of these funds must be returned to the programs. The calculation is based on the period of enrollment completed. As a credit hour institution, that percentage is computed by dividing the total number of calendar days in the semester into the number of calendar days completed, as of the date of the student withdrawal. The percentage of federal assistance to which the student is entitled (has “earned”) is equal to this percentage of the semester completed, up to 60%. If the withdrawal occurs after 60% of the semester is completed, the student is considered to have “earned” all of the federal aid disbursed. If a student has withdrawn, the institution will determine any possible returns within 30 days from the date it learns of the student withdrawal. A letter will be either mailed to the student or sent through electronic means and will indicate the amount of funds being returned and an overview of the process.
If a student decides to withdraw, s/he should formally notify the Office of Student Affairs who will provide the details of the withdrawal to all other administrative offices on campus. A student’s withdrawal date/last date of attendance is determined by the date they officially submit a withdrawal form with the Office of Student Services. If a student fails to provide a withdrawal form, this is considered an unofficial withdrawal and the student will receive “F” grades in all courses not completed. If the institution is unable to determine a last date of attendance due to the student’s unofficial withdrawal, the midpoint of the semester will be used for determining the amount of financial aid earned. However, the institution will make a reasonable attempt (through communication with professors) to determine the last date the student participated in an academically related activity and use it as the withdrawal date.
The amount of federal aid to be returned is based on the percentage of “unearned” aid. That percentage is computed by subtracting earned aid from 100%. The College is required to return the lesser of 1) the unearned aid percentage applied to institutional charges and 2) the unearned percentage applied to total federal aid received. The student is required to return the difference between the amount of unearned aid and the amount returned by the College. If the student (or parents in the case of a PLUS loan) is required to return a portion or all of their loan proceeds, the calculated amount is to be repaid according to the loan terms.
There are certain exceptions to this rule (i.e. student is withdrawing because it has been determined that student has already met graduation requirements, etc.) Our office will evaluate each withdrawal notification for determination on whether or not an exception to the calculation exists.
In certain situations, a student may be eligible for a post-withdrawal disbursement for federal aid that could have been disbursed, but was not done before the withdrawal occurred. If the student is eligible for a post-withdrawal disbursement, the institution will contact the student in writing giving the student 14 days to approve and post-withdrawal disbursements.
Tuition and Fees
A student who officially withdraws from the College or a course(s) may receive a full or partial refund (credit) according to the following schedule computed from the first official day of the academic fall or spring semester (which, in general, is the first weekday of the semester in which classes are held). NOTE: The summer semester refund schedule differs from the fall and spring semester refund schedule, and the module/session course refund schedule may differ as well. See the North Central College catalog for refund schedules for a specific semester.
Full Fall/Spring Semester Courses:
1st-5th calendar days of the semester – 100%
6th-12th calendar days of the semester – 90%
13th-26th calendar days of the semester – 50%
27th calendar day and after – 0%
The date of withdrawal is established by the student’s completion of all official steps for withdrawal and will be based on the date that the Registrar’s Office records the withdrawal. If the student withdraws from the College or any course(s) at any time without having completed the official steps, no refund (credit) will be made. The refund schedule is available in the North Central College catalog.
Requests for exception to this policy must be made, in writing, using the General Petition form available in the Registrar’s Office. Exceptions may be granted for reasons such as an institutional error, documented medical condition, death, or other circumstances clearly beyond the student’s control, except for employment reasons. In all cases, a complete review of any possible means of completing the course(s) must be explored prior to submitting the petition. Granted petitions may be assessed a $50.00 processing fee.
Room and Board
All contracts are for the full academic year. If a student intends to withdraw from housing during the academic year, the student must follow the procedures outlined in the room and board contract signed at the beginning of the academic year or semester. In all cases, the student must petition the Director of Residence Life for release. Granting of the release is not automatic and refunds (credits) will be determined in accordance with the contract. All students should read and understand the Room and Board Contract before signing.