Financial Aid Withdrawal Information

If for some reason you need to withdraw during an academic term, you need to follow the established withdrawal procedure and will be subject to the institution’s withdrawal policy.

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 Parent 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, 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. 

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 the federal aid disbursed.

The amount of federal aid which must 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 parent 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. 

Refund Policy

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%

Refund Schedule

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
Agreements are signed 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 Agreement. In all cases, the student will need to complete the "Buy Out Agreement/Contract Release" form with Residence Life. Granting of the release is not automatic and refunds (credits) will be determined in accordance with the agreement. All students should read and understand the Room and Board Agreement before signing.