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Title: Approved Refund Schedule
Subject: Bursar
Policy No: FIN: 2016:07
Applies: University-Wide
Issuing Authority: President
Responsible Officer: Senior Vice President for Finance and CFO
Adopted: 04/25/2016
Last Revision: 10/31/16
Last Reviewed: 10/31/16
I. PURPOSE
The purpose of this policy is to set forth the proper accounting for and control of the University Refund Schedule.
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- The University Bursar and Assistant Bursar are responsible for setting up, testing, and managing the University's Fee Assessment process, which drives the assessment of all charges on the student account.
- The proration of fees for meal plans are handled manually by the Meal Plan Program Assistant in the Bursar's Office.
- The proration of fees for room assignments are handled manually by the Director of Housing Administrative Services and Assignments under the Assistant VP for Residential Learning and University Housing.
- REFUND SCHEDULERefund Schedule
- Part-Time students
- Refunds will be processed only for drops occurring on or before the last day of Drop/Add Registration.
- No refunds will be processed for withdrawals beyond that date.
- Full-Time students
- Refunds will be processed only for students who officially withdrawals from all courses on or before the last day of Drop/Add Registration.
- No refunds will be processed for withdrawals beyond that date.
- Financial Aid students
- Refunds of Federal Financial Aid are processed in accordance with federal guidelines:
- Withdrawal before end of Drop/Add Registration = 100% Refund
- Withdrawal after Drop/Add Registration = No Refund
- Refunds of Federal Financial Aid are processed in accordance with federal guidelines:
- Room and Board
- Refunds for residence halls and for meal plans will be calculated immediately following the date of the student's official withdrawal.
- Refunds for rooms shall be pro-rated on a weekly basis until the end of the fifth week of the semester, at which point there will be no refund for the remaining weeks of the term.
- Refunds for Board shall be pro-rated on a weekly basis until the end of the third week of the semester, at which point there will be no refund for the remaining weeks of the term.
- Refunds for residence halls and for meal plans will be calculated immediately following the date of the student's official withdrawal.
- Part-Time students
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