Refund Policies

Full-time Traditional Day

When a full-time traditional student enrolled in day classes for the full 15-week semester withdraws from the university, she or he must complete an official withdrawal clearance with the Retention Specialist located in the Student Success Center.

Full-time Non-traditional Day

When a full-time non-traditional student enrolled in day classes for the full 15-week semester withdraws from the university, she or he must file an official notice of withdrawal with the Center for Adult and Continuing Education.

Part-time Day and Once-per-week

If a part-time student enrolled in traditional day (15-week semester) or once-per-week evening classes (15-week semester) withdraws from the university, he or she must file an official notice of withdrawal with the Center for Adult and Continuing Education.

The percentage of charges for full-time traditional day students, full-time non-traditional day students, part-time day, and once-per week evening students is determined by the date that the vice president of student affairs or the Dean of the Center for Adult and Continuing Education receives an official notice of withdrawal.

Tuition, fees, room and board charges will be cancelled at the following percentage rates:

Time of Withdrawal

Amount

First Week

100%

Second Week

90%

Third Week

80%

Fourth Week

70%

Fifth Week

60%

Sixth Week

60%

Seventh Week

50%

Eighth Week

40%

Ninth Week

40%

No refunds of charges are allowed after the ninth week. There are no refunds on room deposits.

The student financial services 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% of a payment period or term. The Federal Title IV financial aid programs must be recalculated in these situations.

If a student leaves the institution prior to completing 60% of a payment period or term, the student financial services 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% 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 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. When Title IV funds are returned, the student borrower may owe a debit balance to the university.

If a student earned more aid than was disbursed to him/her, the university would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student's withdrawal.

The university must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student's withdrawal.

Refunds are allocated in the following order:

  • Unsubsidized Federal Stafford Loans
  • Subsidized Federal Stafford Loans
  • Unsubsidized Direct Stafford Loans (other than PLUS loans)
  • Subsidized Direct Stafford Loans
  • Federal Perkins Loans
  • Federal Parent (PLUS) Loans
  • Direct 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)

There will be no adjustment to federal or institutional aid after the completion of at least 60 percent of the semester. The calculation of Title IV refunds will be computed by the student financial services office.

Students who receive a refund of financial aid prior to withdrawing may owe a repayment of federal financial aid received. Students who fail to return federal funds as required will be ineligible for aid until repayment is made.

Change of Academic Status

If a student drops from full to part-time during the first two weeks of classes, adjustment to tuition charges will be made as follows:

 

1.

The full-time tuition charges originally assessed will be reduced according to the official drop/add date defined by the Vice President of Academic Affairs Office, and by applying a percentage adjustment based on the following:

 

 

First Week

100% tuition

 

 

Second Week

75% tuition

No adjustment will be made to tuition charges or financial aid after the second week.

 

2.

Part-time tuition charges will then be computed by multiplying the actual number of credits being taken after the drop by the appropriate credit charge.

Part-time Accelerated Evening

When a part-time accelerated student drops a course with penalty or withdraws from the university, official notice must be filed with the Center for Adult and Continuing Education.

Tuition and other charges will be cancelled at the following percentage rates:

Prior to the second week

100%

Prior to the third week

70%

Prior to the fourth week

60%

During the fourth week

40%

No refund will be given after the fourth week.

Weekend College

When a weekend college student drops a course with penalty or withdraws from the university, official notice must be filed with the Center for Adult and Continuing Education. Tuition and other charges will be cancelled at the following percentage rates:

Prior to the second weekend

100%

Prior to the third weekend

70%

Prior to the fourth weekend

50%

On the fourth weekend

40%

No refund will be given after the fourth weekend.

Expressway Program

When an Expressway student drops a course with penalty or withdraws from the university, official notice must be filed with the Center for Adult and Continuing Education. Tuition and other charges will be cancelled at the following percentage rates:

Five week classes

 

Prior to the second class

100%

Prior to the third class

60%

No refund will be given after the third class.

Seven and one-half week classes

Prior to the second week

100%

Prior to the third week

70%

Prior to the fourth week

60%

During the fourth week

40%

No refund after the fourth week.

Summer Session I through IV

Students enrolled in summer session I through IV and who drop courses or withdraw from the university must file official notice with the Center for Adult and Continuing Education. Tuition and other charges will be cancelled at the following percentage rates:

Prior to third class

100%

Prior to fifth class

60%

Prior to seventh class

40%

No refund after the seventh class.

Financial aid will be adjusted according to the same policy used for full-time students.

Administrative Regulation and Payment of Tuition and Fees

Misericordia University students are expected to pay their bills in a timely manner. The student financial services office personnel assist students in meeting their financial obligations and will discuss reasonable payment schedules in extraordinary cases. In order to assure the collection of money due the university, students with unpaid balances for tuition, fees, bookstore charges, library fines, parking fines, or any other Misericordia University approved fee or fine will be denied the following privileges or services:

  1. Class registration.
  2. Participation in graduation ceremonies and the awarding of diplomas. Also, seniors may be denied final exams.
  3. Transcript issue.
  4. Residence hall reservation privileges.