F12.21 Student Account Refunds

Effective Date: June 20, 2023
Last Reviewed: June 20, 2023

POLICY: 

For fiscal reasons, the College must anticipate that enrolled students will complete the semester to which they were admitted and the number of courses for which they have enrolled.

PROCEDURE:

1. Should it be necessary for a student to withdraw from the College prior to the end of a semester, the student is to notify the Office of Academic Services, immediately and in person, of the official withdrawal.
2. At this point, the date of withdrawal for refund purposes is determined. This date will be used by the Director for Student Accounts to determine the amount of refund for tuition. (Fees and deposits are non-refundable.)
3. In addition to the negative academic consequences of dropping a course, there may be negative financial consequences as well. These consequences include:
   1. The potential loss of financial aid for current and future semesters
   2. The obligation to pay for a course in which the student is no longer enrolled and for which (s)he will receive no credit.
4. A student who is considering changing his or her enrollment status, in any way and for whatever reason, should first check with a financial aid advisor to determine whether such a decision will be financially detrimental.
5. A student who leaves the College without officially notifying the Office of Academic Services either in person or in writing or a student who is dismissed from the College forfeits all rights to a refund (within Federal Title IV regulations).
6. Financial aid recipients who anticipate withdrawing are advised to consult with Student Financial Assistance regarding refund eligibility and the effect the withdrawal may have on Satisfactory Academic Progress requirements and/or future eligibility for financial aid.
7. When a student withdraws before 61 percent of the semester has been completed, the College is required, under federal statute, to refund federal and/or state financial aid funds (i.e., federal loans and grants or state loans or grants) on a pro-rated basis. The calculation is based on the amount of time the student was enrolled in the semester. For example, a student who completes 23 percent of the semester will keep 23 percent of his/her federal and/or state funds. The remaining 77 percent will be returned to the source.
   1. Funds are returned to the federal and/or state source as stipulated in federal regulations.
   2. Students receiving College funds will have their awards pro-rated according to the College’s tuition refund policy listed below. For example, if a student receives a 20 percent tuition refund, he/she will forfeit 20 percent of his/her Stonehill award.
   3. Any balance due to the College resulting from the above adjustment of aid is the responsibility of the student.
8. Student/parent loans and government grants are deposited in the student’s tuition account. If a credit balance results, the student will automatically receive a refund if federal financial aid exceeds billed costs. Otherwise, the credit balance will remain on the account and be applied toward subsequent semester charges unless the student or parent specifically requests a refund.
9. A refund, when due, will be made payable to the student and mailed to the student’s permanent address unless the College is instructed otherwise in writing. When the deposit of a parent loan results in a credit balance, the refund will be made payable to the parent and mailed to the parent’s home address.
10. The refund process takes 10-14 business days. This process does not start on a check until 10 business days after it is deposited by the College.
11. A refund will not be made for an amount less than $25 unless a student has graduated or withdrawn from the College or as required by Title IV regulations.

Tuition Refunds

1. The following schedule applies to students who withdraw from the College or who withdraw from courses and/or change their status from full-time to part-time.

For 15-week semester courses:

For 5, 6, 7, or 8 week courses:

2. Part-time students who withdraw before the first day of a class will receive a full refund for tuition for that class.
3. Full-time students who reduce their course loads to fewer than 12 credits per semester will have their charges pro-rated. Pro-rations will be based on the Tuition Refund Policy outlined above.

Room and Board Refunds

1. For fiscal reasons the College must anticipate that enrolled residential students will complete the semester to which they were admitted as residential students. Therefore, the College does not guarantee or promise the availability of a room and board refund. If the College, in its sole discretion, determines that a refund is available, the calculation process outlined herein will apply.
2. The date of a student’s withdrawal from residency shall be determined by the Director of Residence Life or his or her designee and will be used by the Director for Student Accounts to determine the pro-rated room and board overhead charges. A student who does not follow the procedures for receiving a withdrawal may forfeit his or her right to a refund.
3. Room and board overhead charges will be refunded according to the following schedule for all students who withdraw from residency.

4. The meal plan refund is a percentage, based on the schedule above, of the dollars remaining in the meal plan at the time of withdrawal.
5. Students who reduce their course load to fewer than four courses per semester may forfeit their eligibility for residency.

Fees

1. Room guarantee fee is non-refundable.
2. Campus service fee is non-refundable.
3. Course fees are non-refundable.
4. All other fees are non-refundable.

*Series change, previously G6.21