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Refund Policy/Return of Financial Aid Policy

— Approved by Senior Staff on May 9, 2017

Preface

The Refund Policy/Return of Financial Aid Policy applies once the semester begins to all students withdrawing or taking a leave of absence for any reason, including disciplinary action. If a student withdraws or takes a leave of absence before the first day of classes for a semester, all charges and financial aid for that semester are canceled. If a student withdraws or takes a leave of absence on or after the first day of classes for a semester, charges will be reduced and aid will be recalculated in accordance with this policy. If after these recalculations a balance is owed to the student, a refund check will be issued approximately one month after the student leaves Earlham. Any balance due the College after application of this refund policy is still the responsibility of the student, per our Statement of Student Financial Responsibility.

Earlham College's refund policy assumes that:

  1. a student, parent or fund will not receive a refund/return of funds in an amount greater than the student, parent or fund has paid; and
  2. refunds/return of funds are first paid to aid programs, then to the student or parent.

Students may receive the Earlham-funded aid for which they qualify for a maximum of eight semesters. The semester during which a student withdraws is included in the eight semesters.

The Dean of Student Life or the Office of the Registrar determines the date of official withdrawal according to federal and any other appropriate regulations and college policy.

Reduction of Charges

Reduction of Room Charges

Room charges are not reduced for students who leave Earlham for any reason after the semester begins.

Reduction of Meal Charges

Meal plans are charged for the full semester. The charge for meals is reduced on a pro-rata basis for the entire semester and is calculated on a weekly basis. A week is defined as any Monday through Sunday with at least one scheduled class, exam or reading day. If a student withdraws at any time during the week, it is considered that the student has used a week of the board plan.

Reduction of Tuition and Fees

A student who officially withdraws from Earlham on or after the first day of classes for a semester will have tuition and fees for that semester reduced as follows:

Week of Semester Percent Reduction
1st week 90%
2nd week 80%
3rd week 70%
4th week 60%
5th week 50%
6th week 40%
7th week 30%
8th week 20%
9th week 10%
10th week or later No reduction

Return of Financial Aid

Financial aid is calculated assuming a student will be enrolled during the entire enrollment period. If a student leaves Earlham prior to the end of the semester, eligibility for both federal and institutional aid must be recalculated.

Federal Financial Aid

A student who receives federal financial aid (Pell, SEOG, Stafford, Perkins or PLUS funding) and who leaves Earlham before completing 60 percent of the semester will have federal financial aid eligibility recalculated on a pro-rata basis.

Federal Title IV Student Aid fund(s) will be returned to the appropriate program(s) according to federal regulation. Currently, federal regulations require "unearned" Federal Title IV funds (excluding Federal College Work-Study funds) to be returned on a pro-rata basis when a student withdraws. For example, if a student who has received Federal Title IV aid withdraws and 30 percent of the semester is completed, then 70 percent of his/her federal aid is "unearned" and must be returned. Aid is first returned to federal loan programs, then to federal grant programs. When calculating the amount of Federal Title IV aid which is "unearned," all calendar days between the first day of classes and the last day of exams are counted. Breaks of five days or longer during which no classes, exams or reading days are scheduled are excluded from this calculation. If a student withdraws after 60 percent of the semester is completed, Federal Title IV aid is not returned to federal financial aid programs.

Earlham Funded Financial Aid

After federal calculations have been done, and the amount of federal aid (if any) to be returned has been calculated, Earlham calculates the student’s eligibility for Earlham aid. "Unearned" Earlham-funded aid is returned to the appropriate Earlham College funds on the same pro-rata basis as for federal funds.

Other Funding

Financial aid funds from states or other external agencies are returned following the requirements of the agency awarding the aid.

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