Refunds and Financial Aid Returns

Tuition and Fees Refunds

When students withdraw from classes, their charges will be reduced and their accounts will be credited according to the following refund policy. For the purpose of this policy, the period of enrollment is a term. The beginning of the term is the first day of classes and the end of the term is the last day of classes. The beginning and end dates of each term are listed in the curriculum catalog. The unofficial withdrawal date is the last day of attendance.

If the withdraw date falls after the drop/add period all fees are non-refundable and only tuition will be refunded per the following policy.

Room and Board Refunds

When students withdraw from classes they will be given a required move out date from Residence Life. Once the finance department receives official notification that the student has moved out and any additional charges that need to be added to the students final term bill, refunds will be calculated based on the following refund policy.

Institutional Financial Aid Reversals

All institutional financial aid will be reversed based on the same refund policy as applicable charges. For example, if the institutional aid is for tuition it will use the same method as tuition refunds.

Return of Federal Student Aid

The College determines the following each time a student withdraws:

• Last Date of Attendance: As indicated by instructors’ records, this is the last date a student was present in class.
• Withdrawal Date: The date the Registrar’s office processes the student withdrawal.

There are two withdrawal classifications:

• Official Withdrawal: Notify the Registrar or Dean of Students in writing that attendance in all classes will cease as of a specific date, including any leave of absence. The date the student requests the official withdrawal will be considered the withdrawal date, unless another withdrawal date is specified in the notice.
• Unofficial Withdrawal: Student has stopped attending classes for more than 14 calendar days. If a student does not attend all classes for which they have registered for any two-week period before the withdrawal deadline, the student will be withdrawn by the Registrar's Office. The date of withdrawal will be the date the Registrar's Office withdraws the student from school. If a student stops attending all classes for which they have registered after the withdrawal deadline, the student will be withdrawn by the Registrar's Office at the end of the term. The date of withdrawal will be the last day of the term.

The federal formula requires a return of Title IV financial aid if students withdraw on or before completing 60 percent of the term. Title IV funds include: Federal Pell Grant, Supplemental Educational Opportunity Grant (SEOG), Federal Direct Loan (subsidized or unsubsidized), Direct PLUS Loan for Parents, National SMART (Science and Mathematics Access to Retain Talent) Grant.

Title IV funds will be pro-rated based on the number of calendar days in the term and the number of calendar days attended. All returns will be completed within 45 days of the date of determination, and Federal Student Aid will be returned in the following order:

• Ford Federal Direct Unsubsidized Loan
• Ford Federal Direct Subsidized Loan
• Ford Federal Direct PLUS Loan for Parents
• Federal Pell Grant
• National Science & Mathematics Access to Retain Talent (SMART) Grant
• Federal Supplemental Educational Opportunity Grant (FSEOG) including FSEOG Match
• Other federal loan or grant assistance

If a student completes at least 60% of the term, no return calculation is required.

There are a total of 75 days per term. Returns are calculated based on the last day of attendance (LDA) up to day 44 of the term. For example: if the last day of attendance is day 18 of the term, then the return requirement is 24% of Title IV funds awarded. If the last day of attendance is day 44 of the term, then the return requirement is 59%. If the last day of attendance is day 45 or greater of the term, then the return requirement is 0%.

Percent of Term Completed = (LDA / Days in the Term)*100%

Return = 100% – Percent of Term Completed

School Portion of the Return

As part of the Return to Title IV calculation, Antioch College determines the amount of federal student financial aid the student has earned and the tuition and fee charges the student accumulated during the term. Based on these amounts, the School may need to return unearned aid (according to the order above).

Student Portion of the Return

After Antioch returns the school portion of the return, any amount of the total unearned aid that remains becomes the student portion of the return. In this case, the student will be notified of the overpayment. If it is a grant overpayment, the student will have 45 calendar days to repay the amount back to Antioch College. If the student received a loan overpayment, it must be repaid in the normal course of loan repayment.

Post-Withdrawal Disbursement

Within 30 days of the date of withdrawal, the student will receive notification of any remaining (unused) title IV funds that they are eligible to receive. The notification will identify the type and amount of these title IV funds and explain that the student, or parent in the case of a parent PLUS loan, may accept or decline some or all of those funds.

If an outstanding balance remains on the student’s account:

1. Antioch College may credit the student’s account up to the amount of outstanding charges with all or a portion of any grant funds that make up the post-withdrawal disbursement. If the student agrees, Antioch will credit the student’s account with these funds within forty-five (45) days of the date of withdrawal. The amount of grant funds not credited to the student’s account (because it is more than the remaining balance) will be disbursed directly to the student, also within 45 days of the date of withdrawal.
2. Antioch College may credit the student’s account up to the amount of outstanding charges with all or a portion of any loan funds that make up the post-withdrawal disbursement only after obtaining confirmation from the student, or parent in the case of a parent PLUS loan, that they still wish to have the loan funds disbursed. The amount of loan funds that the student (or parent) can receive as a direct disbursement will only be disbursed if the student (or parent) agrees to accept these funds. If the student, or parent in the case of a parent PLUS loan, submits a timely response that confirms that they wish to receive all or a portion of a direct disbursement of the post-withdrawal disbursement of loan funds, or confirms that a post-withdrawal disbursement of loan funds may be credited to the student’s account, the school must disburse the funds in the manner specified by the student (or parent) as soon as possible, but no later than 180 days after the date of the school’s determination that the student withdrew.