Refund Policy

The Student Financial Services Office is required by federal law 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 financial aid office recalculates eligibility for Title IV funds. Recalculation for federal aid 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, to the Department of Education, and the student would be required to return a portion of the funds. Keep in mind that when federal Title IV funds are returned, the student may owe money to Geneva. (See tuition refund policy for more details or make an appointment with the Student Financial Services office to review your situation).

If a student drops a course but does not completely withdrawal from the term, the Federal Pell Grant recalculation date is the first day of the term. In other words, Federal Pell Grant eligibility will be based on the number of credits enrolled at the start of the term.

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

Refunds are allocated in the following order:

• Unsubsidized Direct Loans (other than Direct Parent PLUS loans)
• Subsidized Direct Loans
• Federal Direct Parent (PLUS) Loans
• Federal Pell Grants for which a return of funds is required
• Federal SEOG Grants for which a return of funds is required
• Other assistance under this Title for which a return of funds is required 

For students with Military Tuition Assistance (TA) benefits, Geneva will adjust benefits according to the following schedule:

Modular programs (ex. 8-week courses- Online Adult Degree Completion; Cybersecurity, Leadership and MBA Online Graduate Programs and 9-week courses- MBA Classroom Graduate Program):

• 100% of Tuition Assistance (TA) received will be returned if the student withdraws within the first week of class, but before submission of the first assignment. The student’s request will be processed as a drop for the purpose of returning TA funds only, not for Financial Aid attendance or recalculating of federal aid.
• 75% of TA received will be returned if the student withdraws after submitting the first assignment and through the end of the second week of classes.
• 50% of TA received will be returned if the student withdraws after the second week of classes, but before the end of the fourth week of classes.
• 25% of TA received will be returned if the student withdraws after the fourth week of classes, but before the end of the sixth week of classes (60% of course is completed).
• No TA received will be returned if the student withdraws after the sixth week of classes.

Semester programs (ex. 16-week traditional programs- Traditional, Nursing, CUBM, Grad Counseling, Grad Higher Ed):

Before or during weeks 1-2	100% return
During weeks 3-4	75% return
During weeks 5-8	50% return
During weeks 9	40% return (60% of course is completed)
During weeks	10-16 0% return

Students who withdraw will receive an email notifying them of how their financial aid has been affected.

For more information about how adjustments are made when a Disciplinary Suspension occurs, please see the Student Handbook (http://www.geneva.edu/student-life/vp/student-handbook#studentTravel).

Geneva College Tuition Refund Policies

Traditional Undergraduates
ADP Refund Policy
Graduate Programs – please check with your program