Common use of FINANCING REQUIREMENTS Clause in Contracts

FINANCING REQUIREMENTS. All students must have a financing package on file no later than the seventh calendar day of their first term. This may include but is not limited to application and confirmation of eligibility for Title IV funding, if desired; executed individual payment plan; completion of all documentation needed to secure non-Title IV funding (e.g., WIA, VA, state grant). Concorde reserves the right to withdraw at any time any student who fails to complete their individual financing requirements or make timely payments. Refund Policy Refunds are made for a student who withdraws or is withdrawn from the Institution prior to the completion of his/her program and are based on the tuition billed for the payment period or period of enrollment in which the Student withdraws, according to the Refund Calculation set forth below. Refunds will be based on the total charge incurred by the Student at the time of withdrawal, not the amount the Student has actually paid. The date from which refunds will be determined is the last date of recorded attendance. Refunds will be made within 45 calendar days of the notification of an offcial withdrawal or date of determination of withdrawal by the Institution. Students who withdraw, or are withdrawn prior to the end of the payment period or period of enrollment are subject to the Return of Title IV Funds Policy noted below which may increase their balance due to the Institution. If there is a balance due to the Institution after all Title IV funds have been returned, this balance will be due immediately, unless a cash payment agreement for this balance has been approved by the Institution. Concorde does not refund charges for booklist items issued to the Student unless the items are returned in new and unused condition within 14 calendar days following the date of receipt or Student withdrawal. Credit balances due to the Student of less than $5 (after all Title IV refunds have been made) will not be refunded unless requested by the Student. Refund Calculation The schedule of refunds for students who withdraw after starting school, or are dismissed by the Institution, will be computed as follows: • If a first-time student withdraws within the first twenty-one (21) calendar days of his or her program of study, no tuition charges will be incurred. ◦ A first-time student is defined as one who has not previously attended the Institution. • If a student withdraws after the first twenty-one (21) calendar days, but prior to the 60 percent point of the period of enrollment or payment period for which he or she has been charged, the Student shall be entitled to a pro rata refund of the tuition charged for the period of enrollment or payment period. • If a student withdraws after the 60 percent point of the period of enrollment or payment period for which he or she has been charged, the Student shall be obligated for the tuition charged for the entire period of enrollment or payment period and not entitled to any refund. Student Notifications Regarding Withdrawal and Refunds Effective: 07/20/2020 A $100.00 administrative fee will be assessed to any withdrawn student eight days after their last date of attendance. In case of prolonged illness or accident, death in the family, or other circumstances that make it impractical to complete the program, the Institution shall make a settlement that is reasonable and fair to both parties. Students may repeat a class. If the Student should withdraw from the program for any reason, based on the refund policy, the hours or weeks in attendance for repeating a class, depending on the program, will be used in the program completion percentage calculation in determining the Student’s financial obligation to the Institution.