Hypothetical Refund Example. Students have a right to a full refund of all charges, less the $150 Application fee, if the student cancels the enrollment agreement on the first day of class or on the seventh day after signing this agreement. The amount retained by the school will not exceed the $150 (one hundred fifty dollars) Application fee. If a student withdraws from the program after instruction has begun, the student will receive a pro rata refund for the unused portion of the tuition and other refundable charges if the student has completed 60% or less of the instruction. The date of withdrawal is the date of cancellation and is determined as the date the student notifies the school of the decision to cancel, or the last date of attendance if the student fails to notify the school. The student will be charged for all hours attended. For example, if the Student completes 50 hours of a 100-hour course and paid $2,000 for tuition-in-full, the student would receive a refund of $1,000. The School will refund money collected from a third party on the student’s behalf, such as Veteran’s Benefits and/or WIA funds, if the school cancels or discontinues the course in which the student is enrolled, or if the student drops out. If any portion of the tuition was paid from the proceeds of a third party, the refund will be sent to the lender or agency that guaranteed the funds. Any remaining amount will first be used to repay any student financial aid programs from which the student received benefits, in proportion to the benefits received. Any remaining amount of money will be paid to the student. If the student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. If the student has received federal student financial aid funds, the student is entitled to a refund of moneys not paid from federal student financial aid program funds. If the student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. Additionally, if the student has received federal student financial aid funds, the student is entitled to a refund of $2000 / 100 = $20/ 50/ $1000 / $1,000 Tuition / Total Hourly / Hours / Total Due / Total Due Paid By / Hours Charge / Completed /to School / to Student Student CANCELLATION AND REFUND POLICY Cont’ moneys not paid from federal student financial ai...
Hypothetical Refund Example. Assume that a student, upon enrollment in a 720 clock-hour training program, pays $6,000 tuition. The student then withdraws after completing 600 clock-hours. The statutory pro-rata refund to the student would be as follows:
Hypothetical Refund Example. Assume that a student, upon enrollment in a 400 hour course, pays the full tuition of $2,000, $100 for non-refundable registration and $150 for equipment as specified in the Enrollment Agreement and withdraws after completing 100 hours without returning the equipment he/she obtained. The pro rata refund to the student would be $1,500 based upon the above calculations. If the student returns equipment in good condition within thirty [30] days following his/her withdrawal, the School shall refund the charge for the equipment paid by the student.
Hypothetical Refund Example. A student enrolls in a BA degree program. The student notifies the Xxxx at the midpoint of the semester of his/her intention to withdraw. The tuition and fees charged for that semester are $8,000 (does not include equipment, books and software). $250 nonrefundable deposit is applied to all cancellations. Therefore, the tuition and fees applicable to the refund policy = $8,000 (tuition and fees) - $250 (nonrefundable deposit) = $7,750. The refund schedule, based on the student’s date of withdrawal, determines that 50% of the fees will be refunded to the student and 50% retained by the College. 0.50 (fraction from the refund schedule as of the student withdrawal date) x $7,750 = $3,875 (amount of the fees refunded to the student). The student refund/College retention of the fees is as follows: $8,000 (amount student paid) - $4,125 (amount College retains) = $3,875 (refund). The student in this example is assumed to have paid cash and received no financial aid. The State of California established the Student Tuition Recovery Fund (STRF) to relieve or mitigate economic loss suffered by a student in an educational program at a qualifying institution, who is or was a California resident while enrolled, or was enrolled in a residency program, if the student enrolled in the institution, prepaid tuition, and suffered an economic loss. Unless relieved of the obligation to do so, you must pay the state-imposed assessment for the STRF, or it must be paid on your behalf, if you are a student in an educational program, who is a California resident, or are enrolled in a residency program, and prepay all or part of your tuition. You are not eligible for protection from the STRF and you are not required to pay the STRF assessment, if you are not a California resident, or are not enrolled in a residency program. NOTICE CONCERNING TRANSFERABILITY OF CREDITS AND CREDENTIALS EARNED AT OUR INSTITUTION The transferability of credits you earn at Oak Valley College is at the complete discretion of an institution to which you may seek transfer. Acceptance of the Bachelor of Arts in Business degree you earn is also at the complete discretion of the institution to which you may seek to transfer. If the Bachelor of Arts degree that you earn at this institution is not accepted at the institution you seek to transfer, you may be required to repeat some or all of your coursework at that institution. For this reason you should make certain that your attendance at this institution will mee...
Hypothetical Refund Example. Assume that a student, upon enrollment in a 52 hour course, pays $225.00 for tuition, $60.00 for registration and $60.00 for books as specified in the Enrollment agreement and withdraws after completing 16 hours without returning the equipment he/she obtained. The pro rata refund due to the student would be $148.92 based on the calculation stated below. If the student returned the equipment in good condition within 30 days following his/her withdrawal, the institution shall refund the charge of the equipment paid by the student. Tuition + Registration + Books=$375.00,Less registration fee ($60.00), Book($60),Total for calculation $255.00 $255.00 divided by 48 hours=$5.31 per hr (quotient) 16 hours completed X $5.31 hr=$84.96 tuition charge Add registration fee $60.00, plus tuition $84.96, plus $60.00 for book, total charges of attending school $204.96, deducted from the total paid of $375.00 Refund due is $170.04. Business Name : Business Telephone Number :
Hypothetical Refund Example. Assume that a student, upon enrollment in a 400 hour course, pays $2,000 for tuition, $75 for registration and $150, documented cost to school, for equipment as specified in the Enrollment Agreement and withdraws after completing 100 hours without returning the equipment he/she obtained. The pro rata refund to the student would be $1,462 based upon the calculations stated below. If the student returns the equipment in good condition within thirty [30] days following his/her withdrawal, the School shall refund the charge for the equipment paid by the student. $2,225 total paid Minus $75 registration fee [the amount the school may retain] = $2,150 $2150 Divided by: 400 hours in the program = $5.38 Hourly charge for the program $2,150 Minus $150 [documented cost of unreturned equipment] = $2,000 Total refundable amount $5.38 Multiplied by: 100 hours of instruction attended = $538 Owed by the student for instruction received. $2,000 Minus $538 = $1,462 total refund amount* If the student returns the equipment in good condition, allowing for reasonable wear and tear, the actual refund to the student would be $1,612 [$1,462 + $150]. For the purpose of determining the amount you owe for the time you attended, you shall be deemed to have withdrawn from the course when any of the following occurs:
Hypothetical Refund Example. Assume that a student, upon enrollment in a 400 hour program, pays the full tuition of $2,000, $100 for non-refundable registration and $150 for equipment as specified in the Enrollment Agreement and withdraws after completing 100 hours without returning the equipment he/she obtained. The pro rata refund to the student would be $1,500 based upon the above calculations. If the student returns equipment in good condition within thirty [30] days following his/her withdrawal, the School shall refund the charge for the equipment paid by the student. If the student has received federal student financial aid funds, the student is entitled to a refund of moneys not paid from federal student financial aid program funds.
Hypothetical Refund Example. Assume that a student, upon enrollment in a 400 hour course, pays $2,000 for tuition and $75 for the Application Fee as specified in the Enrollment Agreement, and withdraws after completing 100 hours. The pro rata refund to the student would be $1,500 based upon the calculations stated below. $2,075 Total paid Minus $75 Application Fee [the amount the school may retain] = $2,000 $2,000 Divided by: 400 hours in the program = $5 Hourly charge for the program $5 Multiplied by: 100 hours of instruction attended = $500 Owed by the student for instruction received. $2,000 Minus $500 = $1,500 Total refund amount* REFUND TABLE (Based on Actual Cost of Educational Service): Refundable Amount 40% Refund 55% Refund 70% Refund 85% Refund 100% Refund $2,000 $800 $1,100 $1,400 $1,700 $2,000 For the purpose of determining the amount you owe for the time you attended, you shall be deemed to have withdrawn from the course when any of the following occurs:
Hypothetical Refund Example. The following table outlines the refund due based on percentage of training completed, assuming you paid the following: Total Less Fee for Less Tuition Contract Registration Supplies Fee $8,075 $0.00 $2000 $6000 % Completed Refund Due % Completed Refund Due 10% $5,400 60% $3,600 25% $4,500 75% $1,500 50% $3,000 100% -0- For programs over 12 months, if you withdraw prior to the next 12 month period, all charges, collected for that next period will be refunded. For the purpose of determining the amount you owe, you shall be deemed to have withdrawn from the course when any of the following occurs: (a) You notify School of your withdrawal or the actual date of withdrawal; (b) School terminates your enrollment; (c) You fail to attend classes for a three week period; (d) You fail to return from a leave of absence.
