Refund Policy Examples

Example A

Laurie is a first time attendee at BSC, enrolled in 12 credits during the fall semester.  Laurie withdraws on 9/15/05 (during the second week of classes).  Based on the Refund Policy, Laurie receives an 85% refund on her tuition and fees.  She is responsible for paying 15%.

Because Laurie withdrew on the second day of class, she only completed 7.5% of the semester.  Since she only ‘earned’ 7.5% of her financial aid, she is only entitled to receive 7.5% of the financial aid that she was eligible to receive on the date that she withdrew.

	Original Bill	Revised Bill
Day Tuition	455.00	68.25
SGA Fee	24.00	24.00
Technology Fee	15.00	15.00
Day Fees	2624.00	393.60
Orientation Fee	120.00	120.00
Health Insurance	1250.00	1250.00
Parking Decal	100.00	100.00
Total Bill	$4588.00	$1955.85

	Original Financial Aid	Eligible Aid At Time of Withdrawal	Revised Financial Aid
BSC Fee Grant	1000.00	1000.00	75.00
Direct Sub. Loan	1750.00	0.00   (withdrew prior to 30 days)	0.00
Expected Massgrant	400.00	0.00    (was expected, not actual)	0.00
Pell Grant	1375.00	1375.00	103.00
Perkins Loan	1000.00	0.00      (did not sign note)	0.00
Total Aid	$5525.00	$2375     (1375 Federal, $1000 other)	$178.00

Originally, Laurie did not owe anything on her bill (she was expecting a refund of $930+ to help with other educational expenses).  After the refund process, she now owes the college $1777+ as a result of her withdrawal.

Example B

Mike is a returning student, enrolled in 12 credits, living in campus housing.  Mike withdraws on 9/30/05 (during the 4^th week of classes).  Based on the Refund Policy, Mike is not entitled to receive any refund on his billed charges.  He is responsible for paying 100%.

Based on Mike’s date of withdrawal, he completed 21.7 % of the semester.  Since he only ‘earned’ 21.7% of his aid, he is entitled to receive 21.7% of the financial aid that he was eligible for on the date that he withdrew.

	Original Bill	Revised Bill
Day Tuition	455.00	455.00
SGA Fee	24.00	24.00
Technology Fee	15.00	15.00
Day Fees	2624.00	2624.00
Parking Decal	100.00	100.00
Room	1600.00	1600.00
Board	1200.00	1200.00
Total Bill	$6018.00	$6018.00

 

	Original Financial Aid	Eligible At Time of Withdrawal	Revised Financial Aid
Direct Sub. Loan	1750.00	1750.00	0
Actual Mass Grant	300.00	300.00	65.00
Pell Grant	1375.00	1375.00	678.00
Total Aid	$3425.00	$3425.00 (3125 Federal, $300 other)	$743.00

Originally, Mike owed $2590+ on his bill.  After the refund process, he now owes the college $5275 as a result of his withdrawal.

Example C

Justin is a freshman commuter who is enrolled full time.  He withdraws on November 20, 2005.  Based on the Refund Policy, Justin is not entitled to receive any refund on his billed charges.  He is responsible for paying 100%.

Based on Justin’s date of withdrawal, he has completed at least 60% of the semester, so he is entitled to keep 100% of his financial aid.

Last Modified: July 23, 2008