Refund Policy

Student Refund Policy - All Students

In compliance with Federal regulations, it is Immaculata University’s policy that credit balances on a student account resulting from the receipt of Federal funds be refunded to the student, third party (such as a borrower) or lending institution. Immaculata will process refunds within 14 days of the start of the term and weekly during the term in accordance with Federal guidelines.

To be eligible for a refund, you must meet the criteria below. Once the criteria is met, your refund will be processed.

• Undergraduate full time – enrolled in at least 12 credits and all classes must have started.
• Undergraduate part time – enrolled in at least 6 credits and all classes must have started.
• Graduate Studies – enrolled in at least 4.5 credits and all classes must have started.

The Business Office processes and mails refund checks to the home address provided by the student. By logging on to MyIU and going to the Student Account center tile, students may elect to have their refunds deposited directly into their bank account. Refunds are based on the disbursement of funds and the order in which they are received on the student account. Refunds are issued to the student unless the Parent PLUS Loan creates the credit to be refunded. In this case, the refund will be issued to the borrower.

Credit balances resulting from non-Federal funds will be processed within three weeks after the credit occurs and issued to the appropriate party.

Credit balances (up to $800) may be transferred to the student’s University OneCard to purchase books at the Campus Store. We recommend you estimate the cost of books prior to contacting the Business Office who will transfer the funds to the OneCard.

Once a student has graduated or is no longer enrolled at Immaculata and all financial obligations have been met, eligible refunds will be issued.

Contact studentaccounts@immaculata.edu for further information.

Collection Practice

Immaculata University reserves the right to assign overdue account balances to collection agencies.

Once an account is assigned to a collection agency, all communication by the student must be made through the collection agency. Accounts are reported to credit bureaus. Students are responsible to reimburse Immaculata for fees of any collection agency, which may be based on a percentage of the debt up to a maximum of 40% of the debt, and all costs and expenses, including reasonable attorney’s fees, incurred in the collection efforts. All payments must be made directly to the collection agency; Immaculata cannot accept direct payments once an account is placed with a collection agency. The account is considered paid in full when the total debt is paid.

Tuition Refund And Academic Credit Policy

For students paying full-time or per-credit tuition, requests to drop or withdraw from a course must be stated in writing to the appropriate college. See the Change of Courses section of this catalog for the specific procedures. The cessation of attendance and/or failure to log into a course does not constitute an official withdrawal. A fee associated with any course is not refundable once the term has begun.

Full-Time Tuition Rate Refunds

Immaculata University will refund undergraduate full-time tuition when the student withdraws prior to the end of the fourth calendar week of class according to the following chart.

Type	Definition	Refund Amount	Transcribed as
Drop	Notification has been received prior to first class meeting	100%	Not Recorded
Drop	Notification during the 1st calendar week of classes	80%	Not Recorded
Drop	Notification during the 2nd calendar week of classes	60%	Not Recorded
Drop	Notification during the 3rd calendar week of classes	40%	Not Recorded
Withdrawal	Notification during the 4th calendar week of classes	20%	W
Withdrawal	Notification after the 4th calendar week of classes	0%	W

Per Credit Tuition Rate Refunds

Full Semester Classes (12-15 Weeks)

When a student withdraws from a course that meets more than once per week, Immaculata University will refund tuition on a calendar week basis, according to the following chart:

Type	Definition	Refund Amount	Transcribed as
Drop	Notification has been received prior to first class meeting	100%	Not Recorded
Drop	Notification during the 1st calendar week of classes	80%	Not Recorded
Drop	Notification during the 2nd calendar week of classes	60%	Not Recorded
Drop	Notification during the 3rd calendar week of classes	40%	Not Recorded
Withdrawal	Notification during the 4th calendar week of classes	20%	W
Withdrawal	Notification after the 4th calendar week of classes	0%	W

Accelerated Classes (7-8 Weeks)

When a student withdraws from a course that meets 7-8 weeks, Immaculata University will refund tuition on a calendar week basis, when notification occurs as follows:

Type	Definition	Refund Amount	Transcribed as
Drop	Notification has been received prior to first class meeting	100%	Not Recorded
Drop	Notification during the 1st calendar week of classes	80%	Not Recorded
Drop	Notification during the 2nd calendar week of classes	40%	Not Recorded
Withdrawal	Notification during the 3rd calendar week of classes	20%	W
Withdrawal	Notification after the 3rd calendar week of classes	0%	W

Accelerated Classes (5- 6 Weeks)

When a student withdraws from an accelerated course that meets once per week, Immaculata University will refund tuition on a calendar week basis on a calendar week basis, when notification occurs as follows:

Type	Definition	Refund Amount	Transcribed as
Drop	Notification has been received prior to first class meeting	100%	Not Recorded
Drop	Notification during the 1st calendar week of classes	80%	Not Recorded
Withdrawal	Notification during the 2nd calendar week of classes	20%	W
Withdrawal	Notification after the 2nd calendar week of classes	20%	W

Classes with Four or Fewer Class Meetings

When a student withdraws from a course that meets four or fewer times over the entire semester, Immaculata University will refund tuition on a calendar week basis, according to the following chart:

Type	Drop Date	Refund Amount	Transcribed as
Drop	Notification has been received prior to the first class meeting	100%	Not Recorded
Withdrawal	Notification after first class meeting	0%	W

Room Charge & Meal Plan Refunds

Refunds for room charges and meal plans are as follows for the fall and spring terms:

Date	Refund Amount
Prior to the start of the term	100%
Within the first week	80%
Within the second week	60%
Within the third week	40%
Within the fourth week	20%

The start of the term is the first day of academic classes each semester. No refunds will be granted past the start of the fifth week of each semester for room or meal plan charges. Students are responsible for maximizing the use of their meal plan during any given semester. No partial refunds will be given for students who did not use all meal swipes allotted to them in their chosen meal plan.

Summer housing is available on a limited basis to students registered for classes or with a significant University-related reason for remaining on campus. There are no refunds given for summer room charges after the start of summer classes. No meal plans are available for purchase over the summer.

Students seeking early termination of the Housing & Board Agreement must submit a request to the Office of Residence Life and Housing. Submitting a request does not guarantee termination of the Agreement. If a request to terminate this agreement is received prior to June 1st for fall semester and prior to December 1st for spring semester, the deposit will be returned less any outstanding financial obligations. Otherwise, the deposit is forfeited. An early termination fee may be charged to the student account. Refer to the Housing & Board Agreement form for additional information.

Return Of Title IV Funds

The Financial Aid Office is required by Federal statute to determine how much financial aid was earned by students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term.

For a student who withdraws after the 60% point-in-time, there are no unearned funds. However, a school must still complete a return calculation in order to determine whether the student is eligible for a post-withdrawal disbursement.

The calculation 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 and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.

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.

The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.

Refunds are allocated in the following order:

• Federal Direct Unsubsidized Direct Loans (other than PLUS loans)
• Federal Direct Subsidized Direct Loans
• Federal Direct Graduate PLUS Loans
• Federal Direct Parent PLUS Loans
• Federal Pell Grants for which a return of funds is required
• Federal Supplemental Opportunity Grants for which a return of funds is required
• Other assistance under this title for which a return of funds is required (e.g., LEAP)

Grade Level Advancement Policy

The following is the credit/classification table:

Classification	Cumulative Credits
Freshman	0.0 – 23.0
Sophomore	24.0 – 53.0
Junior	54.0 – 89.0
Senior	90.0 +

The chart below demonstrates how grade level is determined at Immaculata.

Class	Quarter Credits	Grade Level
Freshman year	0 – 23.0	1
Sophomore year	24.0 – 53.0	2
Junior year	54.0 – 89.0	3
Senior year	90.0 – 999	4
Graduate	0 – 999 quarter or semester credits	N/A

Return of Tuition Assistance: Military Tuition Assistance (Ta)

The TA is awarded to a student under the assumption that the student will attend school for the entire period for which the assistance is awarded. When a student withdraws, the student may no longer be eligible for the full amount of TA funds originally awarded.

To comply with the new Department of Defense policy, (Immaculata University) will return any unearned TA funds on a prorate basis through at least the 60% portion of the period for which the funds were provided. TA funds are earned proportionally during an enrollment period, with unearned funds returned based upon when a student stops attending. These funds are returned to the military Service branch.

Instances when a Service member stops attending due to a military service obligation, the educational institution will work with the affected Service member to identify solutions that will not result in student debt for the returned portion.

8- Week Course withdraw submitted
Before or during week 1 100%	During week 2 75%	During weeks 3-4 50%	During week 5 40%	During weeks 6-8 No Return
15-Week Course Withdraw submitted
Before or during weeks 1-3 100%	During weeks 4-5 75%	During weeks 6-8 50%	During weeks 9 40%	During weeks 10-15 No Return