WADE COLLEGE STUDENT CONSUMER INFORMATION WEBSITE

Refund Policies

A student who withdraws or is administratively withdrawn from Wade College within certain time periods of a trimester may be eligible to receive a refund for a portion of the institutional charges that were paid to Wade College for the trimester.  However, if the student received federal student financial aid (federal grants or loans), all or a portion of the refund will be returned to the federal student financial aid programs as follows:

  1. Federal Unsubsidized Direct Loan
  2. Federal Subsidized Direct Loan
  3. Federal Direct PLUS Loan
  4. Federal Pell Grant
  5. Other Title IV Aid
  6. Other Aid and/or Scholarships

The college reserves the right to apply any student payment, or any refund due to a student, to any student financial account that is in arrears.

Wade College Refund Policy
In the event of enrollment cancellation, withdrawal by the student, or termination by the college, the following policies apply:

  1. If a student decides not to enroll within three days of paying the registration fee, all such monies will be refunded when requested in writing by the student.
  2. If a student decides not to enroll for his or her matriculation trimester, all monies paid (less registration fee and/or application fee) will be refunded when requested in writing by the student.
  3. Prepaid tuition and fees for any period beyond the student’s current trimester will be refunded in full.
  4. In the event of withdrawal by the student or termination by the college during any trimester of study, the registration fee, graduation fee, and application fee are nonrefundable and nontransferable.
  5. A student who officially withdraws from the college during the first four weeks of the trimester is eligible for a refund of tuition according to the following schedule:
Time Period Amount Refunded
Prior to the first day of classes 100%
First week of classes 70%
Second week of classes 60%
Third week of classes 50%
Fourth week of classes 40%
After the fourth week of classes None


Federal "Return Of Title IV Aid" Policy
This policy applies to students who withdraw (officially, unofficially, or fail to return from a Leave of Absence) or are dismissed from enrollment at Wade College.  It is separate and distinct from the Wade College Refund Policy contained in this catalog.   The calculated amount of the "Return of Title IV Funds" that is required for students affected by this policy is determined according to the following definitions and procedures, as prescribed by regulation:

Though the student’s Title IV aid may be posted to his or her account at the start of each period, the student earns the funds as he or she completes the period. If the student withdraws during his or her payment period (the college can define the payment period for the student), the amount of Title IV aid that the student has earned up to that point is determined by a specific formula. If the student received (or the college or the student’s parent received on the student’s behalf) less assistance than the amount that he or she earned, the student may be able to receive those additional funds. If the student received more assistance than he or she earned, the excess funds must be returned by the college and/or the student.

Wade College has 45 days from the date the institution determines that the student withdrew to return all unearned funds for which it is responsible.

The Return of Title IV Funds (R2T4) regulation does not dictate the institutional refund policy.   The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges.

Withdrawal before 60%
Wade College must perform an R2T4 to determine the amount of earned aid up through the 60% point in each payment period.  The institution will use the Department of Education’s prorated schedule to determine the amount of R2T4 funds the student has earned at the time of withdrawal.  After the 60% point in the payment period, a student has earned 100% of the Title IV funds he or she was scheduled to receive during the period. The institution must still perform a R2T4 to determine the amount of aid that the student has earned.

Withdrawal after 60%
For a student who withdraws after the 60% point-in-time, there are no unearned funds.  However, Wade College must still determine whether the student is eligible for a post-withdrawal disbursement.

Example of Calculation:
1.Determine the percentage of Title IV aid earned by the student by taking the calendar days completed in the payment period, divided by the total calendar days in the payment period (excluding breaks of five days or more AND days the student was on an approved LOA).  18 (completed days)/118 (total days) = 15.3% (% of completed calendar days)
2.Determine the amount of Title IV aid earned by the student by multiplying the percentage of Title IV aid earned times the total of the Title IV aid disbursed plus the Title IV aid that could have been disbursed for the payment period.  15.3 % X $2,805.00 = $429.17 (amount of aid earned by student)
3.If this amount is greater than the total Title IV aid disbursed for the payment period, a post-withdrawal disbursement will be calculated; if the amount is less than the amount of Title IV aid disbursed, the difference will be returned to the Department of Education.

Withdrawals – Official vs. Unofficial
A student who withdraws is one who either officially goes through a withdrawal from Wade College, unofficially withdraws (is administratively withdrawn), is suspended, or officially withdraws and submits it in writing to the Office of the President.

A student's withdrawal date is determined by using one of the following:

•    the date the student began the institution's official withdrawal process or officially notified the institution of intent to withdraw; or
•    the midpoint of the period for a student who leaves without notifying the institution; or
•    the student's last date of attendance at a documented academic-related activity.

A student may rescind his or her official notification to withdraw by filing a written statement with the Office of the President that he or she is continuing to participate in academically-related activities and intends to complete the term (payment period) for which payment of Title IV funds were or would be received. The rescission of withdrawal is negated if the student subsequently ceases to attend prior to the end of the payment period. The withdrawal date then is the student’s original date of withdrawal unless there is acceptable documentation showing a later date of attendance at an academically-related activity and the college chooses to use such date.

Failure to Return from an Official Leave of Absence (LOA)
If a student does not return on his or her scheduled date from a documented Leave of Absence, Wade College will withdraw the student within ten days after they were scheduled to return.  Their withdrawal date will be the day the Leave of Absence began.

Earned Title IV Aid
Title IV Aid is earned in a prorated manner on a per diem basis (calendar days) up to the 60% point in the trimester. Title IV Aid is viewed as 100% earned after that point in time. A copy of the worksheet used for this calculation can be requested from the Office of the Director of Financial Services.

In accordance with federal regulations, when Title IV financial aid is involved, the calculated amount of the R2T4 Funds is allocated in the following order:

1.    Federal Unsubsidized Direct Loan
2.    Federal Subsidized Direct Loan
3.    Federal Direct PLUS Loan
4.    Federal Pell Grant
5.    Other Title IV Aid
6.    Other Aid and/or Scholarships

Wade College’s responsibilities in regard to the return of Title IV funds follow:

•    providing students with the information given in this policy;
•    identifying students who are affected by this policy and completing the Return of Title IV Funds calculation for those students; and
•    returning any Title IV funds that are due the Title IV programs.

The student's responsibilities in regard to the return of Title IV funds include:

•    returning to the Title IV programs any funds that were disbursed to the student and which the student was determined to be ineligible for via the Return of Title IV Funds calculation;
•    notifying of a withdrawal via written form;
•    notifying of an intent to rescind a withdrawal notice via written form; and
•    notifying the Office of the President of a notification of withdrawal or rescission of intent to withdraw.

If you would like examples of the worksheets for this Return of Title IV Funds policy, contact the Office of the Director of Financial Services at (214) 637-3530.

Post Withdrawal
If the student does not receive all of the funds that he or she has earned, the student may be due a post-withdrawal disbursement. Wade College has 30 days from the date the institution determines that the student withdrew to notify the student (or the student's parent for a parent PLUS Loan) of his or her eligibility for a post-withdrawal disbursement of a Title IV aid. 

The college must advise the student or parent that he or she has 14 calendar days from the date the college sent the notification to accept a post-withdrawal disbursement.  If a response is not received from the student or parent within the permitted time frame or the student (or the student's parent for a parent PLUS Loan) declines the funds, the college will return any earned funds that the college is holding to the Title IV programs within 45 days from the date the institution determines that the student withdrew.  

If the post-withdrawal disbursement includes Title IV grant funds, the college has up to 45 days from the date the institution determines that the student withdrew to make the post-withdrawal disbursement directly to the student or up to 180 days from the date the institution determines that the student withdrew to credit the post-withdrawal disbursement to the student’s account for outstanding charges.

If the post-withdrawal disbursement includes Title IV loan funds, the college must get the student's permission before it can disburse the funds. The student may choose to decline some or all of the loan funds so that he or she does not incur additional debt.  The college may automatically use all or a portion of the student's post-withdrawal disbursement (including loan funds, if he or she accepts them, for tuition and fees).  For all other institutional charges, the institution needs the student's permission to use the post-withdrawal disbursement. If student does not give his or her permission, he or she will be offered the funds. However, it may be in student's best interest to allow the college to keep the funds to reduce his or her debt at the college.  The college has up to 180 days from the date the institution determines that the student withdrew to make the post-withdrawal disbursement.

There are some Title IV funds that the student was scheduled to receive that may not be disbursed to him or her once he or she withdraws because of other eligibility requirements.

If the student receives (or the college or the student’s parent receives on the student’s behalf) excess Title IV program funds that must be returned, the college must return a portion of the excess equal to the lesser of:
1. the student’s institutional charges multiplied by the unearned percentage of the student’s funds, or
2. the entire amount of excess funds.

The college must return this amount even if it didn’t keep this amount of the student’s Title IV program funds.

If the institution is not required to return all of the excess funds, the student must return the remaining amount.   Any loan funds that the student must return, the student (or the student's parent for a parent PLUS Loan) repay in accordance with the terms of the promissory note.  That is, the student makes scheduled payments to the holder of the loan over a period of time.

Any amount of unearned grant funds that the student must return is called an overpayment. Wade College has 30 days from the date the institution determines that the student withdrew to notify the student of a grant overpayment. The college is required to notify the student if he or she owes a repayment via written notice.   The maximum amount of a grant overpayment that the student must repay is half of the grant funds he or she received or was scheduled to receive. The student does not have to repay a grant overpayment if the original amount of the overpayment is $50 or less. The student must make arrangements with the college or the Department of Education to return the unearned grant funds.

The requirements for Title IV program funds when the student withdraws are separate from the Wade College Refund Policy. Therefore, the student may still owe funds to the college to cover unpaid institutional charges. Wade College may also charge the student for any Title IV program funds that the college was required to return. If the student does not already know what the Wade College Refund Policy is, the student should ask the Director of Financial Services for a copy.

Wade College can also provide the student with the requirements and procedures for officially withdrawing from college.

If the student has questions about his or her Title IV program funds, the student can call the Federal Student Aid Information Center at 1-800-4-FEDAID (1-800-433-3243).   TTY users may call 1-800-730-8913. Information is also available on Federal Student Financial Aid on the Web at https://studentaid.ed.gov/sa/

This policy is subject to change at any time, and without prior notice.

ADDING/DROPPING COURSES

In any trimester, the last official day to make schedule changes, including adding or dropping a class, is the eighth (8th) day after the trimester’s official start date (see “Academic Calendar”).  Schedule changes must be completed by 5 p.m. on the deadline dates specified in the “Academic Calendar.” 

Students who wish to add or drop a course after registration, but prior to the add/drop period deadline, must complete an official Add/Drop Form in the Office of the Director of Academic and Student Affairs.  There is no fee or grade associated with this procedure if done during the add/drop period.  No course(s) may be added after the deadline date specified in the “Academic Calendar.”

Courses that are dropped after the add/drop period, but prior to the end of the tenth (10th) week of the trimester, will result in a grade of W.  Courses dropped after the tenth (10th) week will result in the grade of WF.

While every effort is made by the Office of the Director of Academic and Student Affairs to assist a student in planning his or her schedule, it is the student’s responsibility to know course sequence, course requirements, and prerequisites as listed in the Wade College Catalog.

A student who is enrolled in a college preparation course may not drop such course without approval from the Director of Academic and Student Affairs.

International students and students receiving financial aid or veteran’s assistance should notify the Office of the Director of Financial Services before dropping any class to learn how it will affect current or future financial aid eligibility.

TUITION ADJUSTMENTS

During the add/drop period, students may drop a course they have attended without being charged for the course, provided withdrawing from that course does not constitute withdrawing from the college in which case the withdrawal policy will apply; however, students will be assessed the institutional costs for any textbooks (electronic or print) and supplies that the student received for the dropped course(s). 

A tuition adjustment results when a student officially changes enrollment status (full-time to part-time, part-time to full-time, or part-time to less than part-time) during the add/drop period.  Adjustments will not be made for students dropping individual courses after the add/drop period.

LEAVE OF ABSENCE

If a student needs to interrupt his or her studies due to unforeseen personal circumstances, the student may apply for a leave of absence through the Office of the Director of Academic and Student Affairs.  A leave of absence must be approved by the Director of Academic and Student Affairs, who will determine if there is a reasonable expectation that the student will return to school.  The request must be in writing, must give the date the leave is to begin and the date the student is expected to return, and must not be taken while the student is registered for classes.  The approved leave of absence form must be signed by the student and the approving school officials. Grounds for an approved leave of absence include:

a.           Death of an immediate family member

b.          Student illness requiring hospitalization (including mental health issues)

c.           Illness of an immediate family member where the student is a primary caretaker

d.          Illness of an immediate family member where the family member is the primary financial support

e.          Abusive relationships

f.            Divorce proceedings

g.           Previously undocumented disability

h.          Work-related transfer during the trimester

i.            Change in work schedule during the trimester

j.            Natural disaster

k.           Family emergency

l.            Financial hardship such as foreclosure, eviction, or loss of job

m.         Loss of transportation where there are no alternative means of transportation

n.          Documentation from a professional counselor or physician

If approved, the leave of absence is not considered a withdrawal unless the student does not return from the leave.  The student will retain in-school status during the leave.   A leave of absence cannot exceed 180 days in any 12-month period, and only one leave of absence may be granted in a 12-month period.  The 12-month period begins on the first day of the student’s first leave of absence. A series of non-consecutive days may be approved as one leave.  No additional institutional charges are generated during the leave.  When a student returns from a leave of absence, he or she will continue the academic program from where he or she left.

Students receiving financial aid should consult the Office of the Director of Financial Services before deciding to request a leave of absence to learn if, or how, it will affect current or future financial aid eligibility. Any student receiving veteran’s educational benefits will be reported to the Department of Veterans Affairs.  The student may be re-certified for educational benefits upon return from the Leave of Absence.

WITHDRAWAL FROM COLLEGE

Any student who desires to officially withdraw from the college must report to the Office of the President and submit an official notification.  Following an exit interview with the President, the student will be issued a withdrawal form in order to provide written notice of intent to withdraw.  The Office of the President will process the withdrawal paperwork and follow the appropriate regulations for terminating the student’s federal financial aid, if any. Within 45 days of the date that official notification was provided, the student will be mailed a statement of account.

READMISSION

A former Wade College student who did not attend Wade College the previous trimester and who was not on an official leave of absence must apply for re-admission through the Office of the Director of Academic and Student Affairs and, if applicable, the Office of the Director of Financial Services. The former student must be in good standing with the college and must present justification for re-admission.  Students who interrupt their education will be subject to any changes in fees, curricula, and graduation requirements that took effect during their absence.

 

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