158 rasmussen.edu | 888-5-RASMUSSEN ACADEMIC INFORMATION AND UNIVERSITY POLICIES Federal Distribution of Funds Policy Once the refund liability for a particular student has been determined, the federal portion of the refund shall be distributed back to the various programs in the following manner: • All refund monies shall first be applied to reduce the student’s Federal Direct Unsubsidized Stafford, Federal Direct Subsidized Stafford, and Federal Direct PLUS loans received on behalf of the student. • Any remaining refund monies will then be applied to reduce the student’s Federal Pell Grant award. • Any remaining refund monies will then be applied to reduce the student’s Federal SEOG award. • Other Federal SFA Programs authorized by Title IV Higher Education Act. Non-Federal Refund Distribution Policy A. For Florida Campuses If the disbursement is made of the Florida State Assistance Grant (FSAG) while the student is enrolled, no refund will be due. If the disbursement is made while the student is no longer in attendance, a full refund to the FSAG program is due. A student must be attempting a minimum of six credits per quarter to be eligible to receive Bright Futures scholarship funding. If a student receiving Bright Futures scholarship funds withdraws from course(s) after the drop/add period, the student will be required to repay the institution for the amount of the scholarship for those course(s) withdrawn from. B. For Minnesota Campuses Refunds for state aid programs are calculated on a proportional basis. To calculate the minimum refund due to the Minnesota State Grant program, the SELF Loan program, and other Minnesota State Aid Programs (except for the State Work Study program), the following formula is used: Amount of funds (financial aid and cash) applied to institutional charges (including post-withdrawal disbursements of Title IV aid applied to institutional charges) less: Amount of institutional charges that the school can retain per our state mandated refund policy less: Amount of Institutional Share of the Title IV Refund = Remaining refund due to the State Aid programs Ratios are then determined for each of the State Financial Aid programs as part of the total non-Title IV financial aid disbursed to the student (for the period during which the student withdrew). These ratios are then multiplied against the remaining refund due to the State Aid programs to determine the proportional minimum refund due to both the State Grant and SELF programs. If the student received funds from other State Aid programs, those refunds would be calculated in the same manner. Note that for purposes of calculating institutional charges in the State Refund Calculation, the definition for Title IV programs is used. • Any remaining refund monies will then be applied to reduce the student’s Minnesota State Grant award and/or Minnesota SELF Loan. • Any remaining refund monies will then be applied to any other sources. C. For North Dakota Campuses If the disbursement is made of the North Dakota State Grant while the student is enrolled full time, no refund is due. If the disbursement is made while the student is no longer in attendance, a full refund to the North Dakota State Grant program is due. D. For Illinois, Kansas, and Wisconsin Campuses Please note that Illinois, Kansas, and Wisconsin do not have state grant programs, so the Non-Federal Refund Distribution Policy does not apply to students attending campuses in Illinois, Kansas, or Wisconsin. Exit Interviews Students contemplating the termination of their education at Rasmussen University should contact the Dean of Nursing/Nurse Administrator, Campus Executive Director, or Advisor. All students graduating or withdrawing are required to complete a mandatory online exit interview. During this interview, students receive information regarding their loan(s) including address and telephone numbers of lenders, deferment requests, a list of qualifications, a sample repayment guide, loan consolidation information, and review of loan terms. Academic and financial aid files are not complete until both exit interviews have been completed. The Advisor is available for assistance for the duration of the student’s loan. Rasmussen University reserves the right to withhold the release of academic information, and other records, pending settlement of any amount due to the University. Extended Quarter Break Stop-Out Policy Rasmussen University encourages students to remain continuously enrolled in their program through graduation. Rasmussen University recognizes that, on occasion, an accepted student may experience an extraordinary personal situation for which the student may need an extended break between quarters. A student with an extenuating circumstance may apply for the Extended Quarter Break Stop-Out. Students who are enrolled and meeting the standards of Satisfactory Academic Progress at the end of one quarter may apply for an extended break for either Term 1 or 2 of the following quarter. The student must complete Term 2 immediately prior to the Stop-Out quarter. Under no circumstances will a Stop-Out be approved for a student to take two consecutive Term Stop-Outs (i.e., Term 2 of Fall Quarter and Term 1 of Winter Quarter or Term 1 & 2 of the same quarter). The student must commit to returning in the immediate next Term following the approved Extended Quarter Break Stop-Out or the student will be withdrawn from Rasmussen University. Students who are receiving Title IV funding must be scheduled to take at least six instructor- led credits in the Term immediately following the Extended Quarter Break Stop-Out period. The student must meet with his or her Advisor in order to obtain a Stop-Out Request form. The Advisor will provide the student with the necessary information to make an informed decision. The Stop-Out Request form must be signed on or before the last business day to drop courses in the quarter for which the Extended Quarter Break Stop-Out is being requested. Stop-Out Request forms received after the last day to drop courses will not be honored. Students will remain continuously enrolled and will not be eligible to receive financial aid at any other institution during this break. Students who are approved to take an Extended Quarter Break Stop-Out are eligible to receive aid only for the Term courses of the quarter in which the student returns. Students in some programs, such as the Physical Therapist Assistant program, are not eligible for the Extended Quarter Break Stop-Out. Military Leave for Mandatory Training or Deployment Rasmussen University supports our students who are service members and veterans, their spouses, and other family members. A. Eligibility: Students or prospective students who have service requirements that make it difficult or impossible for them to be successful in their academic program are eligible for a military leave. For purposes of granting Military Leave, service requirement is defined as (a) deployment, (b) mobilization leading to deployment, or (c) mandatory training. B. Military Leave Procedures: • Students must contact their Advisor to request the Military Leave and provide a copy of their military orders for authentication. Students who have yet to receive orders need to provide a memo from their commanding officer supporting the request for the Military Leave. • The student cannot remain enrolled in the quarter/term that the leave begins. • If the student is currently enrolled for the quarter/term in which their requested leave is to begin, it is the responsibility of the student to request military leave and drop/withdraw from their classes. • Students receiving benefits under any of the GI Bills will have their enrollment certifications terminated for the initial term of the military leave and any subsequent terms for which leave is approved. Financial Aid and Tuition/Books/Fees Impact of a Military Leave: • Students are treated as a withdrawal from the University for financial aid purposes because students who take a leave of absence are generally not able to return to the same point in their academic studies upon return, as certain scheduling adjustment may be required. • If the student received federal financial aid funding for the term of withdrawal, a calculation of the amount of aid earned for the term of withdrawal will be performed along with a calculation of the student’s tuition obligation for the same period. As a result of these calculations, the student may have a tuition balance, have unearned federal aid funds that must be returned by the University or student, or have a tuition refund due. These calculations will be performed according to federal guidelines and institutional policy and the student will be notified of the outcome. • If a tuition refund is due to the student, it will be returned to the student. Refunds will be paid to the appropriate funding agency within 45 days, and the student will be billed for any remaining unpaid balance. See the University Refund Policy. • Students who return from a Military Leave will have their federal financial aid reinstated, but the funding package may be different from the term of withdrawal due to changes in student eligibility. ALL CONTENT IS SUBJECT TO CHANGE BY ADDENDUM
