148 rasmussen.edu | 888-5-RASMUSSEN ACADEMIC INFORMATION AND UNIVERSITY POLICIES student is rejected, all tuition, fees and other charges will be refunded. A student in any term who withdraws from the University must give written notice to the University. Date of withdrawal is the last day of recorded attendance. • The University will acknowledge in writing any notice of cancellation within 10 business days after the receipt of the request and will refund the amount due within 30 business days. Written notice of cancellation shall take place on the date the letter of cancellation is postmarked, if the notice is received via electronic mail (email) the date the email is received by the University, or if the notice is hand carried it shall occur on the date the notice is delivered to the University. The University may use the last day of recorded attendance to determine the date of withdrawal for refund purposes. • Notwithstanding anything to the contrary, if a student gives written notice of cancellation following written acceptance by the University and prior to the start of the period of instruction for which they have been charged (“Period of Instruction”), all tuition and fees paid will be refunded. All prepaid tuition is refundable. • If a student has been accepted by the University and gives written notice of cancellation or termination after the start of the Period of Instruction for which they have been charged but before completion of 60% of the Period of Instruction, the amount charged for tuition and awarded for institutional scholarships/grants for the completed portion of the Period of Instruction shall be prorated based on total tuition charges and institutional scholarships/grants awarded and the portion of the Period of Instruction completed. After the completion of 60% of the Period of Instruction, no refund of tuition or of institutional scholarships and grants will be made. • Eligible refunds are made within 30 days of the date of determination of withdrawal for students in Florida, Wisconsin or Missouri. • Eligible refunds are made within 30 business days of the date of determination of withdrawal for students in Minnesota. • Eligible refunds are made within 45 days of the date of determination of withdrawal for students in Illinois, North Dakota, Kansas, or California. • The refund policy is not linked to compliance with the University’s regulations or rules of conduct. Federal Return of Title IV Funds Policy A student may initiate the withdrawal process by phone; via email, in person, or in writing; or by rejecting their schedule and indicating in notes their desire to withdraw. Once the withdrawal has been processed, a written notification will be sent. Rasmussen University uses the state mandated refund policy to determine the number of institutional charges it can retain. The federal formula dictates the Federal Title IV aid that must be returned to the federal government by the school and the student. The federal formula requires a Return of Title IV aid if the student received federal financial assistance in the form of a Federal Pell Grant, Federal SEOG, Federal Direct Student Loan, or Federal PLUS Loan and completed all coursework and/or withdrew from all courses before completing 60% of the payment period or period of enrollment. The percentage of Title IV aid to be returned is determined by dividing the number of calendar days attended (based on last day of attendance) by the number of total calendar days in the payment period or period of enrollment. Scheduled breaks of five or more consecutive days are excluded. If funds are released to a student because of a credit balance on the student’s account, the student may be required to repay some of the federal grants if they withdrew. The federal return of Title IV funds formula calls for a second calculation, similar to the one outlined above, where the school determines the percentage and amount of tuition which was unearned. The school compares the unearned tuition with the unearned Title IV aid, and returns the lesser of these two amounts. The amount of assistance that you have earned is determined on a pro rata basis. For example, if you completed 30% of your payment period or period of enrollment, you earn 30% of the assistance that you were originally scheduled to receive. Once you have completed more than 60% of the payment period or period of enrollment, you earn all the assistance that you were scheduled to receive for that period. Return of Title IV withdrawal exemption for programs with modules: In a program offered in modules (referred to as terms at Rasmussen), a student is not considered to have withdrawn for Return of Title IV purposes if the student successfully completes (earns a passing grade) coursework equal to or greater than the University’s definition of a half-time student for the payment period. Return of Title IV withdrawal exemption for all programs (with or without modules): A student who completes all the requirements for graduation from their program before completing the days in the period that they were scheduled to complete is not considered to have withdrawn for Return of Title IV purposes. A student withdrawing from school may be eligible for post-withdrawal disbursements according to federal regulations. A post-withdrawal disbursement occurs when a student who withdraws earned more aid than had been disbursed prior to the withdrawal. A post-withdrawal disbursement notification is made to the withdrawn student in writing via electronic mail sent to the personal email address on file with the University within 30 days of the school’s determination that the student withdrew. The notification explains the type and amount of grant fund(s) available and explains to the student the option to accept or decline all or part of the monies. Post withdrawal disbursements are made first from available grant funds and must be done within 45 days of the school’s determination that the student withdrew. Rasmussen University credits the student’s account for any outstanding current period charges with grant funds. Loan post-withdrawal disbursements must be done within 180 days of the school’s determination that the student withdrew. A post-withdrawal disbursement offer is made to the withdrawn student in writing via electronic mail sent to the personal email address on file with the University within 30 days of the school’s determination that the student withdrew. The notification explains the type and amount of loan fund(s) available and explains to the student the option to accept or decline all or part of the monies. A 14-day response time is given to the student for their decision. For any post-withdrawal disbursement of loan funds, the University must get the student’s permission before crediting the post-withdrawal loan funds to their student account. It may be in the student’s best interest to allow the school to keep the funds to reduce debt with the University. If no response is received within 14 days, the remaining post- withdrawal disbursement is cancelled. Rasmussen University uses its Student Information System to calculate the federal return of Title IV and Institutional refund calculations based on the U.S. Department of Education regulatory requirements. The requirements for the return of Title IV program funds are different from the tuition refund policy and students who withdraw may owe unpaid institutional charges. 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. ALL CONTENT IS SUBJECT TO CHANGE BY ADDENDUM
