University Refund Policy

Students who withdraw or take a Leave of Absence, fail to return from an approved Leave of Absence, are dismissed, or otherwise fail to complete the term for which they were charged will receive a refund of University charges based on a pro rata calculation. If students withdraw during the first 60% of a term, University charges are prorated based on the percentage of the term that has elapsed. If a withdrawal takes place after the 60% point, full University charges remain due. The refund is determined by students' effective dates of separation.


In accordance with US Federal Title IV Regulations, the same pro rata schedule is used to determine the amount of Title IV funds students have earned at the time of withdrawal.

Refunds made on behalf of financial aid recipients are distributed in the following order:

  • Unsubsidized Federal Stafford Loan
  • Federal Grad PLUS
  • Private or institutional sources of aid
  • The student

Students who take a Leave of Absence during a term may appeal for an exception to the refund policy by writing a letter to the Office of Financial Aid requesting consideration for a William M. McCord scholarship. A McCord scholarship is a partial tuition scholarship awarded to students who take a Leave of Absence from a term due to compelling personal reasons, and when they return to resume their studies suffer undue financial hardships which affect their ability to pay for their education. These awards are grants-in-aid and do not have to be repaid. The scholarship is used to help defray all or part of the penalty paid as a result of the withdrawal. The scholarship committee will review the details of the student's unusual and compelling reasons noted in their appeal and may require further documentation before determining eligibility for the scholarship.