REFUNDS

Credit Balance Refunds
Refunds of credit balances will be made upon student request only, and after all funds have been received and posted to the account. 

Requests for refunds are due by 5:00 pm on Tuesdays for a check to be issued on Fridays.  Refund checks will be made in the student's name and can be picked up after 10:00 am on Fridays or mailed upon request.

Keep in mind that if you contract with Academic Management Services (AMS) and you have a credit balance on your account, you are not eligible for a refund until the AMS contract is complete.  (Please see the section on AMS for further information.)

Please note that Albion College is not a bank and students will not be allowed to make periodic "withdrawals" against credit balances throughout the semester.  When the refund is requested the total amount of the credit balance will be refunded.

General Deposit Refunds

Graduates:  A student who completes his/her degree will receive a refund of their general deposit less any remaining College charges.  (e.g. room damage, loss of keys, etc.)

Transferring/Withdrawing Students:  General deposit refunds are made in full (less deductions for unpaid College charges) after the end of a semester provided written notice of intent to withdraw is filed with the Vice President for Student Affairs by the following deadline dates:

October 15 - for withdrawal at the end of the first semester
March 15 -   for withdrawal at the end of the second semester

A 50% refund of the general deposit will be made when written notice of intent to withdraw is provided to the Vice President of Student Affairs by the following dates:

December 1 - for withdrawal at the end of the first semester
August 1 - for withdrawal during the summer

A form to indicate one's intent to withdraw is available at the Vice President for Student Affairs' Office in the Administration Building.  Completion of this form will constitute notification that the student intends to withdraw from the College at the end of the current semester.  Should there be a change in the student's plans, it will be necessary for the student to submit an application for readmission.

Refunds to Students Transferring/Withdrawing

A refund of tuition and fees to students not remaining a full semester means a direct loss to the College.  Appeals by those students who feel that individual circumstances warrant exceptions from the established policies should be made in writing to the Vice President for Student Affairs.  Both voluntary and involuntary withdrawals are subject to the refunding policies and a $ 100.00 withdrawal processing fee.

It should be noted that students who complete their enrollment under the provision of a deferred payment agreement are bound to fulfill the terms of said agreement even though they may withdraw from the College prior to the close of a semester.

The refund policy is described below:

If a student withdraws or is expelled from Albion College, then the student may be eligible for a refund of a portion of the tuition, fees, room and board paid to Albion College for that semester.  If the student received financial assistance from outside of the family, then a portion of the refund will be returned to the grant, scholarship or loan source from which that assistance was received.

If a student will be withdrawing, then the student should visit the Dean of Student Affairs and complete a form entitled "Student Withdrawal Form" to begin the withdrawal process.  This procedure will enable Albion College to refund the maximum possible institutional charges.

Two formulas exist for determining the amount of the refund:  Albion's Refund Policy and the federal "Return of Title IV Aid" formula derived from the 10/7/98 Reauthorization of the Higher Education Act.  The federal formula is applicable to any student receiving federal aid other than Federal Work Study if that student withdraws on or before the 60% point  in the semester.  These students may also receive a refund of non-federal sources through Albion's refund policy.  Students not receiving federal aid will have their refund calculated using only Albion's refund policy.

Albion's Refund Policy is as follows:  Students who withdraw from Albion College will receive a pro-rated refund of educational fees and board fees, according to the following schedule:

The federal formula provides a return of Title IV aid if the student received federal financial assistance in the form of a Pell Grant, Supplemental Educational Opportunity Grant, Perkins Loan, Federal Family Educational Loan Program, or PLUS loan and withdrew on or before completing 60% of the semester.  The percentage of the return is equal to the number of calendar days remaining in the semester divided by the number of calendar days in the semester.  Scheduled vacation periods of more than four days are excluded.

If any refund remains after the return of Title IV aid, the refund will be used to repay Albion College funds, state funds, other private sources, and the student in proportion to the amount received from each non-federal source if there was no unpaid balance due at the time of withdrawal.  If there was an unpaid balance, then all aid sources will be repaid before any fund is paid to the student.

If funds were released to a student because of a credit balance on the student's account, then the student may be required to repay some of the federal grants or loans released to the student.

Worksheets used to determine the amount of refund or Return of Title IV aid are available upon request from the Financial Aid Office.

If you have any questions, please email the Accounting Office

   Thomas Pitt