Pine Manor College has undertaken long-term commitments for the benefit of all its students on the assumption that students who enroll will remain for the entire year. When a student withdraws before the end of the year for whatever reason, commitments made by the College on the students behalf nevertheless remain and must be paid. Pine Manor College’s policy for refunds represents an attempt to be fair to the withdrawing student in light of the obligations the College has undertaken on the students behalf.
Pine Manor College’s policy regarding refunds is as follows:
1. Tuition, room and board refunds may be granted only for official withdrawal from the College following the receipt by the Registrar of the required completed and signed form. Absence from classes does not constitute withdrawal. Generally, refunds for semester-length courses are granted as follows:
- Students withdrawing at the College’s request for academic or disciplinary reasons may, at the discretion of the Financial Review Board, receive a prorated refund or credit for tuition and residence fee based on the number of full weeks remaining in the semester, after the week of the withdrawal.
- No refund is granted when a student withdraws from individual courses.
- All students who receive federal student aid funds and withdraw are subject to U.S. Department of Education’s regulations for the Return of Title IV funds. The Return of Title IV Funds policy is separate from the college’s refund policy.
- For purposes of determining the refund of federal student aid funds, any student who withdraws for any reason during the first 60 percent of the term will be subject to a pro rata schedule that will be used to determine the amount of Title IV funds a student has earned at the time of withdrawal. A student who withdraws after the 60 percent point has earned 100 percent of the Title IV funds. The amount of financial aid a student may retain and the amount the student is charged for tuition, fees, room and board are not directly related.
If you withdraw before the start of the first week of classes you will not by charged tuition or room and board. After the first week of classes the following charges will apply:
- If you withdrawing during the 1st week of classes, you will be charged 20% of tuition and room + board
- If you withdrawing during the 2nd week of classes, you will be charged 40% of tuition and room + board
- If you withdrawing during the 3rd week of classes, you will be charged 60% of tuition and room + board
- If you withdrawing during the 4th week of classes, you will be charged 80% of tuition and room + board
- During and after the 5th week you will be charged 100% of tuition and room+board
2. Residence, health, and student activity fees are not refundable. The Director of Finance will make the final decision on any refund.
RETURN OF TITLE IV FUNDS
Students earn Title IV federal financial aid by attending and participating in classes. The amount of Title IV aid a student has earned for the enrollment period is based on the percentage of time the student remains enrolled for that period. It is important to note, the Return of Title IV Aid Policy is separate from the College’s withdrawal refund policy. The Return of Title IV Aid Policy applies to students who have received – or who are eligible to have received – federal Title IV student aid for the semester in which they withdrew. Title IV funds are awarded to students with the assumption that they will attend school for the entire enrollment/payment period.
The earned percentage is calculated by dividing the numbers of days within the enrollment period by the number of days attended. Once a student earns 60%, the student is considered to have earned 100% of Title IV federal aid and no adjustments are required.
The College must return any unearned federal title IV student aid funds within 45 days of notification and this may result in the student owing a balance. Title IV funds are returned in the following order:
- Unsubsidized Federal Direct Loan
- Subsidized Federal Direct Loan
- Federal Perkins Loan
- Federal PLUS Loan/Federal Graduate PLUS Loan
- Federal Pell Grant
- Federal SEOG
If there is a portion of unearned aid that the student is responsible for returning (based on the calculation) it is the student’s responsibility to make payment arrangements within 45 days of notification. Failure to return funds as required can result in the loss of eligibility for future federal financial aid.
In some cases, a student may be eligible to receive a “post-withdrawal” disbursement after the student completely withdraws from school and when the amount of aid earned is less than the amount of aid disbursed. In such cases, students are notified (either by email or mail) of their “post-withdrawal” disbursement eligibility and are requested to reply within 14 days indicating whether or not they wish to receive the aid and if so, the amount.
The Return of Title IV Aid Policy is based on the official withdrawal date as determined by the Registrar’s Office. The Financial Aid Office is notified by e-mail when a student provides official notice to the Registrar’s Office that they are withdrawing from Pine Manor College. The notification date contained in the e-mail is the date used for “date of the institution’s determination that the student withdrew.” Students are encouraged to official withdrawn from the college.
An unofficial withdrawal occurs when a student enrolls in courses and either never attends any courses or stops attending all courses at some point during the semester without providing official notification to the College. Students receiving Title IV federal aid who unofficially withdraw will have their aid recalculated in the same manner as an official withdrawal. For a student who unofficially withdraws, the College determines the last date of attendance based on the student’s last date of an academically related activity.
A student may also take a leave of absence from the College for a maximum of two consecutive semesters by completing a leave of absence form available in the Registrar’s Office. All leaves of absence must be approved in advance of the semester of leave by the appropriate College offices (Student Life, Bursar, Financial Aid, International office and the Registrar’s office). Students receiving financial aid through Pine Manor College must consult the Financial Aid Office. International students must consult the International Student Advisor or Dean of Student Life about visa status and eligibility for their I-20 during a leave of absence.
Lastly, all students who have a break in attendance are required to complete Student Loan Exit Counseling within 30 days of withdrawal. In addition to notifying students of potential eligibility, letters are mailed to all students and parents (Plus only) any time aid is returned as a result of the Return of Title IV Aid Policy’s calculation. The letters are mailed to the students’ permanent address.