Mount Vernon Nazarene University

Mount Vernon Nazarene University

Refund Policy for Students Withdrawing from the University

Withdrawal from the University may affect the student’s eligibility for future financial aid. Once a student has completed the withdrawal process the portion of student charges eligible to be refunded is based on a ratio of the number of days remaining in the term to the total number of days in the term. The withdrawal date is considered to be the earliest of [1] the last day of class attendance, [2] the last day of documented academically-related activity, or [3] the date the student began the withdrawal process. A pro-rated refund is made if the student has not attended class beyond the 60% point of the term. After that, no refund is made.

The refund policy applies to tuition. Course fees are only refundable through the first ten business days of the semester for fall and spring and through the third business day for the January term. Any course expenses already expended are not included in the refund. Housing deposits are forfeited and room refunds are pro-rated according to the date the student moves from campus housing up to the fourth week in the semester. After the fourth week, housing refunds are limited to the housing deposit. Meal plan charges are refunded on a pro-rated basis through the 60% point of the semester. After that, no refunds are available. Health insurance remains in effect through the end of the semester in which the withdrawal takes place.

Return of Title IV Funds

If a student receives financial aid funds from any aid program and subsequently withdraws from the University before 60% of the term has elapsed, then a percentage of those funds must be returned to the appropriate federal, state, and/or institutional program(s). The portion returned is a ratio of the number of days remaining in the term to the total number of days in the term. The student who remains enrolled and attends class through the 60% point in the term is eligible to retain 100% of federal grant and loan funds. The return of state and university funds follows a similar schedule.