Refund Policy
Keuka College’s refund policy for a student who withdraws, drops out, takes an approved leave of absence, or otherwise fails to complete the program on or after the student’s first day of class of the enrollment period for which the student was charged, is dictated by federal rules and regulations. The withdrawal process is initiated by the student by completing appropriate forms available from the Dean of Student Engagement and Success, located in the Center for Experiential Learning.. A withdrawal is considered effective on the date specified by the student or the date the student notifies the Associate Vice President for Academic Affairs, whichever is later. In the case of an approved leave of absence, or in the case of a student who fails to follow proper procedure in notifying the College, the withdrawal is considered effective the last recorded date of attendance, as determined by the registrar.
An orderly withdrawal is essential for the College to provide any refund due to a student as described below. A student is liable for any amounts still owed the College upon withdrawal, and should settle the account before leaving campus. Failure to properly close the account before leaving the College may delay any request for academic credentials.
Refund Calculation
A statutory schedule is used to determine the amount of Title IV funds a student has earned as of the date he or she ceases attendance. The amount of Title IV assistance earned is based on the amount of time the student spent in academic attendance. Up through the 60 percent point in each payment period or period of enrollment, a pro rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60 percent point in the payment period or period of enrollment, a student has earned 100 percent of the Title IV funds.
Order of Return of Title IV Funds
In accordance with regulations, a school must return Title IV funds to the programs from which a student received aid during the payment period or period of enrollment as applicable, in the following order; up to the net amount disbursed from each source:
- Direct Unsubsidized Loan
- Direct Subsidized Loan
- Federal Perkins Loan
- Direct PLUS Loan
- Federal Pell Grant
- Federal Supplemental Education Opportunity Grant (FSEOG)
- Federal TEACH Grant
- Other assistance under this Title for which a return of funds is required
- Other federal, state, private, or institutional sources of aid
- The student