Return of Funds Policy

Federal financial aid recipients who withdraw from courses receive refunds according to the following schedules, which are calculated from the date the application for withdrawal is received by the advising office of the student's program. Nonattendance of classes does not constitute official withdrawal. Federal financial aid recipients withdrawing completely will have their Title IV aid returned to the proper aid accounts as determined by the Office of Student Financial Services pursuant to federal guidelines.

Withdrawal Policy

The University of Tulsa's refund policy refers to the amount owed by a student for various categories of University charges when a student withdraws, drops out, or is expelled within a given time frame within a term. The withdrawal policy may change without notice.

Students withdrawing during a term at The University of Tulsa will receive a refund based on the following calculations.

Undergraduate,
Graduate, and Law
Students Tuition,
Fees, Room and Board
Refund  
Up through 1st day of classes 100%
Day 2 through end of 1st week 90%  
Weeks 2 and 3 50%
Weeks 4 through 7 25%
Remainder of Semester 0%

Return of Title IV Funds

Students withdrawing from all classes during a semester will have their Title IV funds returned to the federal programs according to federal guidelines. TU will first determine the percentage of the semester the student completed. The percentage completed will be the number of days attended divided by the number of days in the semester. If the percentage completed is 60% or less, the return of funds calculation will be used.

If the student has completed 60% or less of the semester, TU will apply the calculated completed percentage to the total awarded Title IV aid for which the student established eligibility before withdrawing. This calculation will be the earned aid. The earned aid will be subtracted from the total disbursed aid to determine the amount of unearned aid to be returned to the federal Title IV funds. TU will return the unearned aid to the Title IV programs.

Title IV Return of Funds Distribution Policy

For all students receiving federal Title IV funds, returns are distributed back to the programs in the following order up to the full amount received from each program for the term.

Unsubsidized Federal Stafford Loan
Subsidized Federal Stafford Loan
Federal Perkins Loan
Federal Grad PLUS Loan
Federal Parent PLUS Loan
Federal Pell Grant
Federal Supplemental Educational Opportunity Grant (FSEOG)
TEACH

Sample return of funds calculations are available for review in the Office of Student Financial Serivces, Collins Hall.