Return of Funds Policy
Students 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.
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 |
Legal Assistant,
Legal Nursing Students Tuition, Fees, Room and Board |
Refund |
|
Up through 1st day
of classes |
100 % |
Up through 1st day
of classes |
100% |
|
Day 2 through end of
1st week |
90% |
Day 2 through 31
clock hours |
90% |
|
Weeks 2 and 3 |
50% |
32 through 77 clock
hours |
50% |
|
Weeks 4 through 7 |
25% |
78 through 154 clock
hours |
25% |
|
Remainder of
Semester |
0% |
More than 154 clock
hours |
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.
The University of Tulsa will first determine the percentage of the
semester the student completed. If this 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, The University of Tulsa 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. The University of Tulsa 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 ACG Grant
Federal SMART Grant
Federal SEOG
Sample return of
funds calculations are available for review in the Office of Student
Financial Services.
