Refund and Withdrawal Policy
Any student who must leave during the academic year should inform the Registrar in writing. The Request to Withdraw form is available on the WITS website. The official date of withdrawal is the date that the student indicates in her notice, or the date of notification, whichever is earlier.
Unofficial Withdrawal Policy
Over the course of the semester, an enrollment confirmation roster is completed by faculty to ascertain that the registered student has been in attendance for 60% of the semester.A student who is not in attendance at the 60% point is determined to have withdrawn.
Return to Title IV Policy (R2T4)
For all students who withdraw during the semester, the institution performs an R2T4 calculation utilizing the Return to Title IV software provided by the US Department of Education.
The withdrawal date used to calculate the Title IV refund will be determined as follows: for a student who gives official notification, the date of withdrawal is the date that the student indicates in her notice or the date of notification, whichever is earlier.
Generally, if a student officially withdraws before 60% of the semester has passed, the student will be able to retain a pro-rated portion of the awarded financial aid. If a student withdraws after 60% of the semester has passed, the student will be able to retain all of the awarded financial aid. The institution will perform Return to Title IV calculations for all students who withdraw, even for those who withdraw after the 60% point, to determine if they qualify for post-withdrawal disbursements.
If the R2T4 calculation results in a refund to Title IV programs, funds will be returned in the following order:
Unsubsidized Federal Direct Stafford Loans
Subsidized Federal Direct Stafford Loans
Federal Perkins Loans
Federal Direct PLUS received on behalf of the student
Any funds that need to be returned to a lender will be returned by the institution on behalf of the student.
If unearned funds remain to be returned after repayment of outstanding loan amounts, the remaining excess will be returned in the following order:
Federal Pell Grants
Federal Supplemental Educational Opportunity Grant (FSEOG)
Refunds and returns of Title IV funds will be made within 45 days of the date of determination that a student has withdrawn. The withdrawing student may be responsible to pay any institutional charges that were previously paid with FSA funds.