Pursuant to federal and state regulations, Central Penn College has developed, and applies on a consistent basis, the following policy: when a student completely withdraws from the College or drops a course, tuition will be calculated in accordance with the following guidelines, and any refund is made within 30 days. The last day of class attendance will be considered the withdrawal or drop date. A student’s withdrawal or drop date will be the last date of class attendance. If the last date of attendance cannot be determined, the institution shall use the date the College had knowledge of the student’s withdrawal.
Please note that any reduction applies only to tuition. Fees are nonrefundable. Rent charges, fees, and any other charges are not refundable if a student leaves the College any time during the term.
During 1st week During 2nd week After 2nd week
75% 55% 0%
The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, or are dismissed prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.
If a student leaves the institution prior to completing 60% of a payment period or term, the Financial Aid Office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula:
- Percentage of payment period or term completed equals the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid. Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:
- Aid to be returned equals 100% of the aid that could be disbursed minus the percentage of earned aid multiplied by the total amount of aid that could have been disbursed during the payment period or term. If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a balance to the institution.
If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 120 days of the student’s withdrawal. The institution must return the amount of Title IV funds for which it is responsible no later than 30 days after the date of the determination of the date of the student’s withdrawal. Refunds are allocated in the following order:
- Unsubsidized Direct Stafford Loans
- Subsidized Direct Stafford Loans
- Direct PLUS Loans
- Federal Pell Grants for which a return of funds is required
- Federal Supplemental Opportunity Grants for which a return of funds is required
- Other assistance under this Title for which a return of funds is required (e.g., LEAP)
If a student does not register or return for a new term, or fails Capstone/Internship, the student may be withdrawn. Note: All information presented regarding financial aid eligibility and program availability reflects current regulations and policies. This information is subject to change.