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Refund and Distribution Policy

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. 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,
except for non-consumable course material fees. Those fees are refundable in certain
circumstances—see the “Fees” section on p.36. Rent charges, fees, and any other
charges are not refundable if a student leaves the College any time during the term.

Withdrawal Date Tuition Reduction
During 1st week 75%
During 2nd week 55%
After 2nd week 0%

The Financial Aid Office is required by federal statute to recalculate federal financial aid
eligibility for students who withdraw, stop attending 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)
Note: All information presented regarding financial aid eligibility and program availability
reflects current regulations and policies. This information is subject to change.

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