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Credit Balance/Withdrawal Polices - Traditional

Credit Balance Refunds
Credits that are the result of overpayments or excess financial aid will be refunded to the student by eRefund.  Credits that are the result of a Parent Plus loan will be refunded to the parent, or as directed on a Refund Request Form.  Refunds are not available for processing until the drop/add period ends for each semester.   A Refund Request Form must be completed in order for a refund to be issued.

A Statement of Authorization and Certification must be on file before a refund check will be issued.

Withdrawal Refund Policy
Registration in the University is considered a contract binding the student and/or his/her parents for charges for the entire semester.   The university makes a number of financial commitments based on enrollment. Many of these commitments do not change even if students subsequently withdraw. However, in order to accommodate those exceptional situations, which require withdrawal, the university will allow adjustments to students who follow the official procedures for withdrawing from the university.

A student who officially withdraws from the University may receive a full or partial refund (credit) based on the date of the withdrawal date. The withdrawal date is the date that the Registrar’s Office records the withdrawal. Regardless of any adjustments to your charges, the student’s financial aid may be adjusted based on the percentage of the semester completed before withdrawing. In some cases, Federal Return of the Title IV Funds regulations may require that aid be returned to the federal government for a student who completely withdraws from Averett University before 60% of a term has been completed. Financial aid is awarded for the entire term, which is generally a 15-week period. If a student does not complete the entire 15 weeks, the Return of the Title IV Funds rules will determine how much financial aid has been earned. The student can keep that amount for the term, but the unearned part must be immediately returned to the federal government. In some situations, this will leave the student with a balance due to the university. Funds are returned to the federal government in the following order: Unsubsidized Direct Loan, Subsidized Direct Loan, Perkins, Grad PLUS Direct Loans, PLUS Direct Loans, PELL and SEOG. Click here for more information.

Withdrawal procedures: Non-attendance of class does not constitute withdrawal. Any student who withdraws from the university, regardless of the reason, must see the Dean of Student Success and complete the withdrawal process. Failure to officially withdraw will result in academic penalties. Upon withdrawal from the university the student's identification card must be surrendered.

Tuition Adjustments: Adjustments are computed on total charges for tuition and fees. The official withdrawal date assigned by the Dean of Student Success will be used in calculating all refunds.

Regular Semester Withdrawal Policy for Tuition

If Student Withdraws Adjustments % Fall Semester Spring Semester
On or before the first day of classes 100% 08/20/14 01/14/15
On or before 75% 08/29/14 01/23/15
On or before 50% 09/05/14 01/30/15
On or before 25% 09/12/14 02/06/15
On or before 25% 09/19/14 02/13/15
  0% 09/20/14 02/14/15
Last day to withdraw with a "W" is 9/19/14 & 2/13/15

If changes are made and the student still is taking at least 12 hours, there will be no adjustment in the full-time tuition rate.

Summer   - Month Term  
If Student Withdraws Percentage of Refund
First day of classes 100%
Remainder of first week 75%
Second week 0%
Third and Fourth weeks 0%

Room/Board and Fees
There is no refund of room, board and lab fees after the official end of the drop/add period. An exception is made for lab fees assessed in the aviation program. Ground School Lab Fees: Same schedule as tuition.

Flight Courses:   Fees are prorated based on time incurred; however, there is a penalty of 10 percent of the unused fee assessed for those who withdraw after the last day to add a class.

Medical Withdrawal
If a student withdraws due to a medical reason, the withdrawal must be approved by the Dean of Student Success with appropriate documentation and then adjustments will be processed for tuition and room on pro-rated bases up to the 60% point of the semester.

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