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.

Averett University refunds student account credit balances in accordance with the following guidelines:

  • Students who have a credit balance on their billing account may be eligible for a refund. The University does not automatically issue refunds unless required under Title IV (federal aid exceeds allowable billing charges), or the student graduates or withdrawals from the University. If a student does not request a refund, the credit balance will remain on the student’s account to offset future charges. An Authorization to retain funds must be on file to hold funds for the award period.
  • To request a refund, students must complete a refund request form. Forms are available online or at Averett Central. If there is a Parent Plus Loan on the account the parent’s signature is also required on the Refund Request form.
  • Refunds are normally processed within one to two weeks from the submission of the request form.
  • Credit balances that are the result of Title IV funds will be processed within the 14 days after the date the balance occurred on the student’s account.
  • The quickest way for a student to receive their funds is to set up an eRefunds profile through the student PC Self-service account. Students can enroll online to receive their refunds directly deposited into their bank checking or savings account.
  • Students without an eRefunds profile will have a check mailed to them at their home address unless they request otherwise on their refund request form.
  • Actual refunds received may be less than the amount requested due to additional charges or changes in the student’s financial aid package from the time the refund request is submitted until processed. There is no need to send another request.

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. 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.

If Student Withdraws Adjustments % Fall Semester Spring Semester
On or before the first day of classes 100% 08/23/17 01/10/18
On or before 75% 09/01/17 01/19/18
On or before 50% 09/08/17 01/26/18
On or before 25% 09/15/17 02/02/18
On or before 25% 09/22/17 02/09/18
0% 09/23/17 02/10/18
Last day to withdraw with a “W” is 9/20/17 & 2/07/18

Last day to withdraw with a “W” is 9/14/16 & 2/18/17

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.