Victory University 2012-2013 Academic Catalog

total Title IV funds used. For instance, if a student fails to sign a promissory note and her/his
Stafford loan has not yet been disbursed, the student may no longer be eligible for those funds.
Please remember, the institutional refund policy is different than the financial aid Return of
Title IV process. Please contact a Financial Aid Counselor prior to withdrawing from classes to
determine your financial impact and how it will affect your Satisfactory Academic Progress
and eligibility for Title IV aid.
REFUND POLICY FOR ADD/DROP OR TOTAL WITHDRAWAL FROM SCHOOL
In addition to the U. S. Department of Education's Return of Title IV policy, Victory implements
the following institutional policy regarding refund of qualifying institutional charges:
1. Using the date of official notification (i.e., in writing) of intent to drop or withdraw from
a course (e.g., Course Withdrawal Form) or withdraw from school (e.g., Complete
Withdrawal From School form), the Office of Student Financial Aid and Scholarships will
calculate the percentage of institutional charges the student owes the school for the
time attended as “days of the term completed by the student” divided by the “total
days in the term” (minus published breaks of five days or more).
2. Refunds for students who withdraw after tuition has been paid, but prior to registration
and during the first week of classes, will be refunded 100% of tuition. After the
beginning of classes, refunds will be calculated as follows for a five (5) week; eight (8)
week; and sixteen (16) week courses:
LENGTH OF
COURSE
TIMELINE
REFUND % OF
TUITION
5 week course 1-7 calendar days of term 100%
8-13 calendar days of term 50%
14 calendar days of term and beyond 0%
8 week course 1-7 calendar days of term 100%
8-14 calendar days of term 75%
15-21 calendar days of term 50%
22-28 calendar days of term 25%
29 calendar days and beyond 0%
16 week course 1-7 calendar days of term 100%
8-21 calendar days of term 75%
22-35 calendar days of term 50%
36-49 calendar days of term 25%
50 calendar days and beyond 0%
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