cata espa revision 06252010 [todo] - Instituto de Banca y Comercio

j. During weeks seventeen and nineteen, they will receive a 40% refund.k. After the twentieth week and up to the end of the course, they will not be eligible for a refund orcredit to their account.REFUND POLICY FOR ASSOCIATE DEGREE PROGRAMSInstituto de Banca y Comercio manages a refund policy in accordance with the dispositions of the refundpolicy and the regulations of the Federal Department of Education. The Refund Policy regulates the wayin which total tuition costs will be adjusted in the student’s enrollment agreement (Contract), if thestudent decides to withdraw. The policy establishes that when a student participates in Title IV funds andwithdraws from an institution during the payment period during which s/he attended, the institution mustdetermine the amount of Title IV funds the student has earned up to the date s/he withdrew from theprogram. If the amount of Title IV earned is less than the disbursed amount, the difference between eachamount will be reimbursed to the Federal Department of Education. The Financial Aid Office willdetermine the corresponding amount of grant or the necessary adjustment. Title IV funds included in thecalculation are: Direct Loan (subsidized and non-subsidized), Pell Grant, SEOG and State EducationGrant.A student’s withdrawal date is the date in which the student begins the withdrawal process, according towhat is established by the Institution; or when a student notifies, verbally or in writing, his/her intentionto stop attending class. If the student ceases to attend class without providing the oficial notification to theInstitution, then the withdrawal date is the mid-point within the established payment period in his/herprogram of study.Students who withdraw from Associate Degree Programs:a. The seat reservation fee is non-refundable. The tuition cost is refundable if the student processesan official withdrawal.b. If the student totally cancels an enrollment before or within the late enrollment period, a $100.00fee will apply.c. The Tuition Refund policy is directly related to the Refund of Title IV funds Policy, stipulatingthat:1) The percentage of the cost of the term earned by the Institution will be calculated fromthe percentage of Title IV earned on the student’s withdrawal date and the difference willbe credited to the student’s account.2) If the student processes a withdrawl during the period in which the Institution earns 1%to 10% of the Title IV funds, 90% of the tuition costs will be credited to the student’saccount.3) During the following 11% to 20% of Title IV, 80% of the tuition costs will be credited tothe student’s account.4) During the following 21% to 30% of Title IV, 70% of the tuition costs will be credited tothe student’s account.5) During the following 31% to 40% of Title IV, 60% of the tuition costs will be credited tothe student’s account.- 46 -