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

6) During the following 41% to 50% of Title IV, 50% of the tuition costs will be credited tothe student’s account.7) During the following 51% to 60% of Title IV, 40% of the tuition costs will be credited tothe student’s account.8) After the date in which the Institution has the right to earn 60% of the Title IV funds, theInstitution will claim 100% of the Title IV funds and the student will not receive a creditfor the concept of a refund to his/her account.Reimbursement to Title IV will occur during the 45 days after the date the institution determines thetermination or withdrawal of the student. Reimbursements to students will be processed during the 14 daysfollowing the date in which the student’s account reflects a balance-credit.Recess periods of five (5) days or more will not be included in the days earned for purposes of the refundpolicy.Refunds will be granted in the following order: Direct Loan, Pell, FSEOG, and the State Financial AidPrograms.If the student stops attending without providing official notice to the institution, then the withdrawal date isthe mid-point within the establish pay period of his/her program of study.FINANCIAL AID – PAYMENT METHOD AND FREQUENCYASSOCIATE DEGREE PROGRAMSFinancial aid assigned annually will be divided or disbursed in three annual payments; each paymentcorresponds to one term.The payment period will be equivalent to the academic term; the academic year will consist of aminimum of 30 weeks. One instructional week will be equivalent to any 7-day consecutive period inwhich at least one day of regular classes, exams or their reviews are offered.Credit of payments to student accounts will take effect in the following way:1. One payment for each term to be credited at the end of the late enrollment period or themaximum term authorized for the addition or elimination of courses.2. After the authorized period for adding or eliminating courses; partial withdrawals will not affectthe number of enrollment credits. The student’s account will not be affected by changes in thenumber of credits.3. After the period for adding or eliminating courses, a determination of whether the student is afull-time, ¾ parts or part-time student will be made.4. A student will be considered as having attended class if s/he attends at least one day of class foreach course in which s/he is enrolled.5. Students that do not attend any of their classes, refer to the Enrollment Cancellation Policy.- 47 -