Microsoft Word MU 2009-2010.doc - Methodist University

Refund List—The Business Office establishes refund lists to schedule student refunds. After the studenthas confirmed that they have a credit balance with the Business Office, they may request to be put on arefund list. The lists are started no earlier than three weeks after the start of classes, and continuethroughout the semester.Students will be given an identification number and the date when their refund will be available forpick-up once they are put on a refund list.Calculating the Refund—The Business Office requires approximately one week to issue a refund checkafter a student is put on a refund list. This allows time for analyzing and verifying all charges and credits,determining eligibility for loans and grants, calculating multiple refunds, and scheduling multiple checksfor disbursement.Check Pick-up—Refund checks are available for pick-up after 3:00 P.M. on the scheduled date. Pleasehave a valid student ID card, driver license, or a picture ID available for positive identification. Checks notpicked up within two weeks of issuance will be mailed.The following dates are the earliest dates available for refunds:The earliest scheduled pick-up dates for Fall 2009 are:September 10, 2009 — Day & Evening Term I StudentsNovember 12, 2009 — Evening Students/Term IIThe earliest scheduled pick-up dates for Spring 2010 are:February 4, 2010 — Day & Evening Term I StudentsApril 8, 2010 — Evening Students/Term IIThe earliest scheduled pick-up dates for Summer 2010 are:June 10, 2010 — Day Students/Term I and Evening StudentsJuly 8, 2010 — Day Students/Term IIAugust 5, 2010 — Day Students/Term IIIRefund Checks are available for scheduled students on Tuesdays and Thursdays after 3:00 P.M.Students that drop classes and fall below twelve semester hours will be subject to partial or full lossof their financial aid.REFUND/REPAYMENT POLICY ON WITHDRAWALS FROM THEUNIVERSITYEffective August 1, 2000, Methodist University adopted the provisions of the Higher EducationAmendments of 1998 for calculating the return of unearned Title IV funds. If a student withdraws from theUniversity and is receiving federal Title IV funds, a federal refund calculation is performed. Title IV fundsinclude Federal Stafford Loans, Federal Plus Loans, Federal Supplemental Educational Opportunity Grants,Federal Pell Grants and Federal Perkins Loans and other federal programs. If no Title IV funds areinvolved, then only the Institutional calculation is performed. The University will credit any refund amountdue to the student’s account if the student also owes a repayment or unpaid charges to the University. Thedate of withdrawal is considered as the formal date on the Withdrawal Form. Students may obtaininstructions for withdrawal from the Registrar’s Office. If the student fails to withdraw formally from theUniversity, then the date of withdrawal is considered to be the last documented date of attendance.Worksheets are used to calculate each student’s refund. Examples of these calculations are available in theFinancial Aid Office.236