The Financial Aid office calculates federal financial aid eligibility for students who withdraw, drop out, or are dismissed prior to completion of 60% of the term: • The calculation for credit-hour programs is based on the percentage of aid earned using the following formula: Percentage earned is equal to the number of days completed up to the withdrawal date divided by the total days in the term. • The calculation for clock hour program (if applicable) is based on the percentage of aid earned using the following formula: Aid to be returned is equal to 100% minus the percent- age earned, times the amount of aid disbursed to institutional charges. When less aid was disbursed than was earned, the student may receive a late disbursement for the difference. If more aid was disbursed than was earned, the amount of Title IV aid that must be returned is determined by subtracting the earned amount from the amount actually disbursed. Sumner College will distribute the unearned aid back to the Title IV federal programs as specified by the Higher Education Act. The order of Return of Funds by the School are as follows if needed: • Unsubsidized Direct Stafford Loan • Subsidized Direct Stafford Loan • Direct PLUS (Parent) Loan • Pell Grant • FSEOG The student is responsible for paying the amount owed to the Title IV programs, and any amount due to Sumner College. The student must immediately contact the business office to make payment arrangements. A student’s withdrawal date is defined as the actual date the student initiated the institution’s withdrawal process, or the last date of recorded student attendance. Students who miss more than 10 consecutive school days are automatically with- drawn from the program. Please see the Financial Aid office for additional information or questions regard the State of Oregon Cancellation and Refund Policy or the Federal Return of Funds Policy. The Title IV return of funds calculations has no relationship to the Sumner refund policy. Students desiring a copy of the refund calculations should contact the financial aid office. Post-Withdrawal Disbursements Occasionally a student who withdraws from Sumner College is entitled to a post-withdrawal disbursement. A post- withdrawal disbursement occurs when the R2T4 calculation determines that a student is entitled to financial aid even though the student has completely withdrawn or stopped attending. If a student withdraws and is entitled to a post- withdrawal disbursement of a student loan or a parent is entitled to a post-withdrawal disbursement of a Parent Loan for Undergraduate Students (PLUS), a disbursement letter is emailed to the student/ parent informing them of their eligibility for the loan funds. It is your right/responsibility as a student/parent to notify Sumner College within two weeks of the date of the letter if
State of Washington Cancellation Policy 1) The school must refund all money paid if the applicant is not accepted. This includes instances where a starting class is canceled by the school. 2) The school must refund all money paid if the applicant cancels within five business days (excluding Sundays and holidays) after the day the contract is signed or an initial payment is made, as long as the applicant has not begun training. 3) The school may retain an established registration fee equal to ten percent of the total tuition cost or one hundred dollars, whichever is less, if the applicant cancels after the fifth business day after signing the contract or making an initial payment. A “registration fee” is any fee charged by a school to process student applications and establish a student record system. 4) If training is terminated after the student enters classes, the school may retain the registration fee established under (3) of this subsection, plus a percentage of the total tuition as described in the following table: If the student completes this amount of training: The school may keep this amount of the tuition cost:
One week or up to 10% whichever is less
10%
More than one or 10% whichever is less but less than 25%
25%
25% through 49%
50%
More than 50% 100% 5) When calculating refunds, the official date of a student’s termination is the last day of recorded attendance: (a) When the school receives notice of the student’s intention to discontinue the training program; or, (b) When the student is terminated for a violation of a published school policy which provides for termination; or, (c) When a student, without notice, fails to attend classes for thirty calendar days. 6) All refunds must be paid within 30 calendar days of the student’s official termination date. Federal Return of Funds Policy Sumner College is required to determine the earned and unearned portions of Title IV aid (Federal Financial Aid) within 45 days of the date in which Financial Aid is notified, a student ceases to attend all of his/her classes or if a student misses more than 10 consecutive school days is automatically withdrawn from the program. Sumner will apply the provisions of the 1998 HEA in regard to return of unearned funds. Earned and unearned aid is based on the amount of time a student spent in attendance. Up through the 60 percent point in each term a pro-rata schedule is used to determine the amount of Federal Financial Aid a student has earned at the time of withdrawal. After the 60 percent point in the term a student has earned 100 percent of their Federal Financial Aid.
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