FINANCIAL INFORMATION
FINANCE CHARGES A finance charge ofl.5% per monrh of the first $1,0(XJ of unpaid balance and 1% per month of unpaid balance over $1,000 is added al each billing to cany the account. Trnn sc~pts (official and unollicial) are withheld if a student ha., an outstanding obligation to the University or is in default on any government ba.~d loans. All payments to a student's account after enrollment should be a{(cln-ssed as follows: Accounting Department Biola University 13800 BiolaAwnue La Mirada, C:A 90/i:19-{J(J(Jl In addition, to insure timely processing, the st.uclent name and ID number m1Lsl be clearly noted on all payments. A student is not registered and cannot attend classes until satisfactmy financial air.iJ1gements have been made with tl1e Student Accounting Ollice. REFUNDS - WITHDRAWAL Inasmuch a, faculty engagemenls and other commitments are made by tlte Unive1~iry for the entire year in aclv,mce, tl1e following refund sdtedule ha., been t'stabli.,hecl in onler that the Unive1~iry and the studen t may share the loss equilahly when it is necessa,y for a student to wi1hclraw fmm sd,ool: Fall and Spring Semester Refund Policy Withdrawal within the lit,t two week.s of classes: 1. Tuition - full a1nount, less enrollment cleposil (s tu dents willt six or fewer units, $2:i; auclito1,, $20). 2. Room - end of the month in wltidt the stuclenl olli cially checks 0111 of the rt'.,iclence hall. Witltclrawal alier the second week and bdi,re the e1a! of the eighdt week of da.,ses (excepl for sperial progr.utL,) : 1. Tuition - pro-r.1tecl a., of encl of week in which sin
rec111e.,t for registration change or withdrawal was made. Refuncl, ai·e subject to the following schedule: ■ First week - complete refund, except $25 regi.,tralion fee . ■ 111 a two week comse - no refund the second week. ■ In a tltree or four week da,s, 30% refunded dur ing tl1e second week, none Utereafter. ■ In five week classes, 58% the second week, 30% tlte third week, none thereafter. ■ CJa.s.~s that do not fall within the regular se.s.,ion dare., will still follow the refund schedule under the first session. All an-.inged courses follow tlte refund schedule of tlte first se.,sion. No com,e may be dropped alier its ending date, and no tuition will be rdimclecl if a student unollicially witltdraws after the final day to ollicially drop a cla.s., ha, passed. CJa,s kes are not rdimclable alier tlte second day of the session. Tuition rdimcl, for cla.s., dtangt"s (where applicable) will Ix: made in the same manner a., rehtnds for wirhdrnwal, (i.e., foll refund within first two week., of da,ses and pro-rated rehmcl alier second week until end of eighth week). All refunds must be rec111ested by properly completing and suhmittin1,; a departure card or cla.,s drop form, the ofli cial withdrawal dat e determin ing the amount of refund . Class, laho1-.ilnty, health , insmance, parking , activity and otl1er lees are refundable only if withclr-..wal i., on or before the final dare oflale re1,;istr.11ion. Music lees are for p1iv.11e music lessons and are refund able in the same manner as tuition, except no refund after the sixrlt week. OUTSTANDING BALANCES A, Biola i., an educational inslitulion, ai1y balance owing on a student's accounl i., an extension of credit by Ute Univer sity and i., COJlsiclerecl an educational loan within the meai1ing of set:tion 52:1 (a) (H) of the U.S. Bankrnptc.y Gode. If a loan beconlt'.s in defaull, Biola may disclose Ute default, along witlt other relevant infonnalion, In credit bureau organizations and tum the educational loan over lo a collection agency for collection. Sl1011lcl this action be inslituted by Ute University, then, will be aclcli1ional d,argt"S for rea.,onable collection of the balance clue. All u-.insc1ipts and diploma., shall be wiu1- hdcl unlil the outstanding amount is paid in full. REFUNDS- OVERPAYMENT Payments to student accounts which re.~ult in a credit bal ance will Ix: refunclecl upon reque.,t, or in accordance with ca.sh managemenl regulations a., recptired by federal regula tions for students having lede1-.il aid. Re<(Ut"Sts for adj1LstmenL, I< 1 charges m1Lsl be made within 4 mon llL, horn the dale of lhe slll<le111's statement nu which the cltaq:;e firs! appt--.,11,. FINANCIAL AID INFORMATION ii i., the desire of Biola Un ive1,ity, wirhin Ute limits of its resources, In provide finan cial ass istance to studenL, wirh
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dent withdraws. Wuk 3- 80% Wuk6-60%
Week 4- 74% Week 7-54%
Weck 5- 67%
W,.ek8-47% Wuk 9 - (fint~ime students recei11i11~Jed.era I aid) - 40 % 2. Room - encl of the mnnlh in which the sruclent olli- cially checks out of !he residence hall . Wtthdr.1wals alier eighth week of classes: 1. Tuition - no rdimcl. 2. Room - encl oftlte mnnlh in whirh the stuclenl olli cially check., out the rt'.,iclence ltall . First-time studen 1., receiving Fecleral Student Financial A,si.,tance are suhjecl to tlte Staluto1y Pro Rata Refund a., prescribed by federal law. lnterterm and Summer Session Refund Policy 1. Room and Boanl i., pro-r.1tecl to the encl of tl1e week ofollicial wirhclrawal. 2. $25 of Ute tuition charge i., cn11,icleml a rq;is11-..1in11 lee and i., no11-refu11clable. 3. Oflicial wirhch-.iwal from Summer Session must ht'. made through the Regisll-.ir's Ollice. Rdimcl t-.ilt'.S are clet erminecl by rite dale in which th" wrillt'.11
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