First-time students receiving Federal Student Financial Ass istance are subject to the Statutory Pro Rata Refund as prescribed by federal law. lnterterm and Summer Session Refund Policy I. Room and Board is pro-rated to the end of the week of official withdrawal. 2. $25 of the tuition charge is considered a registration fee and is non-refundable. 3. Official withdrawal from Summer Sess ion must be made through the Office of the Registrar. Refund rates are determined by the date in which the written request for registration change or withdrawal was made. Refunds are subject to the fo ll owing schedule: ■ First week - complete refund, except $ZS regis tration fee. ■ In a two week course - no refund the second week. ■ In a three or four week class, 30% refunded dur ing the second week, none thereafter. ■ In five week c lasses, .'i8% the second week. 30% the third week, none thereafter. ■ Classes that do not fal l within the regular session dates will stil l follow the refund schedule under the first session. All a rranged courses follow the refund schedule of the first session. No cou rse may be dropped after its ending date. and no tuition will be refunded if a student unofficially withdraws after the final day to officially drop a class has passed. C lass fees are not refundable after the second day of the session. Tuit ion refunds for class changes (where applicable) will be made in the same manner as refunds for withdrawa ls (i.e. , full refund within first two weeks of c lasses and pro rated refund afte r second week until end of e ighth week). All refunds must be requested by properl y completing and submitting a departure card or class drop form, the offi cial withdrawal date determining the amount of refund. Class , laboratory, hea lth, insurance, parking. activity and ocher fees are refundable on ly if withdrawal is on or before the final date of late registration. Music fees are fur private music lessons and are refund ab le in the same manner as tuition, except nu refund after the si xth week. OUTSTANDING BALANCES As Biola is an educational institution. any balance owing on a student's account is an extension of credit by the Uni versity and is considered an educationa l loan with in the meaning of section S23 (a) (8) of the U.S. Bankruptcy Code. If a loan becomes in default, Biola ma y disclose the default, along with other relevant information, to credit bureau organizations and turn the educationa l loan over to a col lec tion agency for co ll ection. Shou ld this action be instituted by the University, there will be add itiona l charges for rea sonable collection of the balance due. All transcripts and diplomas shall be withheld until the outstanding amou nt is paid in full. An account is considered paid in full when a ll checks clear the bank.
FINANCE CHARGES A finance charge of 1.5% per month of the first $1,000 of unpa id balance and 1 % per month of unpaid balance ove r $1,000 is added at each billing to carry the account. Tran scripts (official and unofficial) are withheld if a student has an outstanding obligation to the Unive rsity or is in default on any government based loans. All pa yments to a student's account after enro llment should be addressed as fo ll ows: Accou nting Department Biola Unive rsity 13800 Biola Avenue La Mirada, CA 90639-0001 In addition, to insure timely processing, the student name and ID number must be clearly noted on all pay ments. A student is not registered and cannot attend classes until satisfactory financial arrangements have been made with the Student Acco unting Office. REFUNDS-WITHDRAWAL Inasmuch as faculty engagements and other commitments are made by the University fo r the entire year in advance, the following refund schedu le has been estab li shed in order that the University and the student may share the loss equitably when it is necessary for a student to withdraw from school: Fall and Spring Semester Refund Policy Withdrawal within the first two weeks of classes: I. Tuition - full amount, less enrollment deposit (stu dents with six or fewer units, $25; audito rs, $20). 2. Room - end of the month in which the student offi cially checks out of the residence hall. Withdrawal after the second week and before the end of the eighth week of classes (except for special programs): I. Tuition - pro-rated as of end of week in which stu
dent withdraws. Week 3 - 80% Week 6 - 60%
Week 4- 74% Week 7 - 54%
Week 5 - 67%
Week 8 -47% 2. Room - end of the month in which the student offi cially checks out of the residence hall. Withdrawals after eighth week of classes: I. Tuition - no refund. 2. Room - end of the month in which the student offi c iall y checks out the residence hall.
12 • Financial Information
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