The following pertains to all refund policies applied by the University unless specifically stated otherwise.
Truett McConnell University, like most universities, must make commitments in advance for faculty, staff, equipment, supplies, utilities and other operating expenses for the entire year. Therefore, the University policy considers the acceptance of registration as a contract-binding student and parents for charges for the entire semester.
The Federal Refund Policy states, up through the 60% point in each payment period or period of enrollment, a pro-rata schedule is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% point the payment period or period of enrollment, a student has earned 100% of the Title IV funds he or she has scheduled to receive during the period. Students may owe a repayment of Federal Funds to the government or funds to the institution.
Students suspended or expelled from the institution for any reason forfeit their right to a refund of any credit balance on their student account.
In the event of a complete withdrawal, the institution will calculate a refund through the 60% point of the semester, with the exception of the online program. After 60% of the semester has been completed, there will be no refund of tuition. A refund is calculated by dividing the date of withdrawal by the number of federally defined days in the semester. Board fees will be refunded on a pro-rata basis. There is no refund of room after the fifth day of class. Refunds for students receiving federal aid will be calculated using the current federal policy.
In the event of a complete withdrawal from the online program, the institution will calculate a refund based on the weeks of completion. A 100% refund is available if the student has not logged in by the 1st day of classes. A 50% refund is available through the fifth day of instruction. There is no refund after the fifth day of instruction.
All students should check with the Business Office and Financial Aid before withdrawing to verify financial implications.
- The schedule is independent of financial aid. Grants and scholarships may be lost due to drops or withdrawals. Students MUST contact Financial Aid for specific advice.
- No adjustments to tuition charges will be made for students dropping coursework (but not withdrawing), after the last published day of drop/add.
Student accounts are reviewed when federal funds are posted to determine if a refund is necessary. Federal funds that create a credit balance greater than allowable cost must be refunded to student within 14 days of receipt. If it is determined that a refund is necessary, then it will be processed. Checks are either mailed to student or held for pick-up in the Business Office. If the refund is due to a parent loan then a refund check will be mailed to the parent with address provided from the financial aid office; unless parent advises otherwise. Credit balances unrelated to federal funds that are created within an academic year can carry from semester to semester to cover a balance. When reviewing a student account you must never use a credit from one academic year to cover the balance of a previous academic year.
Students may request a refund by submitting a Refund Request form. The Business Office will follow the request of the student to either mail or pick up check at Business Office. Students picking up their refund check must show ID and sign for the check.