Refund Policy

FEDERAL (TITLE IV AID) REFUND POLICY

Federal regulations require the use of the Return of Title IV Funds Policy to be used for all students receiving any type of federal aid when calculating the aid a student can retain after withdrawing. This policy relates to Federal Pell and FSEOG Grants, as well as Federal Perkins, Federal Direct Stafford and Federal Direct PLUS loans. The same policy will be used for State and institutional aid.

Title IV regulations govern the return of aid disbursed for a student who completely withdraws from a term or semester. During the first sixty percent (60%) of the term or semester, a student "earns" aid in direct proportion to the length of time the student remains enrolled. A student who remains enrolled beyond the sixty percent (60%) point earns all aid for that period.

The Financial Aid & Consumer Information Handbook contains information about USM’s financial aid programs and policies. It also includes consumer information required by the U.S. Department of Education. It is available online at www.stmary.edu/Admissions/Financial-Aid.

USM REFUND POLICY

It is the student’s responsibility to formally notify the Registrar’s Office and to follow proper procedures when dropping a course or withdrawing, Failure to pay fees, failure to receive financial aid, failure to attend class, or refusing financial aid does not constitute an official withdrawal.

The amount of tuition refund will be based on the official drop or withdrawal date, not attendance. The official drop or withdrawal date is the date that the formal drop or withdrawal notice is initiated by the student, as determined by records maintained in the Registrar’s Office. T¬¬¬¬he refund time periods commence with the first day of classes according to the academic calendar and not the beginning date of individual courses.
 

Course Completion

Refund Rate

0 - 10%

100%

10.01 - 25%

50%

25.01 - 100%

0%

 

  1. Rooms are rented for the semester. Student circumstances will be considered to determine if a refund is warranted upon breaking the rental contract.

  2. Refund of board will be computed from the beginning of the second week after withdrawal.

  3. Advance tuition deposits are not refunded.

  4. General and Student Government fees are not refunded.

  5. Tuition is refunded in full for workshops that have been dropped at least three (3) business days prior to the date of the workshop. There are no refunds for withdrawals past that date or for not attending.

  6. See Military Withdrawal Policy.


Online students residing in certain states are entitled to a different refund policy.

MARYLAND

According to Maryland Higher Education Association, if an institution’s refund policy is not beneficial to students, the institution shall follow the refund policy and provide for refunds of tuition to Maryland Students as provided in the regulation. If an institution’s refund policy is more beneficial to Maryland students, the institution shall follow its refund policy and provide for refunds of tuition to Maryland students as provided in the policy. The Maryland Higher Education requires an institution’s refund policy for Maryland students shall be clearly disclosed to and acknowledged by students at enrollment.

The Maryland refund policy is more beneficial to students in all areas except for under 10% complete. USM refunds 100% of the tuition under 10% but Maryland only requires 90%

The following policy would meet the requirements set forth by the Maryland Higher Education Association:
 

Course Completion

Refund Rate

Less than 10%

100%

10% up to but not including 20%

80%

20% up to but not including 30%

60%

30% up to but not including 40%

40%

40% up to but not including 60%

20%

More than 60%

 No Refund


 


WISCONSIN

According to the State of Wisconsin Educational Approval Board (EAB) 8.05 the University of Saint Mary’s refund policy is more beneficial to the student in one instance, zero to ten present course completion. The following policy would meet the requirement set forth by the EAB and would be issued to Wisconsin students only:
 

Course Completion

Refund Rate

Less than 10%

Less than 10%

0 - 10%

100%

11 - 20%

80%

21 - 30%

70%

31 - 40%

60%

41 - 50%

50%

51 - 60%

40%

61% +

 No Refund