Refund Policy
Refund of Tuition (When there is NO Federal Financial Aid Resources): In the event a student withdraws from a course, the student will receive a refund based on the dates of the courses enrolled. Refunds are calculated on the total tuition and fees paid;. If a student received Federal Financial Aid, please read the next section. (Please refer to the class schedule book for specific dates.)
Refund Schedule
| Normal/full-length semester classes | 8 week classes | Less than 8 weeks |
|---|---|---|
| First ten class days of semester | First five class days | First Day of Class |
| 100% refund | 100% refund | 100% refund |
| After day 10: No refund | After day 5: no refund | After Day 1: no refund |
ECollege/online courses, Ed2Go/Gatlin Education and other special course schedules differ; beginning dates and refund dates vary. Compressed course drops are cancelled with refund only before second class meeting starts. No partial refunds are granted on compressed courses. A student who registers but later is unable to attend must notify the college before the last date to cancel the course(s) or program to avoid charges and/or grades. Some exceptions may apply.
Refund of Tuition (Federal Financial Aid/Title IV Funds): Refunds of tuition will be calculated based on the refund policy. The student’s account balance may be affected by the financial aid adjustment that occurs after the Return to Title IV calculation. “Return to Title IV Funds” (Federal Financial Aid) formula dictates the amount of Federal Financial Aid that must be returned to the government by the student. This formula is applicable to any student receiving any type of federal aid other than Federal Work Study if that student withdraws before the 60% completion point of the semester. If funds are released to a student or their account, the student may be required to repay some of the federal grants and loans.
Return to Title IV will be based on credit-hour courses. Some of these courses are considered modular and are not a full semester long. For unofficial withdrawals, the return will be calculated bases on the midpoint (50%) unless the last day of attendance can be documented. For Title IV aid that has not been disbursed, but could have been disbursed, is to be used in the calculation of return of Title IV funds. The student needs to have completed all requirements prior to the date that they became ineligible. The Department needs to have processed a Student Aid Report (SAR) with an official expected family contribution (EFC). For FSEOG, Iowa Lakes Community College has to have made the award to the student. For a Direct Loan, Iowa Lakes Community College needs to have originated the loan. All post-withdrawal disbursements are applied to the student’s account first and any resulting credit balance will be refunded to the student. Credit balance created by the return of Title IV calculation will be distributed no later than 14 days after the calculation.
Generally the law states (section 485 of the Higher Education Amendments of 1998—P.L./105-244) that the amount of assistance the student has received is determined on a prorated basis, in relationship to the specific term and the amount of the term completed. opens in a new windowStudents can calculate their liability by logging on to www.r2t4.com and selecting the “continue” button. Students need to contact the Financial Aid Office for an exit interview and to verify the accuracy of their calculation.(See “Withdrawing from College” for related information.)
Important: Iowa Lakes Community College reserves the right to change the Refund Schedule at any time.
Called to Active Duty
Students who are called to active duty before a semester begins should submit a copy of their orders to the Registrar’s Office. Arrangements for loan deferments and other issues cannot be completed until a copy of the orders are on file in the Registrar’s Office.
Students who are called to active duty after a semester begins must submit a copy of the activation orders to the Registrar’s Office, to be considered for this option. The date the student is ordered to active duty is the date that will be used.
Withdrawing from Classes
Students called to active duty before the two-thirds point in the term will receive a full refund of tuition and mandatory fees.
Students called to active duty after the two-thirds point in the term will have the choice of: receiving grades currently earned based on all work due at the time of activation; or receive a full refund of tuition and mandatory fees.
Students who choose to receive grades will not receive a refund of tuition and fees.
Please note: These procedures also apply to the spouse of members of the National Guard or Reserve Forces of the United States, who are called to active duty, and who have dependent children. These procedures do not apply to students who are fulfilling their two-week annual training.
Financial Aid for Students Called to Active Duty
Students called to active duty, who receive a full refund of tuition and mandatory fees will have a return of federal financial aid calculation done. If funds are released to a student or their account, the student may be required to repay some of the federal grants and loans.
