Refund and Repayment Policy
Palmer College applies the following rules concerning refunds. The
withdrawal/refund amount is calculated by using the first calendar day of
the trimester as the first day of attendance.
Withdrawals: The Federal Pro Rata refund applies to any student
withdrawing from the College on or before the 60 percent point of time in
the period of enrollment for which the student has been charged. Palmer
College will determine the portion of the enrollment period for which the
student has been charged that remains on the last day of attendance by
the student, rounded downward to the nearest 10 percent of that period,
less any unpaid amount of a scheduled cash payment for the period of
enrollment for which the student has been charged, and less the
administrative fee that does not exceed the lesser of $100 or five
percent of tuition.
Drops: The College will refund:
- 100 percent of institutional charges for the period of enrollment
for which the student was charged if a student drops on or before the
first day of classes.
- at least 90 percent of the tuition charges if the student drops
between the first day of classes and the end of the first 10 percent
(in time) of the period of enrollment for which the student was
charged.
- at least 50 percent of the tuition charges if the student drops
between he end of the first 10 percent (in time) and the end of the
first 25 percent (in time) of the period of enrollment for which the
student was charged.
- at least 25 percent of the tuition charges if the student drops
between the end of the first 25 percent (in time) and the end of the
first 50 percent (in time) of the period of enrollment for which the
student was charged.
Title IV:
All refunds calculated will be returned to the Title IV Federal Family
Education programs in the following order within 60 days of the official
withdraw date or the date the student has dropped:
- Un-subsidized Federal Stafford loans
- Federal Subsidized Stafford loans
- Federal PLUS loans
- Federal Perkins loans
- Federal Pell grants
- Federal SEOG program
- State aid
- Institutional aid
- Student
To comply with the new Federal Regulations regarding refunds of
non-earned Title IV Aid, unearned aid disbursed to the student for living
expenses must be refunded by the student to the lender in the percentages
outlined above. If funds must be repaid to a Title IV loan program, the
student (or parent in the case of a PLUS loan) returns those funds by
normal repayment of the loan according to the terms and conditions of the
promissory note. If refunds must be repaid to a Title IV grant program,
the student is obligated to return only one-half of the unearned grant
amounts. Implementation date was July 1, 2000.
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