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Admissions and Financing Tuition, Fees, Payment and Refunds Students Receiving Federal Title IV Student Aid Funds A student who leaves Earlham after 4:00 p.m. on the 10th class day and before completing 60 percent of the semester will receive a refund of no more than 75 percent and no less than 40 percent of tuition and fees (determined on a pro-rata basis). The pro-rata basis for refunding tuition and fees is calculated daily and counts all calendar days between the first day of classes and the last day of exams. Breaks of five days or longer during which no classes, exams, or reading days are scheduled are excluded from this calculation. After 60 percent of the semester is completed, tuition and fees are not refundable. Federal Title IV Student Aid fund(s) will be returned to the appropriate program(s) according to federal regulation. Currently, federal regulations require "unearned" Federal Title IV funds (excluding Federal College Work-Study funds) to be returned on a pro-rata basis when a student withdraws. For example, if a student who has received Federal Title IV aid withdraws and 30 percent of the semester is completed, then 70 percent of his/her Federal Aid is "unearned" and must be returned. Aid is first returned to federal loan programs, then to federal grant programs. When calculating the amount of Federal Title IV aid which is "unearned," all calendar days between the first day of classes and the last day of exams are counted. Breaks of five days or longer during which no classes, exams, or reading days are scheduled are excluded from this calculation. After 60 percent of the semester is completed, Federal Title IV aid is not returned to federal financial aid programs if a student withdraws. "Unearned" Earlham-funded aid is returned to the appropriate Earlham College funds on the same basis as to federal funds. In most cases, 75 percent of "unearned" Earlham-funded aid is the maximum amount returned to the College when a student withdraws. Financial aid funds from states or other external agencies are returned following the requirements of the agency awarding the aid. |
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Earlham College · 801 National Road West · Richmond,
Indiana 47374-4095 |