Tuition and Fee Refunds
Regulations of the Board of Regents of the University System of Georgia provide for tuition and mandatory fee refunds when formal withdrawal from the institution is approved within a designated period following registration.
The refund percentage that a student receives is a calculation of the time remaining in the semester up through 60% of the semester. Once 60% of the semester has expired, there is no refund for a withdrawal from the institution. The refund calculation is based on days enrolled in the semester divided by the number of calendar days in the semester including weekends and holidays, but excluding breaks of five(5) or more consecutive days.
A refund of all semester tuition and other mandatory fees is made in the event of death of a student any time during an academic semester. (BR Minutes, 1979-80, p. 61; 1986-87. pp. 24-25; 1995, 6. 246).
Refunds are not issued for a reduction in class load after the first day of classes.
Excess Financial Aid Refunds
Fort Valley State University has partnered with BankMobile Disbursements to manage student and parent refund disbursements. Students can either have funds deposited to an existing checking or savings account, or have funds deposited electronically to a BankMobile Vibe account. Funds deposited to a BankMobile Vibe account are accessed with a Vibe Mastercard branded debit card.
Parents receiving refunds from parent plus loans will receive a check at the address provided on the parent loan application. Once the check is received, parents have the option of either cashing the check, or having the funds assigned to the refund preference associated with their student’s account.
BankMobile Disbursements website: www.RefundSelection.com
BankMobile Customer Service Phone: 1-877-327-9515
BankMobile Customer Service Fax: 1-866-309-7443
Title IV Refunds due to Withdrawal from the University
THIS POLICY SHALL APPLY TO ALL STUDENTS AT FORT VALLEY STATE UNIVERSITY WHO RECEIVE FINANCIAL AID FROM TITLE IV FUNDS AND WHO TOTALLY WITHDRAW, DROP OUT OR STOP ATTENDING ALL CLASSES WITHOUT OFFICIALLY WITHDRAWING.
Federal regulations require that when you officially withdraw from the university or stop attending your classes that the amount of Federal Title IV Financial Aid assistance that you have “earned” up to that point must be calculated using a pro-rata formula. If you received more Financial Aid than you earned, the excess funds will be returned on your behalf by the University to the program in which you received aid. In most instances this will leave you owing the University.
If you change your enrollment status within the first 14 days of classes, your financial aid will be adjusted accordingly and you may possibly owe the University.
If you have completed more than sixty percent (60%) of a period of enrollment (i.e. fall term, spring term) you have earned all of your Financial Aid and your account will not be adjusted. Anything less than earning 60% of your aid will require an adjustment and billing.
Upon receipt of the official withdrawal notification from the Registrar’s Office, the Student Financial Services will perform the return calculation. You will be notified by mail. If there is any outstanding balance with the University you are responsible for making payment arrangements with the Student Financial Services Office.
|What can happen if I withdraw from all my classes or
stop attending classes and get all “F” grades?
Students who withdraw from all classes prior to completing more than 60% of an enrollment term will have their aid recalculated based on the percent of the term they completed. For example, a student who withdraws completing only 30% of the term will have “earned” only 30% of any Title IV aid received. The remaining 70% must be returned. The Financial Aid Office encourages you to read this policy carefully. If you are thinking about withdrawing from all classes PRIOR to completing 60% of the semester, please CONTACT Student Financial Services to see how your withdrawal will affect your financial aid and your possible repayment.
“Title IV Funds” refers to the federal financial aid programs authorized under the Higher Education Act of 1965 (as amended) and includes: Federal Subsidized and Unsubsidized Stafford Loans, Parent Loans to Undergraduate Students (PLUS), Federal Pell Grants, Teacher Education Assistance for College and Higher Education Grant (TEACH) and Federal Supplemental Educational Opportunity Grant (FSEOG).
A student’s withdrawal date is:
- the date the student began the institution’s withdrawal process (as described in Fort Valley State University’s Class Schedule) or officially notified the institution of intent to withdraw; or
- the midpoint or later date of the period for a student who stops attending all classes without notifying the institution; or
- the student’s last date of attendance at a documented academically-related activity.
- Exception: For veterans receiving veteran’s benefits the withdrawal date is the last date of attendance or date of the last documented academically-related activity.
Notification of withdrawal should be in writing and addressed to the University Registrar Office.
The percentage of Title IV aid unearned to be returned to the appropriate program shall be 100% minus the percent earned. No program can receive a refund if the student did not receive aid from that program. Unearned aid shall be returned first by Fort Valley State University from the student’s account to the appropriate programs in the following order:
- Unsubsidized Stafford Loan
- Subsidized Stafford Loan
- Parent Loans to Undergraduate Students (PLUS)
- Federal Pell Grant
- Federal SEOG
The Student Financial Services Office will notify the student of the amount of repayment within 30 days of determining the student’s withdrawal. The student has 30 calendar days after notification to make a repayment in full or make satisfactory repayment arrangements with Fort Valley State University’ Business Office.