WDT REFUND POLICY
Refunds for Students Adjusting their Class Schedule Only
An add period is held the first week of school; a drop period is held the first two weeks of the Fall and Spring terms (the first day of the Summer term) for students needing to make adjustments to class schedules. Classes dropped on or before the the drop deadline (please see the Academic Calendar) will be refunded at 100%. Please note that this refund policy is for class schedule changes only. The refund policy for students finding it necessary to completely withdraw from WDT follows.
Refunds for Students who Completely Withdraw from WDT
Students who withdraw (regardless if the withdraw date is during the drop/add period) are charged for their attendance through the last day of attendance (after 60% of the term, however, 100% of the student’s charges remain due). Students who do not complete a term of enrollment and who have accepted federal financial assistance should be aware that implementation of these refund/repayment policies may result in an obligation by the student to actually REPAY some of those funds to the source.
The U.S. Department of Education’s Return to Title IV Funds Policy will be followed for all students who withdraw completely from WDT and their transcript reflects all “W” entries. Refunds for students completely withdrawing from WDT on or after 60% of the term is completed will not be issued.
If a student withdraws before completing 60% of the term, the amount of refund that WDT would make will be determined by calculating the percentage of the period completed by the student and the percentage of Title IV aid earned by the student. The illustrated calculation will be made for students who withdraw before completing 60% of the term:
EXAMPLE OF REFUND CALCULATION BY WDT FOR TITLE IV AID
Institutional Charges: $1,350.00
Percentage of Term Completed by Student: x 30%
Amount of Aid Earned: $405.00
Institutional Charges: $1,350.00
Amount of Aid applied to Student’s Account: – $405.00
Amount of Unearned Aid refunded by WDT* $945.00
*See Refund Allocation Chart. Depending upon the Title IV Aid disbursed, the student may also have an obligation to actually REPAY some of that federal assistance to the source.
Refunds for Students Receiving Title IV Funds
The amount of refund will be determined by calculating the percentage of the period that the student completed and calculating the percentage of Title IV aid earned by the student. Depending upon institutional charges and disbursements made, the student and WDT may be responsible for returning Title IV funds to the U.S. Department of Education and/or the student’s lender.
Refunds for Students Who Do Not Receive Title IV Funds
The amount of refund will be determined by calculating the percentage of the period that the student completed. WDT will make the refund directly to the student.
Refunds for Students Receiving Outside Funding
The amount of refund will be determined by calculating the percentage of the period that the student completed and calculating the percentage of Title IV aid earned by the student (if applicable). Refunds will be made according to the Unearned Fund Allocation chart below, or directly to the agency if Title IV funds were not disbursed to the student.
Depending upon institutional charges and disbursements made, the student and WDT may be responsible for returning Title IV funds to the U.S. Department of Education and/or the student’s lender. WDT reserves the right to repay Title IV funds and/or over-payments resulting from a refund calculation with funds received for non-institutional charges that may appear on the student’s account (for example, books, laptop, etc.)
An eligible student who withdraws before receiving a Title IV disbursement may be eligible to receive a post-withdrawal disbursement. However, any post-withdrawal disbursement due to the student will be applied to the student’s account (when applicable and permissible) before the student receives any funds. A student must make satisfactory arrangements to pay their student account, if a balance is outstanding.
Failure to make satisfactory arrangements may result in turning the account over to a collection agency for processing, which may result in additional fees to the student.
Refund Allocation Chart
Unearned funds (refunds) are allocated to the Title IV programs from which the student received assistance, in the following order:
- Unsubsidized Federal Stafford Loan 8. Federal Pell Grant
- Subsidized Federal Stafford Loan 9. ACG
- Unsubsidized Federal Direct Stafford Loan 10. FSEOG
- Subsidized Federal Direct Stafford Loan 11. Other Title IV grant or loan
- Federal Perkins Loan 12. Other funds, including
- Federal PLUS loan 3rd party funds, scholarships,
- Federal Direct PLUS Loan other assistance