City Vision College: Return to Title IV Policy

The Federal Pell Grant Program is the only form of federal student aid included in the calculation. It is the only Title IV Program in which City Vision College participates.

The amount of Title IV aid earned is based on the amount of time student spends in academic attendance, and the total aid received;  it is calculated separately from the refund policy . Because these requirements deal only with Title IV funds, the order of return of unearned funds do not include funds from sources other than the Title IV programs.

Title IV funds are awarded to the student under the assumption that he/she will attend school for the entire period for which the aid is awarded which is one eight-week term at a time. When a student withdraws, h/she may no longer be eligible for the full amount of Title IV funds that were originally scheduled to be received. Therefore, the amount of Federal grant earned must be determined. If the amount disbursed to the student is greater than the amount earned, unearned funds must be returned.

Up through the 60% point in each payment period the required pro rata calculation is used to determine the amount of Title IV funds student has earned at the time of withdrawal. After the 60% point in the payment period, student has earned 100% of the Title IV funds.

City Vision College measures progress in eight-week terms and uses them as payment period for the period of calculation.

The Calculation Formula:

1)      Determine the amount of Title IV aid that was disbursed plus the Title IV aid that could have been disbursed.

2)      The percentage of Title IV aid earned by dividing the number of weeks scheduled to be completed in the payment period as of the last date of attendance in the payment period by the total weeks in the payment period.

If this percentage is greater than 60%, the student earns 100%.  If this percentage is less than or equal to 60%, proceed with calculation.

Percentage earned from the above formula (times) total aid disbursed, or could be disbursed = AMOUNT STUDENT EARNED.

Subtracting the Title IV aid earned from the total aid disbursed = AMOUNT TO BE RETURNED.  In almost every instance, students who participate past the fifth week of a term will have all of their Pell funds applied to their outstanding tuition. 

100% minus percent earned = UNEARNED PERCENT.

Unearned percent (multiplied by) total institutional charges for period = AMOUNT DUE FROM THE SCHOOL.

If the percent of Title IV aid disbursed is greater than the percent unearned (times) institutional charges for the period, the amount disbursed must be used in place of the percent unearned.

If the percent unearned (times) institutional charges for the period is less than the amount due from the school, the student must return or repay one-half of the remaining unearned Federal Pell Grant.

Students are not required to return the overpayment if this amount is equal to or less than 50 percent of the total grant assistance that was disbursed/or could have been disbursed. The student is also not required to return and overpayment if the amount is $50 or less.

City Vision College’s Financial Aid officer sends a GRANT OVERPAYMENT NOTICE to student within 30 days from the date of the school’s determination that student withdrew, giving the student 45 days to either:

·         Repay the overpayment in full to City Vision College,

·         Make repayment arrangements satisfactory to City Vision College, or

·         Sign a repayment agreement with the Department of Education.

NOTE: If the initial amount of overpayment owed is $50.00 or less, student’s repayment requirement is forgiven.

No further Title IV funds may be issued until the next evaluation when the student meets the satisfactory policy requirements. INSTITUTIONAL CANCELLATION AND  REFUND POLICY

Any monies due the applicant or student shall be refunded within 45 days of official cancellation or withdrawal. Official cancellation or withdrawal shall occur on the earlier of the dates that:

An applicant not accepted for enrollment school shall be entitled to a refund of all monies paid.

If a student (or in the case of a student under legal age, his/her parent or guardian) cancels his/her contract and demands his/her money back in writing, within three business days of the signing of the enrollment agreement or contract, all monies collected by the school shall be refunded This cancellation date will be determined by the postmark on written notification, or the date said information is delivered to the school administrator/owner in person. This policy applies regardless of whether or not the student has actually started training.

If a student cancels his/her enrollment after the three (3) business days after signing the enrollment agreement, but prior to entering classes he/she shall be entitled to a refund of all monies paid to the school, less the enrollment fee as follows:

For students who choose to withdraw from course, the following refund policy will apply:

Students who cancel their enrollment before the end of the first week of a course are entitled to a full refund of all money paid.

Once registered for n eight-week course the following shall apply if a student withdraws:

Refundable tuition after:

1st week of class - 80%2nd week of class - 60%

3rd week of class - 40%

4th week of class - 20%

5th week of class - 10%

After the 6th week - 0%

Enrollment time is defined as the time elapsed between the actual starting date and the date of the student’s last day of attendance in school.

Any monies due a student who unofficially withdraws from the institution shall be refunded within 45 days of a determination by the institution that the student has withdrawn without notifying the institution. To determine unofficial withdrawals, the school must monitor each student’s completion of class participation in learning activities, such as class, examinations, tutorials, computer-assisted instruction, and participation in academic counseling or advisement or other academically related activities.

When situations of mitigating circumstances are in evidence, the school may provide a refund which exceeds this refund policy.

If the school is permanently closed and no longer offers instruction, after a student has enrolled, the student shall be entitled to a pro-rata refund of tuition.

If a program or course is canceled subsequently to a student’s enrollment and before instructions in the program or course has begun, the school shall at its option:

provide a full refund of all monies paid; or

provide completion of the program or course

The arrangements or teach-outs to be performed are to be performed by an institution in the same geographic area as the original school that provided the program or course.

The school at which students continue their education and training shall not charge the students an amount greater than that to which the original school would have been entitled under its contract with the student and for which the student has not yet paid.

The original school shall notify affected students individually of the availability of the arrangement or teach-out plan, and diligently advertise such availability. The agreements among institutions may provide that these notices may be sent by the schools (s) that are accepting students from the original school

The original school shall dispose of school records in accordance with state laws.

WITHDRAWALS/COURSE INCOMPLETE

A student who withdraws from their course must do so in writing. Anyone who fails to complete his or her training will have a notice placed in his or her student file as to progress at the point of withdrawal and if the previous cumulative progress was not meeting satisfactory policy, it will still require the student to improve before financial aid is re-instated.