A student who cancels enrollment by notifying the school within five (5) days after the semester start date will receive a full refund of all prepared payments with the exception of the nonrefundable application fee. The five (5) day grace period is used for students to determine whether they want to continue enrollment. Students will be responsible for all books, supplies and tools received during the five (5) day grace period and will be billed if lost, stolen, broken or marked in any way.
After the five (5) day grace period, a student will be liable for the cost of any textbooks, supplies and/or tools accepted, plus a tuition liability from the last date of physical attendance (LDA). Tuition liability is limited to the quarter/term during which the student withdrew or was dismissed in addition to all previously completed quarters/terms.
Recipients of federal Title IV funding who either withdraw or are dismissed from school during a payment period in which the student began attendance, will have the amount of Title IV funds they did not earn calculated according to federal regulations. This calculation will be based on the student’s last date of attendance and the date the school determines that the student has withdrawn from school, or the date of dismissal for a student who is dismissed by the school.
Ridley-Lowell is required to determine the refund of Title IV funds based upon the percentage of the payment period completed prior to withdrawing. Title IV funds must be returned to the Department of Education if the student received an overpayment based upon costs not incurred in which Title IV funds were received.
Federal regulations require that the school return Title IV funds disbursed for the payment period used for institutional costs in the following order:
Unsubsidized Federal Direct Loans
Subsidized Federal Direct Loans
Federal Direct PLUS loans received on behalf of the student
Federal Pell Grants
After the return to Title IV (R2T4) has been processed, the student will be notified by either phone or mail and issued an updated account card. Students will be notified of any balance changes or money owed to the school.
Financing Your Education
Financing your education should be well thought out before making any commitments. There are several ways to finance your education, such as family support, financial aid, part-time/full-time employment, savings, scholarships, and other various agency or government grants.
When financing your education, understand you are making an investment in yourself. Higher education can be expensive to the average student, but acknowledging that education provides the opportunity to increase your earning potential makes pursuing education worthwhile.
Developing your financial plan early and taking the time to familiarize yourself to all resources available can reduce time and frustration experienced.
Ultimately, the financial burden of paying for higher education rests with the student and their family. However, financial aid for those who qualify provides students an opportunity to acquire the education they desire. Depending on the circumstances surrounding each student’s financial responsibilities, each student will have separate eligibility and financial aid awards. Eligibility can only be determined by filling out a Free Application for Federal Student Aid (FAFSA).
Meeting Financial Need
Financial need is the difference between total college costs (tuition, fees, books, housing, transportation, and personal expenses) and the assessed ability of the student and family to contribute to the student’s educational expenses. Student financial aid at Ridley-Lowell is awarded on the basis of financial need. Financial assistance is available for eligible students from several sources — including the federal government, public and private agencies, organizations, and companies. The Financial Aid Department is available to assist any student with understanding the Financial Aid process.
Complete the Free Application for Federal Student Aid (FAFSA). You may do this by applying on the web, using www.fafsa.gov. Your eligibility for all federal aid programs and most other types of aid administered by Ridley-Lowell will be determined by using the FAFSA. To sign your FAFSA electronically, you must have a PIN number. You can apply for a PIN number at www.pin.ed.gov.
All financial aid applicants may be required to submit IRS Tax Return transcripts and/or W-2 forms, and also provide appropriate non-taxable income documentation when required.