Refund Policies

 

Notification Requirements

All Undergraduate Matriculated (degree seeking) students who withdraw from BSU must communicate their withdrawal in writing through the Academic Achievement Center.

All Graduate Matriculated (degree seeking) students who withdraw from BSU must communicate their withdrawal in writing through the Office of Graduate Studies.

The Refund Policy pertains to the amount of tuition, fees, housing and meal plan that a student will be charged.  The Financial Aid Withdrawal Policy pertains to the amount of financial aid that the student may keep, based on the student's date of withdrawal. To view the University's refund policies regarding all charges, click here.

 

Financial Aid Withdrawal Policy

Students who are receiving financial aid (federal, state, and institutional) are subject to the Financial Aid Withdrawal Policy.  BSU must return any financial aid funds (including loans) to the appropriate aid programs that were not ‘earned' by the student.  The amount of aid ‘earned' by the student is determined based on the amount of time the student was enrolled. For example, if a student only completes 5% of the semester, the student only ‘earned' 5% of their financial aid.   Two separate calculations are performed:  one with all federal aid and a second with all other aid.  The student in this example would be allowed to keep 5% of all federal aid and 5% of all other aid.

 

The Financial Aid Withdrawal Policy requirement remains in effect beginning the day after drop/add until the 60% point of the semester, November 8, 2012 for the fall semester, April 4, 2013 for the spring semester.  The dates for the 2013-14 school year are November 7, 2013 for the fall semester, and April 4, 2014 for the spring semester. After those dates the student may retain all financial aid.  Financial aid will be completely canceled for students who withdraw during the drop/add period.

 

The Financial Aid Withdrawal Policy applies to all types of financial aid, including merit aid.

 

It is very possible that a student who receives financial aid and withdraws during the Financial Aid Withdrawal period will owe a balance or a repayment to the BSU Student Accounts Office and may be required to repay funds to the U.S. Department of Education.

 

Before calculating the amount of financial aid that must be cancelled, the following is taken into consideration:

 

·         If a Promissory Note for a PERKINS LOAN, MASS NO INTEREST LOAN, DIRECT SUBSIDIZED LOAN or DIRECT UNSUBSIDIZED LOAN has not been signed and submitted by the student prior to the withdrawal date, the loan(s) is automatically canceled.

 

·         If Entrance Counseling has not been completed by the student prior to the withdrawal date, the DIRECT SUBSIDIZED LOAN and DIRECT UNSUBSIDIZED LOAN are automatically canceled.

 

·         If the student is a first time attendee of BSU and withdraws during the first 30 days of the semester, the DIRECT SUBSIDIZED LOAN and DIRECT UNSUBSIDIZED LOAN are automatically canceled.

 

·         If a MASSGRANT or other State Grant is expected and not actual on the date of withdrawal, the MASSGRANT or other State Grant is automatically canceled.

 

The calculation applies the percentage to the amount of aid after the above adjustments have been made.

 

To see some refund examples, please visit our website at www.bridgew.edu/FinancialAid/refundex.cfm

 

 

FINANCIAL AID REFUND EXAMPLES

Example A

 

Laurie is a first time attendee at BSU, enrolled in 12 credits during the fall semester.  Laurie withdraws on 9/15/05 (during the second week of classes).  Based on the Refund Policy, Laurie receives an 85% refund on her tuition and fees.  She is responsible for paying 15%.

 

Because Laurie withdrew on the second day of class, she only completed 7.5% of the semester.  Since she only ‘earned' 7.5% of her financial aid, she is only entitled to receive 7.5% of the financial aid that she was eligible to receive on the date that she withdrew.

 

ORIGINAL BILL                                   REVISED BILL

 

Day Tuition                                            455.00                                                                   68.25

SGA Fee                                                   24.00                                                                    24.00

Technology Fee                                        15.00                                                                      15.00

Day Fees                                              2624.00                                                                   393.60                                   

Orientation Fee                                     120.00                                                                    120.00

Health Insurance                                1250.00                                                                  1250.00

Parking Decal                                         100.00                                                                    100.00

 

Total Bill                                                4588.00                                                                 1955.85

 

                                                ORIGINAL                                            ELIGIBLE AID                                      REVISED

                                                FINANCIAL AID                                  AT TIME OF WD                                  FINANCIAL AID

 

BSU Fee Grant                      1000.00                                                 1000.00                                                                    75.00

Direct Sub. Loan                   1750.00                                                   0.00 (withdrew prior to 30 days)                         0.00

Expected Massgrant              400.00                                                   0.00 (was expected, not actual)                           0.00

Pell Grant                               1375.00                                                 1375.00                                                                  103.00

Perkins Loan                           1000.00                                                     0.00 (did not sign note)                                    0.00

 

Total Aid:                               $5525.00                                              $2375 (1375 federal)                                          $178.00

                                                                                                                          (1000 other)

 

Originally, Laurie did not owe anything on her bill (she was expecting a refund of $930+ to help with other educational expenses).  After the refund process, she now owes the college $1777+ as a result of her withdrawal.

 

Example B

 

Mike is a returning student, enrolled in 12 credits, living in campus housing.  Mike withdraws on 9/30/05 (during the 4^th week of classes).  Based on the Refund Policy, Mike is not entitled to receive any refund on his billed charges.  He is responsible for paying 100%.

 

Based on Mike's date of withdrawal, he completed 21.7 % of the semester.  Since he only ‘earned' 21.7% of his aid, he is entitled to receive 21.7% of the financial aid that he was eligible for on the date that he withdrew.

 

ORIGINAL BILL                                                   REVISED BILL

 

Day Tuition                                              455.00                                                                 455.00

SGA Fee                                                     24.00                                                                   24.00

Technology Fee                                          15.00                                                                    15.00

Day Fees                                                  2624.00                                                               2624.00

Parking Decal                                           100.00                                                                    100.00

Room                                                         1600.00                                                                 1600.00

Board                                                       1200.00                                                                  1200.00

 

Total Bill                                                  6018.00                                                                  6018.00

 

                                                ORIGINAL                                            ELIGIBLE AID                                      REVISED

                                                FINANCIAL AID                                  AT TIME OF WD                                  FINANCIAL AID

 

Direct Sub. Loan                                   1750.00                                  1750.00                                                                  0

Actual     Massgrant                              300.00                                    300.00                                                                 65.00

Pell Grant                                               1375.00                                 1375.00                                                                  678.00

 

Total Aid:                                               $3425.00                              $3425.00 (3125 federal)                                    $743.00

                                                                                                                                  (300 other)

 

Originally, Mike owed $2590+ on his bill.  After the refund process, he now owes the college$5275 as a result of his withdrawal.

 

 

 

 

Example C

 

Justin is a freshman commuter who is enrolled full time.  He withdraws on November 20, 2011.  Based on the Refund Policy, Justin is not entitled to receive any refund on his billed charges.  He is responsible for paying 100%.

 

Based on Justin's date of withdrawal, he has completed at least 60% of the semester, so he is entitled to keep 100% of his financial aid.

 

 

 

Last Modified: January 25, 2013