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You are here:  Financial > Policies > Refund Policy

Refund/Return Policy

LACKAWANNA COLLEGE

REFUND/RETURN POLICY

 

Students who withdraw from LC will be entitled to an adjustment of tuition charges according to the refund policy described below.

 

In accordance with Federal regulations, those students who receive Federal Financial Aid and who withdraw from LC during the first 60% of a semester, will have their Federal Financial Aid adjusted based on the percent of the semester completed prior to withdrawal. That is, students will be entitled to retain the same percent of Federal Financial Aid received as the percent of the semester completed. This percent is calculated by dividing the number of days in the semester into the number of days prior to the withdrawal. Students who do not follow the official withdrawal procedure but who stop attending classes will be considered to have withdrawn at the 50% point of the semester unless attendance is documented after that time. There will be no adjustment to Federal Financial Aid after completion of at least 60% of the semester.

 

This policy applies to all Federal Financial Aid except college work-study. It includes Pell Grants, ACG grants, Supplemental Educational Opportunity Grants (SEOG), Perkins Loans, Subsidized and Unsubsidized Federal Direct Stafford Loans and Federal Direct Plus Loans.

 

When the amount of the Federal Funds to be returned has been calculated, the funds will be returned in the following order:

 

Unsubsidized Federal Direct Stafford Loans

Subsidized Federal Direct Stafford Loans

Perkins Loans

Federal Direct Plus Loans

Pell Grants

ACG (Academic Competitiveness) Grant

 Supplemental Educational Opportunity Grants (SEOG)

 

Please note that students WHO RECEIVE A REFUND OF FINANCIAL AID PRIOR TO WITHDRAWING MAY OWE A REPAYMENT OF THOSE FUNDS. Students will be contacted by the Financial Aid Office in such situations and will be given 30 days to repay the funds to Lackawanna College. Students who fail to return the unearned portion of Federal Financial Aid funds given to them will become ineligible for continued receipt of Financial Aid until such time as the repayment is made.