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Spring 2008 Refund Table
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University of Mary
Withdrawing Students Policy
Treatment of Student Aid and Tuition Refunds
The law specifies how the University of Mary must determine the amount of Federal Student Aid (FSA) assistance that you earn if you withdraw from school. The FSA programs that are covered by this law are: Federal Pell Grants, SMART Grants and Academic Competitiveness Grants, Stafford Loans, Parent PLUS and Graduate PLUS loans, Federal Supplemental Educational Opportunity Grants (FSEOG), Federal Perkins Loans and state grant aid. When you withdraw during your payment period, the amount of FSA program assistance that you have earned up to that point is determined by a specific formula. If you received (or your school or parent received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be returned.
The amount of assistance that you have earned is determined on a pro-rata basis. For example, if you completed 30 percent of your payment period, you earn 30 percent of the assistance you were originally scheduled to receive. Once you have completed more than 60 percent of the payment period, you earn all the assistance that you were scheduled to receive. All institutional assistance is also prorated on the same basis.
If you did not receive all of the funds that you earned, you may be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds, you may choose to decline the loan funds so that you don't incur additional debt. The University of Mary will automatically use all or a portion of your post-withdrawal disbursement for tuition, fees, and room and board charges.
If you receive (or your school or parent receives on your behalf) excess FSA program funds that must be returned, the University of Mary will return the entire amount of excess funds. The Student Accounts Office policy mirrors the requirements for FSA program funds calculation when you withdraw. Tuition, room and board and other fees charged by the university to your account will be prorated. You may still have an unpaid account balance for institutional charges for which you are responsible. You will also be charged for any FSA program funds that we were required to return.
If you have any questions regarding the University of Mary's refund policy or the FSA requirements, please feel free to contact the Financial Assistance Office at (701)355-8244 or the Student Accounts Office at (701) 355-8143.
Refund Schedule for Students Withdrawing From
the University of Mary
| Date |
|
No. Days
Attended |
|
Percentage Days Attended |
| 01/09/08 |
|
1 |
|
0.009% |
| 01/10/08 |
|
2 |
|
0.018% |
| 01/11/08 |
|
3 |
|
0.026% |
| 01/12/09 |
|
4 |
|
0.035% |
| 01/13/08 |
|
5 |
|
0.044% |
| 01/14/08 |
|
6 |
|
0.053% |
| 01/15/08 |
|
7 |
|
0.061% |
| 01/16/08 |
|
8 |
|
0.070% |
| 01/17/08 |
|
9 |
|
0.079% |
| 01/18/08 |
|
10 |
|
0.088% |
| 01/19/08 |
|
11 |
|
0.096% |
| 01/20/08 |
|
12 |
|
0.105% |
| 01/21/08 |
|
13 |
|
0.114% |
| 01/22/08 |
|
14 |
|
0.123% |
| 01/23/08 |
|
15 |
|
0.132% |
| 01/24/08 |
|
16 |
|
0.140% |
| 01/25/08 |
|
17 |
|
0.149% |
| 01/26/08 |
|
18 |
|
0.158% |
| 01/27/08 |
|
19 |
|
0.167% |
| 01/28/08 |
|
20 |
|
0.175% |
| 01/29/08 |
|
21 |
|
0.184% |
| 01/30/08 |
|
22 |
|
0.193% |
| 01/31/08 |
|
23 |
|
0.202% |
| 02/01/08 |
|
24 |
|
0.211% |
| 02/02/08 |
|
25 |
|
0.219% |
| 02/03/08 |
|
26 |
|
0.228% |
| 02/04/08 |
|
27 |
|
0.237% |
| 02/05/08 |
|
28 |
|
0.246% |
| 02/06/08 |
|
29 |
|
0.254% |
| 02/07/08 |
|
30 |
|
0.263% |
| 02/08/08 |
|
31 |
|
0.272% |
| 02/09/08 |
|
32 |
|
0.281% |
| 02/10/08 |
|
33 |
|
0.289% |
| 02/11/08 |
|
34 |
|
0.298% |
| 02/12/08 |
|
35 |
|
0.307% |
| 02/13/08 |
|
36 |
|
0.316% |
| 02/14/08 |
|
37 |
|
0.325% |
| 02/15/08 |
|
38 |
|
0.333% | |
|
| Date |
|
No. Days
Attended |
|
Percentage Days Attended |
| 02/16/08 |
|
39 |
|
0.342% |
| 02/17/08 |
|
40 |
|
0.351% |
| 02/18/08 |
|
41 |
|
0.360% |
| 02/19/08 |
|
42 |
|
0.368% |
| 02/20/08 |
|
43 |
|
0.377% |
| 02/21/08 |
|
44 |
|
0.386% |
| 02/22/08 |
|
45 |
|
0.395% |
| 02/23/08 |
|
46 |
|
0.404% |
| 02/24/08 |
|
47 |
|
0.412% |
| 02/25/08 |
|
48 |
|
0.421% |
| 02/26/08 |
|
49 |
|
0.430% |
| 02/27/08 |
|
50 |
|
0.439% |
| 02/28/08 |
|
51 |
|
0.447% |
| 02/29/08 |
|
52 |
|
0.456% |
| 03/10/08 |
|
53 |
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0.465% |
| 03/11/08 |
|
54 |
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0.474% |
| 03/12/08 |
|
55 |
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0.482% |
| 03/13/08 |
|
56 |
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0.491% |
| 03/14/08 |
|
57 |
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0.500% |
| 03/15/08 |
|
58 |
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0.509% |
| 03/16/08 |
|
59 |
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0.518% |
| 03/17/08 |
|
60 |
|
0.526% |
| 03/18/08 |
|
61 |
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0.535% |
| 03/19/08 |
|
62 |
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0.544% |
| 03/20/08 |
|
63 |
|
0.553% |
| 03/25/08 |
|
64 |
|
0.561% |
| 03/26/08 |
|
65 |
|
0.570% |
| 03/27/08 |
|
66 |
|
0.579% |
| 03/28/08 |
|
67 |
|
0.588% |
| 03/29/08 |
|
68 |
|
0.596% |
| 03/30/08 |
|
69 |
|
60%=100% |
| 03/31/08 |
|
70 |
|
100% |
| 04/01/08 |
|
71 |
|
100% |
| 04/02/08 |
|
72 |
|
100% |
| 04/03/08 |
|
73 |
|
100% |
| 04/04/08 |
|
74 |
|
100% |
| 04/05/08 |
|
75 |
|
100% |
| 04/06/08 |
|
76 |
|
100% | |
|
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Date |
|
No. Days
Attended |
|
Percentage Days Attended |
| 04/07/08 |
|
77 |
|
100% |
| 04/08/08 |
|
78 |
|
100% |
| 04/09/08 |
|
79 |
|
100% |
| 04/10/08 |
|
80 |
|
100% |
| 04/11/08 |
|
81 |
|
100% |
| 04/12/08 |
|
82 |
|
100% |
| 04/13/08 |
|
83 |
|
100% |
| 04/14/08 |
|
84 |
|
100% |
| 04/15/08 |
|
85 |
|
100% |
| 04/16/08 |
|
86 |
|
100% |
| 04/17/08 |
|
87 |
|
100% |
| 04/18/08 |
|
88 |
|
100% |
| 04/19/08 |
|
89 |
|
100% |
| 04/20/08 |
|
90 |
|
100% |
| 04/21/08 |
|
91 |
|
100% |
| 04/22/08 |
|
92 |
|
100% |
| 04/23/08 |
|
93 |
|
100% |
| 04/24/08 |
|
94 |
|
100% |
| 04/25/08 |
|
95 |
|
100% |
| 04/26/08 |
|
96 |
|
100% |
| 04/27/08 |
|
97 |
|
100% |
| 04/28/08 |
|
98 |
|
100% |
| 04/29/08 |
|
99 |
|
100% |
| 04/30/08 |
|
100 |
|
100% |
| 05/01/08 |
|
101 |
|
100% |
| 05/02/08 |
|
102 |
|
100% | |
The day of withdrawal is considered a day attended.
**If 60 percent or less, use the actual percentage; if 60 percent or more, use 100 percent.
*Percentage of term completed is an estimate, actual percentage will be based on return to Title IV calculation of financial assistance.
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