Financial Aid Policies

Withdrawals / Refunds

If a student withdraws Tuition & Fees Charged Tuition & Fees Refunded
Before freeze date 0%  100%
After freeze date 100% 0%

 

Room and Board charges may be prorated.

Students who discontinue class attendance without officially notifying the Registrar during the refund period will be responsible for the full amount of tuition.

Students must complete in writing an add/drop form (available from your advisor) and submit it to the Registrar’s Office. Mere cessation of attendance does not constitute official withdrawal and may also have an adverse effect on any financial aid received. Federal regulations require the Office of Financial Aid to apply a formula established by the U.S. Department of Education to determine the amount of Federal financial aid a Student may have earned as of the date the student begins the withdrawal process. The amount of Federal financial aid returned to federal aid programs is determined by the amount of time the Student spent in academic attendance, but has no relationship to the institutional charges incurred by the Student. Students who stop attending classes may be reported for failure to attend at the end of the semester; the last date of attendance is used to determine the amount of money that needs to be returned. This becomes a debt to Lourdes University, which will be forwarded to a collection agency if satisfactory payment arrangements are not made with the Student Accounts Office.

Please consult with an advisor in the Office of Financial Aid before you officially change your enrollment status or withdraw from the College, as your financial aid may be impacted by any status changes.

Freeze Date Information

Fall 2023: September 1st

Spring 2024: Jan 22nd

Summer 2024: May 17th

  • Summer Session and Accelerated Schedule refund information is available in the Student Accounts Office.
  • Verification of Drop/Withdrawal must be on file in the Registrar’s Office. Contact your advisor or the Registrar for proper procedure to follow.
  • Information regarding the federal government’s policy for Return of Title IV Federal Student Aid (if applicable) is available in the Student Accounts Office. If you have questions or wish to receive a copy of the Title IV refund policy, the Student Accounts Office can be reached at (419) 824-3696 or (800) 878-3210, ext. 3696.

Disbursement of Aid

Disbursement of Financial Aid, with the exception of loans, is made to a student’s account following the freeze date. If a student’s aid exceeds the charges for the semester, a credit balance occurs. If Federal Student Aid disbursements to a student’s account result in a credit balance, all credit balances will be paid directly to the student or parent as soon as possible but no later than 14 days after the balance occurs. All refunds are issued by check unless the student has enrolled in Direct Deposit. Direct Deposit forms are available in the Student Accounts office.

Paying for Your Education

Lourdes University offers three payment options. Students must complete one of these three payment options by the first day of class:

  • Have enough financial aid posted and accepted to cover billed charges.
  • Payment in full of any outstanding balance after aid is applied.
  • Enroll in a payment plan.

Payment Plans

There are two Lourdes Payment Plan options.

  • Annual payment plan – Divides outstanding account balance for academic year into 10 monthly payments. The first payment is due by the first day of fall classes.
  • Semester payment plan – Divides outstanding account balance for semester into 5 monthly payments. The first payment is due by the first day of the semester.

Click to learn about Lourdes Payment Plan Options

Return of Title IV Aid (R2T4) Policy

Satisfactory Academic Progress Policy

Special Conditions Appeal

In some instances the information you are required to report on your FAFSA, such as your previous year’s income, does not accurately reflect your current financial situation.  The Department of Education allows a school to take these changes into consideration through a process called a special conditions (or special circumstances).

Below are a few common examples for which a special conditions appeal may be considered:

  • Change in employment status (student or parent)
  • Medical Expenses not covered by insurance
  • Change in parent marital status
  • Unusual dependent care expenses
  • Student is unable to obtain parent information for the FAFSA

This is not a complete list.  If you think you may have cause for a special conditions appeal, please contact the Lourdes FAO (Financial Aid Office).

  • Every special conditions appeal has certain general requirements.  They are outlined below.
  • Letter of request stating why you would like a special conditions appeal to be processed
  • Verification documentation
  • Additional documents that support your case for a special conditions appeal.  The Financial Aid Office will inform you of what information they will require.

The University is responsible for reviewing and approving/denying special conditions appeals.  The decision made by the University is not appealable to the Department of Education.

If you would like more information about special conditions appeals please contact the Financial Aid Office.

Dependency Override Appeal

The Higher Education Act allows a financial aid administrator to make dependency overrides on a case-by-case basis for students with unusual circumstances. According to the U.S. Department of Education, unusual circumstances can include:  an abusive family environment, (such as drugs, alcohol, or violence), or abandonment by parents.  It is our policy to make an adjustment of a student’s dependency status in only extreme situations. The basic premise of federal financial aid is that the student and family have the primary obligation to finance a college education.  Lourdes University supports this premise and the current federal definition of a dependent student.

The University is responsible for reviewing and approving/denying dependency override appeals.  The decision made by the University is not appealable to the Department of Education.

If you would like more information about dependency override appeals, please contact the Financial Aid Office.

Student Loan Code of Conduct

Description listed under FAQ section on Loans page

 

For more information on Financial Aid Policies and Procedures see the FAQ page.