University of Virginia Library

APPROVAL OF POLICY REVISION: POLICY ON REFUND TUITION, FEES AND ROOM AND BOARD CHARGES

The following resolution was adopted:

• WHEREAS, the original Policy on Refund Tuition, Fees and Room and Board Charges was approved by the Board of Visitors on June 5, 1981;
• WHEREAS, a policy revision was approved on June 5, 1993
• WHEREAS, the Ad Hoc Committee on Policy Reform has examined the above-mentioned Policy on Refund Tuition, Fees and Room and Board Charges mentioned above for accuracy and applicability and has determined that it requires substantive changes;
• WHEREAS, on April 12, 1997, the Ad Hoc Committee on Policy Reform referred the policy to the Finance Committee for review and revision; and
• WHEREAS, the current Policy on Refund Tuition, Fees and Room and Board Charges does not include federal regulations passed in 1993;
• RESOLVED that the current Policy on Refund Tuition, Fees and Room and Board Charges be updated and superseded as follows:

UNIVERSITY OF VIRGINIA
Policy on Refund of Tuition, Fees and Room and Board Charges

Depending upon a student's status, one of three refund schedules for the refund of tuition, fees and room and board applies. The schedules (Institutional Refund Schedule, Federal Refund Schedule and Pro Rata Refund Schedule) ensure compliance with all federal regulations regarding Title IV federal financial aid.

In the event a student withdraws from the University and that individual is NOT a first-time student, the student will always receive the greater refund between the Institutional Refund Schedule and the Federal Refund Schedule.

Institutional Refund Schedule: Tuition and fees will be charged on a percentage basis, based on the school week during which the student withdraws. A school week is defined as the period beginning on Monday and ending on the succeeding Sunday. The first school week of a semester ("term") is defined as the week during which the general University Final Registration ends.

The schedule for allocation of Tuition and Required Fees between amounts retained and amounts refunded is as follows:

        

School Week	Percentage Retained	Percentage Refunded
1	20	80
2	20	80
3	30	70
4	40	60
5	50	50
6	60	40
After 6	100	0

Federal Refund Schedule: Any student receiving Title IV Federal Funds is subject to a federal refund schedule. Details of the required calculations are complex and available in either the Bursar's Office or the Office of Financial Aid to Students.

Again, the student is entitled, by law, either to the amount calculated by the Federal Refund Schedule or the Institutional Refund Schedule, whichever is greater.

Please note that before a refund is calculated under either method, the University is authorized first to offset it against any other amounts owed to the University.

Application of the Institutional Refund Schedule and the Federal Refund Schedule pertains only to tuition and fees. Room and board refunds are calculated separately, since the student signs a detailed contract for each.

In the event a student withdraws from the University and the student is a first-time student, the student's refund will be calculated according to the Pro Rata Refund Schedule, unless one of the other schedules provides a larger refund.

Pro Rata Refund Policy: A student who is attending the University for the first time (undergraduate, graduate or transfer); who is receiving Title IV financial aid; and who withdraws completely from the University will be eligible for a pro rata refund as follows: applicable tuition, fees and room and board charges will be pro-rated on a weekly basis for the first 60 percent of the semester. The Bursar's Office may deduct an administrative fee of $100, or five percent, of the applicable charges, whichever is less, before processing the refund. The actual percentage charged to the student in a given semester is determined by the last recorded date of attendance, as a percentage of the number of academic weeks within the semester. After 60 percent of the semester has passed, no refunds will be granted.