Student refunds and return of financial aid funds
The following procedures will occur if you voluntarily withdraw
from Rose-Hulman.
Institutional Charges
If you voluntarily withdraw from the Institute, you may be
entitled to a pro-rata refund of tuition and room-and-board charges
for that period. The amount returned is based on the percentage of
enrollment completed and is calculated by dividing the number of
calendar days completed by the total number of calendar days in the
quarter. If the calculated percentage exceeds 60%, there will be no
reduction in charges. Student activity fees, residence hall
association fees and laptop administration fees are not refundable.
Overload charges are refundable on the same pro-rata basis as basic
tuition. You are also responsible for any unpaid charges for the
period of enrollment, any unearned financial aid and an
administrative fee of $100.
Return of Title IV Funds
Rose-Hulman is required to return a pro-rata share of any
unearned Federal Title IV funds to the Department of Education.
Federal Title IV financial aid includes Federal Direct Stafford
Loans, Federal Direct PLUS Loans, Federal Perkins Loans, Federal
Supplemental Educational Opportunity Grand (SEOG) and the Federal
Pell Grant. The amount returned is based on the percentage of
enrollment completed and is calculated by dividing the number of
calendar days completed by the total number of calendar days in the
quarter. If this percentage is greater than 60%, the unearned
portion (100% minus the calculated percentage) will be returned to
the Department of Education. The amount returned will show up as a
charge on your account. These funds will be returned in the
following order as prescribed by federal regulations:
- Federal Direct Stafford Loans (Unsubsidized)
- Federal Direct Stafford Loans (Subsidized)
- Federal Perkins Loan
- Federal Direct Parent Loans for Undergraduate Students
(PLUS)
- Federal Pell Grants
- Federal Supplemental Educational Opportunity Grants (SEOG)
- Any other Title IV funds
Return of Institutional and Other Financial Aid
All other forms of financial aid will be returned in a manner
consistent with Federal Title IV regulations. The amount returned
will be based on the percentage of enrollment completed and will be
calculated by dividing the number of calendar days completed by the
number of calendar days in the quarter. If this percentage is
greater than 60%, no financial aid will be returned and you will
retain 100% of this aid to offset expenses. If the percentage is
less than 60%, the unearned portion (100% minus the calculated
percentage) will be returned to each appropriate source of funding.
The amount will show up as a charge on your account.
Change to Part-Time Status During a Term
If you withdraw from a course but continue as a part-time
student (fewer than 12 quarter hours), the tuition refund shall be
the difference between the initial billing and the revised billing
multiplied by the unearned portion of the quarter. Dividing the
number of calendar days completed by the number of calendar days in
the quarter and subtracting this number from 100% will calculate
this percentage. If the calculated percentage is greater than 60%,
you will not be entitled to a reduction in tuition. If you who drop
below half-time during this refund period, you will have all
financial aid removed with the exception of the Federal Pell Grant.
If you continue to be enrolled for at least six credit hours and
are eligible, you may retain a portion of the Federal Supplemental
Educational Opportunity Grant, Federal Direct Stafford Loan,
Federal Direct Parent Loan for Undergraduate Students, State funds
and RHIT institutional funds.