From: Savage, Glenn E. (savageg@exchange.winthrop.edu)
Date: Tue Mar 20 2001 - 17:32:26 EST
At Winthrop University, our fee adjustment policy was not changed when the
new Title IV refund regulations became law. We felt we needed to be
consistent with all students with respect to academic adjustments resulting
from withdrawing. Our policy prorates academic charges for the first 28
calendar days of the semester (100% reduction in academic fees the first
week; 75% the second week, 50% the third week, 25% the fourth week). After
28 days, there is no adjustment to academic charges. To penalize the "full
pay" students who were charged based on their withdrawal date and not treat
the Title IV students the same way seemed unfair.
To insure students understand the financial ramifications of their
withdrawal, students receiving Title IV funds are counseled by the
Registration Office, the Financial Aid Office and the Business Office when
they submit their paperwork to completely withdraw. At that time, we
estimate any balance due as a result of returning Title IV funds and set up
repayment terms.
Glenn Savage, CPA
Assistant Controller
Winthrop University
Phone: 803-323-2165
FAX: 803-323-2355
e-mail: savageg@winthrop.edu
-----Original Message-----
From: Collier, Robert B [mailto:collier@marshall.edu]
Sent: Tuesday, March 20, 2001 3:34 PM
To: bursar-l@virginia.edu
Subject: Return of Title IV Aid
I would be interested in how many schools are billing the withdrawn student
for the additional percentage of returned aid above their institution's
refund policy. These are the funds the institution is required to return.
For this fiscal year Marshall made the decision not to bill the student for
the additional percentage. Please support your institution's decision with
the reason(s) why.
Thank you in advance,
Bob
Robert B. Collier
Manager of Student Accounts
Marshall University
collier@marshall.edu
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