Refunds
Withdrawal from College
Refunds are made each term to undergraduate students only on the written application of the withdrawing student according to the following schedule: 85% tuition refund to the end of the first week of class; 80% tuition refund to the end of the second week of class; 75% tuition refund to the end of the fourth week of class.
The Dewar Tuition Refund Plan is an insurance program offered to traditional undergraduate students which will minimize financial loss should withdrawal occur after the fourth week of the term. The Tuition Refund Plan extends and enhances the College's published refund policy and protects the student's educational investment by reimbursing 75% of tuition, room and board charges in case the student is forced to withdraw due to a serious personal illness or accident and 75% if the student withdraws due to a mental/nervous disorder. Participation is completely voluntary and is only offered to traditional undergraduate students. If interested, applications must be submitted before the first day of the term. Look for a mailing in July with more information or go to http://www.collegerefund.com.
Refund of Overpayment
Refunds will only be issued on credit balances, not anticipated or pending aid. Refunds of overpayment may be requested in person or in writing to the Business Office. Once the academic term begins, refunds will be available every Friday for all valid requests received the previous Wednesday. Refunds will not be processed prior to the beginning of the term. Students have the option to pick up their refund or have it mailed to the address on file. ***During the first two weeks of each semester, refunds are held for pick up in the Business Office. Any check not picked up within the first two weeks of each semester will automatically be mailed to the address on file.***
Loan refunds will be made after crediting financial aid funds students have accepted against initial charges to the student's billing account including, but not limited to, tuition, mandatory fees, room and board, course material fees, etc. and the remaining balance (if any) will thereafter be refunded to the student. The credit balance refunded after deduction of the initial charges on a student's billing account may not reflect additional and subsequent charges and fees that may be incurred AFTER receiving a refund of the net balance. The refund of the remaining credit balance is not intended as a final accounting of all charges incurred and any additional charges not deducted from the financial aid funds and not reflected in the balance refunded must be timely paid.
If a credit on the student account is due to a parent PLUS loan disbursement, the refund will be payable to the parent borrower.
If the student is no longer eligible to receive financial aid or student loans, his/her account will be adjusted accordingly. Any refund received for these funds must be reimbursed to Saint Mary's College IMMEDIATELY.
Third party or Special Billing
Special Billing is available to students whose employers or other outside agencies pay their tuition and/or fees and expenses directly to Saint Mary's College. Students whose company or agency reimburse them directly are NOT eligible for Special Billing.
Refunds of third party or special billing will be issued AFTER the funds have been received by Saint Mary's College. No refunds will be advanced to students until the funds are received by Saint Mary's College, applied to the student account, and a credit balance, if any, occurs.
