Refunds & Repayment

Students who withdraw from Cambridge College or take a leave of absence after having paid the current term charges or receiving financial aid are subject to the following refund and repayment policies.  A Leave of Absence/Withdrawal form must be filed at the Registrar’s Office before leaving the College.

Federal guidelines mandate that tuition, fees, and other related charges are prorated based upon each student’s enrollment status. Tuition and fees may be refunded. No other charges are refundable.

College Refund Policy

Students not receiving Title IV financial aid or state scholarship monies are eligible for refund of current term charges based on the date of withdrawal, with the following refund values:

• Before add/drop deadline (within first two weeks of term) - 100% refund
• During third week of term - 75% refund
• During fourth week of term - 50% refund
• During fifth week of term - 25% refund
• Thereafter - 0% refund

Title IV and state scholarship recipients are subject to different refund/repayment calculations (see below).

Date of Withdrawal from Intensive Courses and Refund value

• Prior to beginning of term - 100% refund
• During and after week one - 75% refund
• During and after week two - 25% refund
• After course starts - 0% refund

Repayment of Federal Funds

Students receiving federal financial aid, who withdraw from the College or stop attending all classes during a term before more than 60% of the term has elapsed, are subject to specific federal regulations.

The amount of Title IV aid that you must repay is determined by the federal formula for return of Title IV funds as specified in Section 484B of the Higher Education Act.

The amount of Title IV aid that you earned during the term before you withdrew is calculated by multiplying the total aid for which you qualified by the percentage of time in the term that you were enrolled (college work-study not included).

Your disbursement or repayment owed:

• If less aid was disbursed to you than you earned, you may receive a late disbursement for the difference.
• If more aid was disbursed to you than you earned, you will be billed for the amount you owe to the Title IV programs and any amount due to the College resulting from the return of Title IV funds used to cover College charges.

Cambridge College will return the unearned aid to the Title IV programs as specified by law:

• Unsubsidized federal loans
• Subsidized federal loans
• Federal Perkins loans
• Federal PLUS loans
• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grants (SEOG)

Location Specific Refund Policies

Refund Policy - Massachusetts

Students who have received financial aid from the Commonwealth of Massachusetts are subject to the following repayment/refund policy.

The amount of aid you earned during the term before you withdrew is calculated by applying the federal formula for return of Title IV funds:

• If you also received federal Title IV aid this term, then the percentage of Massachusetts aid earned is the same as the percentage of Title IV aid earned.
• If you did not receive Title IV funds, the College shall use the federal formula for return of Title IV funds to determine the percentage of Massachusetts aid earned.

The following are then applied to your tuition fees:

• The amount of state and federal aid earned (see above).
• All other sources of financial aid.
• All scheduled cash payments.
• The unearned portion of state financial aid.
• The result is your remaining unpaid balance of tuition charges and mandatory fees.

Note: the College cannot make any unauthorized post-withdrawal award and/or disbursement of state financial aid to cover this balance.

Your disbursement or repayment owed:

• If the remaining balance is greater than or equal to the unearned state aid, then additional state aid can be “earned” by a student that equals 100% of unearned state aid.
• If unearned state aid is greater than the unpaid balance, then additional earned state aid has to be equal to the value of the remaining balance.

You will be billed for any amount you owe to Massachusetts financial aid programs and any amount due to the College resulting from the return of Massachusetts funds used to cover College charges.

Cambridge College will distribute the remainder of unearned state aid back to Massachusetts financial aid programs as specified by law.

1. Tuition waiver (need based and categorical)
2. Massachusetts No Interest Loan
3. Tomorrow’s Teachers Scholarship
4. Commonwealth Futures Grant
5. General Scholarship (Mass Grant)
6. Performance Bonus
7. Christian Herter Memorial Scholarship
8. Gilbert Grant
9. Public Service Scholarship
10. Cash Grant (Access Grant Scholarship)
11. Part Time Grant

Refund Policy — Virginia

Cambridge College operates three terms/year, each term not exceeding 4.5 calendar months. For Virginia-based students, Cambridge College will follow the regulations as stated in the Virginia Administration Code Regulations 8 VAC 40-31-160(M)(6).

Based on the date of withdrawal, students are entitled to the following refund rates:

• Before add/drop deadline (within first two weeks of term)
  or before course start - 100%
• During the first ¼ (25%) of term - 50%
• After completing ¼ (25%), but less than ½ (50%) of term - 25%
• After completing ½ (50%), or more of term - 0%