Loyola University Maryland

Records Office

Refund Policies

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Refund Policy (Tuition Only)

When official withdrawal is granted and has been properly approved, a refund of tuition will be made according to the schedules below. The date that determines the amount of refund is the date on which a written petition for official withdrawal from a course or courses is received by the department chair or appropriate administrator.

Per Credit

For students enrolled in programs where tuition is paid on a per credit basis (excluding Montessori):

Fall/Spring Semesters

  • 100% prior to second meeting
  • 80% prior to third meeting
  • 60% prior to fourth meeting
  • 40% prior to fifth meeting
  • 20% prior to sixth meeting

Summer Sessions

  • 100% prior to second meeting
  • 60% prior to fourth meeting
  • 20% prior to sixth meeting

Subsequently, no refund is made.

Flat Rate

For students enrolled in programs with a flat rate tuition and all Montessori students in full-time academic year programs:

Fall/Spring Semesters

  • 100% prior to first class meeting
  • 80% prior to second week of class
  • 60% prior to third week of class
  • 40% prior to fourth week of class
  • 20% prior to fifth week of class

Subsequently, no refund is made.

Federal Return of Title IV Funds Policy

The Financial Aid Office is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term. Federal Title IV financial aid awards must be recalculated in these situations.

If a student leaves the institution prior to completing 60 percent of a payment period or term, the Financial Aid Office recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula: percentage of payment period or term completed equals the number of days completed up to the withdrawal date, divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) This percentage is also the percentage of earned aid.

Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: aid to be returned equals 100 percent of the aid that could be disbursed, minus the percentage of earned aid, multiplied by the total amount of aid that could have been disbursed during the payment period or term.

If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds, and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution.

If a student earned more aid than was disbursed, the institution would owe the student a post-withdrawal disbursement which must be paid within 180 days of the student's withdrawal. The institution must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student's withdrawal. Refunds are allocated in the following order: Direct Unsubsidized Stafford Loans; Federal Direct Graduate PLUS Loans; Federal TEACH Grants for which a return of funds is required; other assistance under this Title for which a return of funds is required.