Withdrawals and Refunds
Any student wishing to withdraw from all classes prior to the start of the term should notify the school immediately by completing an online drop form which is routed to the Dean of Academics. Students who withdraw during the add/drop period will receive a full refund of tuition and fees if they have completed the drop form.
A withdraw becomes official on the last date the student attended classes. In addition, a student can cancel any obligation within three (3) working days from the date of signing the enrollment agreement or contract. Refunds for students who do not receive federal financial aid will be processed within 30 calendar days from the official date of withdrawal. Refunds for students who recieve federal financial aid will be processed as described below.
If a student withdraws (including transfers and leaves of absence) after the add/drop date, the student still has the obligation to pay Florida Coastal for any balances on the account except for the following circumstances.
- If a student withdraws before completing 20% of the semester, a 20% refund of tuition and fees may be granted, based on tuition and fees only (seat deposits are non-refundable), due to:
- an incapacitating illness of such duration or severity, as confirmed in writing by a physician, that the completion of the semester is impossible;
- the student’s call to active military duty; or
- the death of the student or a member of the student’s immediate family (parent, spouse, child, sibling).
- If a student withdraws after completing 20% of the semester, there will be no refund or credit of tuition and/or fees under any circumstances.
Order of Refunds for Students with Financial Aid
Refunds due to students who are receiving Student Financial Assistance funds will be made in the following order:
1. Unsubsidized Federal Stafford Loans
2. Other Assistance Awarded by Title IV of the HEA
3. Other Federal, State, Private or Institutional Assistance
4. The Student
Federal Policy for Return of Title IV Aid
For qualified students who receive federal financial aid and who withdraw (including transfers and leaves of absence) from ALL classes on or before 60% of the term has elapsed, Florida Coastal will calculate, according to federal regulations, any amounts disbursed that must be returned to the Title IV programs.
Step 1: Determine the percentage of the enrollment period the student attended before withdrawing (days attended divided by total days in the period).
Step 2: Determine the amount of Title IV aid earned by multiplying the total Title IV aid for which the student was awarded by the percentage of time enrolled.
Step 3: Compare the amount earned to the amount disbursed. If more aid was disbursed than earned, determine the amount of Title IV aid that must be returned by subtracting the earned amount from the disbursed amount.
Step 4: Allocate the responsibility for returning unearned aid between the school and the student according to the portion of disbursed aid that could have been used to cover institutional charges and the portion of aid that could have been disbursed directly to the student once the institutional charges were covered.
Step 5: Distribute the unearned funds back to the appropriate Title IV program.
Students will be billed for any amount due to Florida Coastal as a result of Title IV funds that were returned that would have been used to cover Florida Coastal charges.
Step 6: If a student was eligible to receive a disbursement but did not prior to exiting and is still eligible for some portion of that aid, it is called a post withdrawal disbursement. The School must offer the post withdrawal disbursement to the student within 30 days of determining the student withdrew. The notification will include the amount of the disbursement and the fund source for which the student is eligible to receive the funds. The student must notify Florida Coastal if they wish to accept or decline the disbursement. Final disposition of the post withdrawal disbursement must take place within 180 days of last date of attendance to be considered eligible.