Refund Policy for Withdrawal or Leave of Absence
Any student wishing to withdraw permanently or take a temporary leave of absence from the College must meet with the Office of Academic Advising and complete the proper paperwork. Tuition will be refunded based on the last date of attendance.
Students' security deposits and any housing deposits will be refunded within 90 days of withdrawal. The security and/or room damage deposits of students who have taken a leave of absence will remain in their accounts for usage upon their return.
If a student must withdraw from the College, tuition refunds are based upon the number of weeks that have elapsed between the first day of the semester and the last day of attendance:
| Time of Withdrawal | Refund |
|---|---|
| First Week of Classes | 100% |
| Second Week of Classes | 80% |
| Third/Fourth Week of Classes | 40% |
| After the Fourth Week | None |
If a student enrolled in the Master of Arts in Community Art, Summer Master of Arts in Art Education, or the Summer Master of Fine Arts in Studio Art and must withdraw from the College, tuition refunds are based upon the number of weeks that have elapsed between the first day of the semester and the last day of attendance:
| Time of Withdrawal | Refund |
|---|---|
| First Week of Classes | 100% |
| Second Week of Classes | 50% |
| After the Second Week | None |
Refund amounts of federal aid are set by federal guidelines. Refunds will be distributed among the Federal Family Educational Loan Programs, the Federal Perkins Loan Program, the Federal Pell Grant Programs, the Federal Supplemental Educational Opportunity Grant Program, and other financial aid programs.
Recipients of federal financial aid loans and/or grant programs who withdraw within 60 percent of the start of the semester will be required to return all or a portion of Title IV funds to the federal government according to federal regulations. The required calculation of the return of these funds may result in the student owing a balance to MICA and/or the federal government. Specific information may be obtained in the Financial Aid Office.
Refund from Financial Aid
If the proceeds from student loans have been received by MICA prior by the start of the semester and the student is eligible for a refund, the Office of Student Account Services will automatically begin processing refunds two weeks into the semester. Federal regulations require MICA to process refunds within 14 calendar days from the first day of class. If loans are received after the first day of class, please allow 14 days from the date the proceeds are applied to the tuition account for a refund to be mailed. In order to receive a refund by Friday, a refund request must be received by 5:00 P.M. on Monday of the same week. Refund checks can be picked up at the Office of Student Account Services on that Friday after 2:00 P.M. Checks that have not been picked up within two weeks of that Friday will be mailed to the student's permanent address provided by the Office of Student Records, unless the Office of Student Account Services is notified otherwise. If a check is not received, a replacement refund check will not be issued until three weeks after the original check was mailed. At that time, a stop payment will be requested and a replacement check will be issued.
All refunds, except PLUS loans and the MICA Payment Plan, will be made payable to the student. If the refund is issued by check, the student may request in writing that the refund be sent to another party. Any outstanding debts to the College will be deducted from the credit balance prior to issuing a refund check.
If at any time a credit (financial aid, dropped course, or overpayment) appears on your MICA account as a result of a credit card payment, the refund will be credited back to your credit card up to the amount charged. If any additional credit remains, we will issue a refund check for the student. At any time during the academic year, student/parent borrowers may also make a written request to leave credits on the student account.
Refunds are continuously processed throughout the year as financial aid is applied to student accounts. Students may call or come by the Office of Student Account Services to check on the status of a refund 14 days after funds have been applied to the tuition account. Refunds in the amount of $25 or less will be left on the tuition account and can be transferred to a student's Flex Account upon request.
Refund from Federal Plus Loans
Refunds generated by Federal Parent PLUS loans will be returned to the parent borrower. PLUS refunds follow the same guidelines as other Title IV aid.
Credit Card Refund Policy
If, at any time, a credit (financial aid, dropped course or overpayment) appears on your MICA account, a refund will be issued to the credit card which was used to pay for tuition or room and board expensive. If a credit card payment does not factor into the overpayment, then the refund will be issued by check.
This policy does not apply to flex account and fee payments made by credit card. These refunds will continued to be issued by check.
Refund from TuitionPay
TuitionPay Plan credit can only be refunded to the bill payer of record that is listed on the TuitionPay Plan contract. If the student is the contracted bill payer, then the refund can be given to the student. A student who is not the bill payer can only receive TuitionPay related refunds once written authorization is provided to the school from the contracted bill payer.
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