Cost Adjustment Policy
Students who withdraw from the College:
Before the first day of the semester will have their costs adjusted with the exception of non-refundable deposits. After the first day of the semester will have their costs adjusted based on the College’s Policy (below).
Financial aid recipients, including Federal Direct Student and/or Parent PLUS loans, are subject to federally mandated guidelines that must be applied before any money is returned.
Cost adjustments may result in a credit balance refund.
A student who withdraws from the College or changes her or his course load will have their Tuition, Room, and Board (meal plan) costs adjusted as follows:
|Fall/Spring Semester||Summer Semester|
- No adjustment of Mandatory Fees after the semester begins.
- Students who are studying away under the auspices of KSC's Global Education Office's off-campus programs should refer to the acceptance letter or program materials for specific withdrawal and cost adjustment policies regarding their program.
- Students who are suspended or dismissed for disciplinary reasons forfeit their right to any cost adjustments.
Return of Federal Title IV Financial Aid Policy
If a student is receiving federal financial aid (Pell grant, SEOG grant, Perkins loan, Direct Student loan, Direct Parent PLUS loan, and LEAP state grants) and withdraws or takes a leave of absence within 60 percent of the enrollment period, a portion of the awarded federal aid must be returned according to the Higher Education Amendments of 1998.
- The determination of the return of these funds is calculated by the Financial Aid Office normally within 10 business days of the withdrawal or leave-of-absence notification date. The calculation may result in the student owing a balance to the College and/or the federal Title IV financial aid programs.
Credit Balance Refund Policy
- Student Accounts evaluates and refunds account-credit balances on a regular basis. Refund checks are typically available 7–10 business days after a credit balance is created; however, students should not plan on using their refund check to pay for rent for an off-campus residence. We cannot guarantee that a refund check will be ready by a student's rent deadline.
- When a refund check is available for pick up, students will be sent a MyKSC e-mail notification.
- If the student is participating in a semester or year-long payment plan and has also been awarded financial aid, our office will be unable to refund any resulting student-account credit balance until the student's payment plan has been completely paid off.
- In the event that a student's financial aid award exceeds the remaining amount owed for his/her payment plan, it is the student's responsibility to contact the payment plan servicer and reduce the (original) amount of your plan if he/she so chooses.
- Single semester loans will have two disbursements; please plan accordingly.
- Some financial aid programs may not be disbursed until well into the semester, especially for first-time KSC students; please plan accordingly.
- Credit balances cannot be held from one academic year to another. All outstanding credit balances will be refunded to a student in the form of a check.
- Regardless of who remitted the payment to the student account, the refund will be made payable to the student, except for credit balances produced by a PLUS loan.