Refunds & Cost Adjustments
Students can now have their credit balance refunds issued electronically.
- Student Accounts evaluates and refunds credit balances on a regular basis. Refund checks are typically available 7–10 business days after a credit balance is created.
- 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 ready for pick up, notification will be sent to the KSC email account.
- 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 credit balance until the student’s payment plan has been fully paid.
- If a student’s financial aid exceeds the balance due on the payment plan, it is the student’s responsibility to contact the payment plan servicer and reduce the plan amount if they choose.
- 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.
Students who change their course load or 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, with the exception of mandatory fees, based on the College’s Policy (below). There is no adjustment of Mandatory Fees after the semester begins.
- Course load definition: 12–20 credits is full–time; 11 credits or less is part–time.
- Cost adjustments may or may not result in a refund.
- 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.
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:
- 75% within 7 calendar days of the first day of the semester.
- 50% within 8–30 calendar days after the first day of the semester.
- No adjustment beyond 30 days after the beginning of the semester.
- 75% within 3 calendar days of the first class.
- 50% within 4–14 calendar days of the first class.
- No adjustment beyond 14 days after the beginning of the semester.
- 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 Aid
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 percentage of the semester that a student remains enrolled is derived by dividing the number of days that a student remains in attendance by the number of days in a semester.
Refund of federal financial aid will be based on the date a student completely withdraws from the College as described above. During the first 60% of the semester a student earns federal financial aid funds in direct proportion to the length of time that he or she remained enrolled. A student who remains enrolled beyond the 60% point earns all aid for the semester.
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 financial aid programs.