refund & return of federal funds

Refund Policy

A student who completely withdraws from the college during the fall or spring term will be assessed tuition on the following schedule:

Return of Federal Funds Policy

A federal financial aid recipient who completely withdraws from the College prior to the 60% point of a term are subject to the Federal Return of Title IV Funds refund calculation. The types of assistance included under this policy are the Federal Pell Grant, Federal SEOG, Federal Stafford Loans, and the Federal PLUS Loan. The College must calculate the amount of unearned Title IV funds to be returned to the appropriate federal aid programs. The College and t he student are responsible for repaying the balance of unearned aid as determined by this policy.

The percentage of Title IV aid earned equals the portion of the period completed in calendar days divided by the length of the term, also in calendar days. The amount of the funds earned equals the percentage earned multiplied by the funds disbursed. The percentage of the federal funds unearned equals 100% less the percent earned. The amount of Title IV funds unearned equals the difference between the federal aid disbursed and the amount of federal aid earned.

Because the institutional refund policy follows a different formula for reducing tuition and fees, students may owe money to the college after all the calculations are complete. Students considering withdrawal are encouraged to visit the Financial Aid Office to simulate withdrawing from the college.

Withdrawal Date

The withdrawal date is determined at the time a student completes an official CVA withdrawal form or otherwise notifies the College in writing of the intent to withdraw. Should a student fail to notify the College of the withdrawal, the withdrawal date is considered to be the midpoint of the term or the last date of participation in any academically related activity.

Processing Funds

Any monies due to students are refunded within 30 days from cancellation or failure to appear on or before the first day of class. Any monies due the student are refunded within 30 days of the earliest of:

• The date the student notifies the College of his or her withdrawal or the withdrawal date specified by the student, whichever is later.
• The date the College determines that the student has withdrawn; 
• The last day of the semester in which the student withdrew.

All refunds are subject to deductions for books due to the library and other outstanding charges owed to the College.

Temination Date

The termination date for a student is the day the student completes an official College of Visual Arts withdrawal form or otherwise notifies the College, in writing, of his/her intent to withdraw. If a student does not notify the College of his/her intent to withdraw the termination date will be considered to be the midpoint of the term. If the College determines that a student did not begin the withdrawal process or otherwise notified the College of the intent to withdraw due to illness, accident, grievous personal loss, or other circumstances beyond the student's control, the College may determine the appropriate withdrawal date.

Exit Interview

Students who received financial aid and who withdraw must schedule an exit interview with the Financial Aid Office.

Refund policy for non-enrolled students

Rejection: An applicant rejected by the College is entitled to a refund of all monies paid minus any stated application fee not to exceed $40.

Three-Day Cancellation: All monies paid by an accepted student are refunded (minus any stated application fee not to exceed $40) if requested within three days of making an initial payment of tuition.

Other Cancellation: Students who have not visited the college facility prior to enrollment will have the opportunity to withdraw without penalty within three days following either attendance of a regularly scheduled orientation or following a tour of the college facilities.