Disbursement & Stipend Policy

Tuition Refund Policy

Application Cancellation

The prospective student may cancel the enrollment agreement within 72 hours (until midnight of the third day excluding Saturday, Sunday, and legal holidays) after the agreement is signed. Notice of cancellation must be in writing and received or postmarked before the end of the 72 hour period. Any advanced tuition will be refunded.

Application Not Accepted

If the student is not accepted, all advanced tuition and the application fee shall be refunded.

Cancellation Prior to Registration

If the student is accepted, but cancels before registration, all advanced tuition shall be refunded.

Cancellation Prior to Commencement of Classes

If the student is accepted and registers for classes but fails to attend class, all advanced tuition shall be refunded. However, the application fee shall not be refunded.

Drop/Add Period

The Drop/Add Period for Start I of a term begins the first day of the term and ends after seven calendar days. The Drop/Add Period for Start II of a term begins the first day of the term and ends after three calendar days. Continuing students not attending classes during the Drop/Add Period risk being withdrawn from the College after the Drop/Add Period. In the event the student fails to attend the first two scheduled class meetings, the student may be administratively unregistered from the class(s) unless an exception is granted by the College. Please refer to the Academic Calendar for Drop/Add deadlines.

Institutional Refund Policy

Refunds will be determined by the schedules below. No refund will be given upon withdrawal from individual courses after the drop/add period.

Percentage of tuition owed by the Start I withdrawing student*

First Week 10%
Second Week 50%
Third Week 50%
Fourth Week 75%
Fifth Week 75%
Sixth Week 75%
Seventh Week 100%

Percentage of tuition owed by the Start II withdrawing student*

First Week 50%
Second Week 75%
Third Week 75%
Fourth Week 100%

Daymar College is required to calculate refunds for Indiana residents using the Indiana Commission on Proprietary Education’s Uniform Refund Policy. See the Campus Director for a copy of this Refund Policy. All institutions participating in the U.S. Department of Education Student Financial Aid Programs (SFA) are required to use a statutory schedule to determine the amount of SFA Program funds a student has earned when he or she ceases attendance based on the period the student was in attendance. The Higher Education Act of 1998, as amended, in general, requires that if a recipient of SFA Program assistance withdraws from the College during a payment period or a period of enrollment in which the recipient began attendance, the College must calculate the amount of SFA Program assistance the student did not earn and those funds must be returned. Up through the 60% point in each payment period or period of enrollment, a pro rata schedule is used to determine how much SFA Program funds the student has earned at the time of withdrawal from the College. After the 60% point in the payment period or period of enrollment, a student has earned 100% of the SFA Program funds. The percentage of the payment period or period of enrollment completed is determined by the total number of calendar days in the payment period or period of enrollment (denominator) for which the assistance is awarded, divided into the number of calendar days completed in that period as of the day the student withdrew (numerator). Scheduled breaks of at least five consecutive days are excluded from the total number of calendar days in a payment period or period of enrollment and the number of calendar days completed in that period. The College must return the lesser of the amount of SFA Program funds that the student does not earn, or the amount of institutional costs that the student incurred for the payment period or period of enrollment multiplied by the percentage of funds that was not earned. The student (or parent, if a Federal PLUS loan) must return or repay, as appropriate, any SFA loan funds in accordance with the terms of the loan as well as the remaining unearned SFA Program grant (not to exceed 50% of the grant) as an overpayment of the grant.