Cancellation and Refund Policy

For many Stratford students, an important source of funding is the Title IV Student Financial Assistance programs of the United States Department of Education. Participating students that withdraw from the University may have some or all of the funds returned to the Department depending on the amount of time attended during the quarter.

For students that officially withdraw from the University, the institution will use as the withdrawal date for purposes of the return of funds as the earlier of the last documented day of physical attendance or the date of attendance at an academically-related activity, the date when the withdrawal process began, or the date the student provided official notice.

If the institution determines that the student withdrew without beginning the withdrawal process or officially withdrawing, the institution will use the last day of the quarter (or class) as the withdrawal date unless a documented date of attendance at an academically-related activity is deemed more appropriate.

Distribution of Funds

If Title IV funds must be returned in accordance with the federal, state, or institutional policies, the return will be applied to the appropriate program in the following order:

• Federal Unsubsidized Stafford Loans
• Federal Subsidized Stafford Loans
• Federal PLUS Loans
• Federal Pell Grants
• Academic Competitiveness Grants Program
• National SMART Grants Program
• Federal Supplemental Educational Opportunity Grant
• Other grant or loan assistance authorized by Title IV

Students must repay grant overpayment only in the amount that the original grant overpayment exceeds half of the total Title IV grants received by the student for the period. If original overpayment amount is less than half the total Title IV grants received, the student owes zero. Students are not required to repay grant overpayment amounts of $50 or less. Students will be notified of any refunds due to a lender on their behalf through the mailed exit interview material. Refunds of any Title IV will be paid within 45 days from the date of determination.

Notification of Post Withdrawal Disbursements

The student and/or his or her parent/s will be notified in writing by the school in the event of a Title IV Postwithdrawal Disbursements (PWD). A confirmation must be received from the student and/or parent/s within 60 days of receipt of notification to accept or decline a PWD. A confirmed acceptance of PWD must be made within 120 days of the date of determination by the school that the student withdrew.

Return of Additional Funds

After the completion of the required return of Title IV funds, some students may have a credit balance. Any additional credit balances will be repaid to any outstanding loan balances. In the event there are two or more additional lenders, the University may select the lender to pay the refunds. In the event there are no lenders, the refund will be paid to the student.

Virginia State Refund Policy

The University obligates students to tuition and laboratory fees by the academic quarter. If the student withdraws during the add/drop period, the institution refunds 100% of the tuition and laboratory charges. If the student withdraws after the add/drop period, the institution follows the state refund policy in accordance with 23-276.3 B of the Code of Virginia as follows:

• A student who enters school but withdraws during the first 1/4 (25%) of the course is entitled to receive a refund of 50% of the tuition and laboratory fees.
• A student who enters a school but withdraws after completing 1/4 (25%), but less than 1/2 (50%) of the course is entitled to receive a refund of 25% of the tuition and laboratory fees.
• A student who withdraws after completing 1/2 (50%) or more of the course is not entitled to a refund.

If the University determines that the student withdrew without submitting a signed withdrawal form to the Registrar, the institution will use the last day of the quarter, the last day of the class, or the date of discovery, whichever is earlier, to determine the refund. Attendance will be taken during the first two and last two class sessions to establish the date of discovery.