Refund Policy, Requirements for Withdrawal, and Return of Title IV

Download Refund Policy-Stand Alone-Submitted to NACCAS.docx HERE

Refund Policy

  • For applicants who cancel enrollment or students who withdraw from enrollment a fair and equitable settlement will apply. The following policy will apply to all terminations for any reason, by either party, including student decision, course or program cancellation, or school closure. Any monies due the applicant or students shall be refunded within 45 days of official cancellation or withdrawal.

    1. All fees and payments, except the non-refundable application fee, remitted to the school by a prospective student shall be refunded if the student does not enroll in the school, does not begin the program or course, withdraws prior to the start of the program, or is dismissed prior to the start of the program. Applicants who have not been accepted for admission will be notified via a denial letter and refunded the application fee within 45 days from the date of application submission.

    2. The school shall provide a period of at least three business days, excluding weekends and holidays, during which a student applicant may cancel his enrollment without financial obligation other than the nonrefundable application fee.

    3. Following the period described in section 2 above, a student applicant (who has applied for admission) may cancel, by written notice, his enrollment at any time prior to the first class day of the session for which application was made. When cancellation is requested under these circumstances, the school is required to refund all tuition paid by the student less the nonrefundable application fee. A student applicant will be considered a student as of the first day of classes.

    4. The date of the institution's determination that the student withdrew should be no later than 14 calendar days after the student's last date of attendance as determined by the institution from its attendance records. After 14 calendar days, the institution is expected to have determined whether the student intends to return to classes or to withdraw. In addition, if the student is eventually determined to have withdrawn, the end of the 14-day period begins the timeframe for calculating the refunds. In the event that a written notice is submitted, the effective date of termination shall be the date of the written notice. The school may require that written notice be transmitted via registered or certified mail, or by electronic transmission, or in writing per the Refund Policy in the enrollment contract. The school is required to submit refunds to individuals who have terminated their status as students within 45 days after receipt of a written request or the date the student last attended classes whichever is sooner.

    5. In the case of a prolonged illness or accident, death in the family, or other special circumstances that make attendance impossible or impractical, a leave of absence may be granted to the student if requested in writing by the student or designee. No monetary charges or accumulated absences may be assessed to the student during a leave of absence. A school need not treat a leave of absence as a withdrawal if it is an approved leave of absence.

    6. If a student does not resume attendance at the institution on or before the end of an approved leave of absence, the institution must treat the student as a withdrawal and the date that the leave of absence was approved should be considered the last date of attendance for refund purposes.
    For students who enroll and begin classes but withdraw prior to course completion (after three business days of signing the contract), the following schedule of tuition earned by the school applies. All refunds are based on scheduled hours:

    - Percentage of Program Completed Based on Scheduled Hours

    0.01% to 25%
    25.1% to 49.9%
    50% to 74.9%
    75% and over

    Total Tuition School Shall Receive/Retain

    25% of the cost of the program
    50% of the cost of the program
    75% of the cost of the program
    100% of the cost of the program; Student is not entitled to refund

    Fractions of credit for courses completed shall be determined by dividing the total amount of time required to complete the period or the program by the amount of time the student actually spent in the program or the period, or by the number of correspondence course lessons completed, as described in the contract. Expenses incurred by students for instructional supplies, tools, activities, library, rentals, service charges, deposits, and all other charges are not required to be considered in tuition refund computations when these expenses have been represented separately to the student in the enrollment contract and catalogue, or other documents, prior to enrollment in the course or program. The school shall adopt and adhere to reasonable policies regarding the handling of these expenses when calculating the refund. For students receiving Title IV financial aid, unapproved Leaves of Absence immediately trigger a Return to Title IV calculation and students are withdrawn. When a student is withdrawn under these circumstances, the Last Date of Attendance is considered the withdrawal date and depending on the length of the Leave of Absence, the student could find themselves in repayment of their loans immediately after. I understand that in the event of any dispute arising out of this agreement on services hereunder, the courts of the Circuit Court of the City of Virginia Beach have sole and exclusive venue. I further agree that should the school prevail on any dispute regarding this agreement, the school shall be entitled to recover its attorney’s fees, and if the matter involves collection, 25% of the amount of the outstanding shall be agreed to be reasonable.

    Official Withdrawl Procedures

    Students who withdraw from enrollment will receive a fair and equitable assessment of fees according to the Refund Policy dictated in the Enrollment Contract.

    Official Withdrawal Procedure: If a student wishes to request withdrawal from the program, the student must:
    1. Provide notification to the school via email to finaid@chrysm.org.
    2. Schedule an appointment with Financial Aid Department and/or Chief Financial Officer for completion of withdrawal paperwork. You will be required to:
    a. Submit practical sheets.
    b. Sign off on actual hours completed.
    ​ c. Review and sign withdrawal balance/refund calculation (for calculation purposes: the date of withdrawal is the last date of attendance; the date of determination of withdrawal is the date the student notified the school of withdrawal)
    d. Pay balance owed (if applicable)
    e. Complete student loan exit counseling (if applicable).
    3. If student is owed a refund, the refund will be issued within 45 days from the date of determination of withdrawal. Student may contact Sherry Jansen, Chief Financial Officer at sjanse@chrysm.org for status update on refund check. If refund check is issued, student must sign acknowledgement of Refund Receipt.

    Per the U.S. Department of Education, the date of withdrawal is the student’s last date of attendance in all withdrawal and refund calculations. The date of determination the earlier of the dates that: the student notifies the school in person; written notification, the date said notification is delivered to the school in person, the date of termination by the school OR; after the student has missed fourteen (14) calendar days; the expiration date of an approved leave of absence.

    ​Students who withdraw prior to completion of the course, and wish to re-enroll will return in the same satisfactory academic progress status as of the time of withdrawal. See the Admissions Policy for more information on returning after withdrawal. See Refund Policy for further details about withdrawal and withdrawal settlements.

    Unofficial Withdrawl

    “D.O.E regulations states 14 consecutive absences without notification of intent to return is considered an unofficial withdrawal”

    Re-Entry Policy

    click here for Re-Entry Policy.

    Return to Title IV (R2T4)

    R2T4 calculations are performed, and funds are returned to the department within forty-five (45) days after determining the student has withdrawn. The postmark on written notification or the date when the student notifies the school whether it be phone, email or in person will determine the "formal cancellation date".

    A withdrawal Record and Settlement Calculation Worksheet will be completed and refunds are calculated. For a student withdrawing from or discontinuing the program prior to completing more than 60% of any payment period, eligibility of the student and/or his/her parent(s) for Federal Aid will be recalculated bases on the percentage of payment period completed.

    The unearned portion of the Federal Aid will be returned to the Department. The eligibility of Federal Aid is calculated as follows :

  • Number of scheduled hours completed by the student in the payment period
  • Total number of scheduled hours in the payment period
  • Payment periods are defined as 0-450, 451-900-901-1250 scheduled hours
  • Total number of scheduled hours in a payment period excludes scheduled breaks of more than five days.
  • Unearned Federal Aid will be returned in the following priority order

  • Federal Stafford Loans (Unsubsidized)
  • Federal Stafford Loans
  • Federal PLUS Loans
  • Federal Pell Grant
  • Following the return of Federal Title IV Funds, the next priorities for refunds are:

  • Other Federal, State, Private, or Institutional Aid, and
  • Student Payments
  • Any Title IV funds that a student has earned but has not yet been disbursed to the student":

  • Grants must be disbursed within forty-five (45) days
  • Loans must be offered to the student within thirty (30) days, allowing the students at least fourteen (14) days to respond to either accept or decline the funds.
  • If the R2T4 calculation results in a credit balance on the student's account, credit balance will be disbursed as soon as possible and no later than fourteen (14) days after calculation of R2T4. If the R2T4 calculation results in an amount to be returned that exceeds the schools portion, the student will be responsible to repay these funds

    All refunds will follow required guidelines. Please note that students are responsible for any balance owed to World A Cuts Barber Institute as a result of the return of Federal Aid.