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LAKE ERIE COLLEGE > ACADEMICS > UNDERGRADUATE CATALOG

FINANCIAL POLICIES

Tuition and Fee Policy

Fees may be calculated by referring to the tuition and fee schedule listed on the website for each semester. Financial refund schedules are published there as well. Be sure to reference this information when making decisions to add or drop classes after the semester begins.

Due to federal regulations, all international students entering the United States on an F-1 Visa are required to prepay their tuition for the entire year before registering for classes. International students are not eligible for time-payment plans. Canadian students are required to pay each semester prior to registering for classes and are not eligible for time-payment plans.

Students who do not meet financial obligations on a timely basis may be removed from their educational program. Re-entry into the program will require payment of a re-matriculation fee equal to the current late registration fee in addition to the regular tuition and fee charges assessed.

The College reserves the right to withdraw a student from his or her academic program, including academic programs abroad, to withhold grades and transcripts, to deny entry to the residence halls and to deny participation in graduation exercises if tuition and fees are not paid on a timely basis. The student may apply for re-admission to the program for following semesters; re-admission will be dependent on proof of financial stability.

Late fees will be charged on all accounts 30 days past due. Charges that remain unpaid will be sent to a third party collection service. At that time, the collection fees, interest charges and legal fees will be added to the balance on the student's account and these accounts will also be reported to the credit bureau.

Refund Policy

If registration is canceled prior to the start of classes, a full refund will be made with the exception of the admissions deposit. The student's account will be credited only after the proper withdrawal forms have been filed with the Registrar and the exit interview is completed. Students must contact the Registrar's Office to officially withdraw from the school.

Refund dates are found on the website each semester. Refer to this information for the financial impact of dropping/withdrawing from classes. Students withdrawing and/or changing status between full-time and part-time should speak with both the Financial Aid and Bursar Offices to be sure they understand the full impact of their decision.

Students who discontinue class attendance without officially completing the withdrawal procedure will be responsible for the full amount of applicable tuition and fees. A student receiving Title IV financial aid who does not officially complete the withdrawal procedure will be required to return 50% of the Title IV funds.

Refunds for withdrawals after the official dates will not be made in cases of inability to attend classes due to changes in business or personal affairs. If extraordinary circumstances require a student to withdraw from classes after the refund period, the student will need to file a Petition for Late Action. Forms are available in the Registrar's Office.

Refunds due to overpayment of tuition and fees will be processed in accordance with Title IV guidelines.

Satisfactory Academic Progress Policy (SAP)

Federal regulations require that schools monitor academic progress of each applicant for federal financial assistance and that the school certify the applicant is making satisfactory academic progress (SAP) toward earning his or her degree. To be eligible to receive financial aid from federal, state and institutional sources at Lake Erie College, students must make satisfactory academic progress in their degree or certificate programs. The measure of SAP is threefold: GPA, maximum timeframe and completion rate. Students who fail to meet the SAP requirements become ineligible to receive financial aid until compliance with these requirements are met.

The Financial Aid Office evaluates SAP after the completion of each semester or term. All terms of enrollment, including summer, must be considered in the determination of SAP including periods in which the student did not receive federal student aid funds.

Students academically dismissed from their academic program will be recognized as failing to meet SAP standards.

The policy and terms described in this SAP policy is for financial aid purposes only and is separate from academic probation policies for academic standing with the college.

SAP Terms

Grade Point Average: (Qualitative Standard)
An undergraduate student must maintain a minimum cumulative GPA of 2.0.

Maximum Timeframe: (Quantitative Standard)
An undergraduate student cannot exceed 150% of the published length of time of the program measured in credit hours attempted. Most undergraduate programs require 128 credit hours for graduation. The maximum time frame for these students is 192 hours (128 x 1.5). Students are normally expected to complete an undergraduate degree by the end of 4 years of full time enrollment. To make this progress, a student would need to take 16 credit hours each semester.

The possibility exists for a student to receive financial aid up to the maximum time frame of 192 credit hours. However, if it is determined at any point that the student will not be able to complete the program within 192 credits, financial aid eligibility stops. The maximum time frame is not increased for dual-degree students or students with minors. Transfer credit hours accepted for the student's academic program or degree are counted when measuring the maximum time frame to complete the degree or program and in hours attempted and earned.

Completion Rate: Pace of Progression (Quantitative Standard)
To ensure a student is making progress in progression toward their degree, a student must earn 67% of hours attempted. This is calculated by dividing cumulative hours earned by cumulative hours attempted.

Attempted Credit Hours:
Courses with grades and with marks of "W" withdrawn, "WF" withdrawal failure, "WP" withdrawal passing, "I" incomplete or 'F" failure are counted as courses attempted. Course repetitions and remedial coursework count as credit hours attempted and count toward the maximum time frame.

Earned Credit Hours:
Credit hours recorded as earned on the student's academic transcript at the end of each semester for which a student received a passing grade. An incomplete course or work in progress is not counted as earned credit hours.

Credits excluded from the credit completion calculation include audit credits, CLEP, prior learning credits.

Example: Joe Freshman was enrolled for 18 hours fall semester. He withdrew from a 4 credit hour course, receiving a "W" and failed another 4 credit hour course. At the end of the semester, his transcript showed he earned 10 credit hours. He has a 2.52 cumulative GPA. His percentage of credit hours earned based on his attempted is 55.5% (10/18). He did not make SAP for the fall semester based upon his earned hours. He must have had at least 67% earned hours from those attempted.

SAP Warning, SAP Probation and Financial Aid Suspension

SAP Warning

The first time a student does not meet the SAP requirement the student will receive a SAP Warning. The student will be eligible to receive financial aid for the next semester. No other action is required by the student.

SAP Probation and the Appeal Process

Two consecutive terms of failure to meet SAP will result in the student becoming ineligible for financial aid. The student must submit a letter of appeal to petition reconsideration for financial aid eligibility for the next term. The appeal must include a signed statement with:

1) The reason for failing to make SAP including any extenuating circumstances that caused failure to meet the SAP standards.
2) A description of how circumstances have changed to be in a better position to be academically successful.

An appeal must be based on significant extenuating circumstances that seriously impacted academic performance. Examples of extenuating circumstances include serious illness or injury, death of a family member or other extreme hardship. The appeal letter must be submitted to the Financial Aid Office within 14 days of receiving notification. Include supporting documentation if indicated.

An appeal will be approved if the Financial Aid Office can determine the student will be able to make SAP standards by the end of the next term. The student with an approved appeal will be on SAP Probation and regains eligibility for financial aid for the next term.

Academic Plan

If the Financial Aid office determines that SAP cannot be made during the next term, the student must include an academic plan of action required by the Academic Standards Committee or meet with their academic advisor to devise a plan to restore their SAP standards by a specific point in time. If the student submits and agrees to an academic plan, financial aid eligibility will be restored for the next term.

Financial Aid Suspension

Financial Aid Suspension occurs when any of the qualitative and quantitative standards cannot be met. The student will not be eligible for financial aid.

Return of Title IV Funds Policy

Any students receiving Title IV Funds at Lake Erie College will be subject to the following policy regarding return of those funds if they withdraw from all classes:

The amount of Title IV aid earned is the percentage of the semester completed. This percentage is calculated by dividing the number of days the student attended classes by the number of days in the semester. The semester is measured in calendar days including weekends and holidays, excluding breaks of more than five days.

Any student who withdraws on or before the 60% point in the semester will have to return or repay unearned Title IV funds. A student who withdraws after the 60% point of the semester is considered to have earned 100% of the aid received and will not have to return funds to the Title IV programs. A student's withdrawal date is determined by Lake Erie College to be:

1) The date the student began the withdrawal process (as outlined in this catalog) or notified the school of the intent to withdraw.
2) The midpoint of the semester if the student fails to officially notify the College of the withdrawal.
3) The student's last date of attendance at a documented academically-related activity.

Funds will be returned to the programs in the order specified by federal guidelines.

A repayment by the student to the Title IV programs may be required when cash has been disbursed to the student from financial aid funds in excess of the amount of aid earned during the term. If the student owes a repayment to the programs, loan funds are returned within the terms of the promissory note. Grant funds owed by the student will be returned at 50% of the amount owed.

If less aid for which the student was eligible was disbursed than was earned, the student may receive a post-withdrawal disbursement for the difference. The Office of Financial Aid will notify the student within 30 days of notification of withdrawal that these funds are available. The student must request these late disbursements in writing from the Office of Financial Aid. Institutional and state aid refunds will be calculated according to the Lake Erie College refund policy as posted in the official schedule of classes each semester.


 
   
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