In order for a Student to cancel or withdraw from any program, the following conditions must be met:
Three Business-Day Cancellations
If a student wishes to withdraw from a program and cancel their Enrollment Agreement, they must do so within three business days to receive a full refund with the exception of the non-refundable application fee. Upon receipt of the refund, the student agrees that its receipt constitutes a full and complete release of OC from any and all liabilities. All governmental and agency refunds will be made within the required time limits of the funding agency.
- Cancellation after attendance has begun, but before 60% completion of the quarter, will result in a prorated refund computed on the number of days or hours completed to the total program days or hours in the quarter.
- Cancellation after completing 60% of the term will result in no refund for the term.
- Refunds will be made within 45 days from the date of determination.
Return of Title IV Funds
In addition to institutional charges returned based on the aforementioned Refund Policy, OC will also return Title IV funds to each student, if applicable. Title IV funds will be returned based on the amount of assistance the student earned at the time of withdrawal. This amount is calculated using the amount of time the student attended OC as well the courses attempted and completed. There is no direct relationship between OC’s institutional charges and Title IV funds. If applicable, up through the 60% point of the payment period (quarter), a pro-rata schedule is used to determine the amount of Title IV funds the student has earned at the time of his or her withdrawal. After the 60% point, the student has earned 100% of the Title IV funds for the payment period. A complete description of the Return of Title IV Funds Policy and related financial aid eligibility requirements can be found below. Sample Return of Title IV calculations are available from the Financial Aid Office upon request.
Funds will be returned to the Title IV programs within forty five days after the date that OC determines that the student withdrew, and may result in the student owing OC for institutional charges previously paid by Title IV assistance. The percentage of the payment period completed, which in turns determines the amount of Title IV funds returned, is calculated using the following formula:
Number of Days Completed Through the Withdrawal Date in the Payment Period ÷ Total Number of Days in the Payment Period
Orion College returns unearned Title IV funds to the respective programs in the following order:
- Direct Unsubsidized Stafford Loans
- Direct Subsidized Stafford Loans
- Direct PLUS Loans
- Federal Pell Grants
- Other federal, state, private, or institutional
- The student
Once the Return of Title IV funds formula is calculated, the institution will apply its refund policy to the institutional charges. Therefore, the student may owe funds to the institution to cover unpaid institutional charges. The institution’s refund policy can also be found in the Catalog and the Enrollment Agreement.