Bloomfield College will provide a fair and equitable refund to all students who withdraw from school before the completion of an enrollment period for which they are charged. The federal government mandates that Bloomfield College perform the appropriate refund calculation based on the student’s registration and financial aid status at the time of withdrawal. Each formula is described below:
1. Students Not Receiving Funding from Any Source The tuition refund policy as described in the “Tuition and Fees” section of the catalog will apply.
2. Students Receiving Bloomfield College Funding Only (Grants, Scholarships and/or Waivers) The tuition refund policy as described in the “Tuition and Fees” section of the catalog will apply. The amount of Bloomfield College funding retained by the student will be based on the same percentage as the institutional refund policy. (Example: A student who is billed 80% of tuition for the semester will receive 80% of the Bloomfield College semester award).
3. Federal Financial Aid Recipients (Official Withdrawal) Current federal regulations require that students who withdraw from classes before 60% of the semester has passed will be subject to the federal government Return of Title IV Funds formula. Bloomfield College is allowed to retain only that portion of aid which corresponds to the actual length of attendance in the enrollment period minus any of the student’s unpaid scheduled cash payments. Once you have completed more than 50% of the payment period, you will have earned all of your federal financial assistance, and no federal aid would need to be returned.
(Unofficial Withdrawals) Bloomfield College must establish whether federal financial aid recipients whose record indicate zero (0) earned credits due to an 'F' or a 'W' grade have unofficially withdrawn from the college.
If you have unofficially withdrawn, 50% of your federal student aid will be considered unearned and may result in a reduction of federal aid for the award period. Should it become necessary for you to cease attendance in all courses, it is in your best interest to follow the official withdrawal procedure through the Registrar's office.
Excess Federal Financial Aid Funds will be returned in the following order: Unsubsidized Federal Stafford Student Loan, Subsidized Federal Stafford Student Loan, Federal Plus Loan, Federal Perkins Loan, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, other Title IV programs, other federal sources of aid, state aid programs, private aid programs, institutional aid, the student.
4. State of New Jersey Grant(s) Recipients Refunds may be due to the State of New Jersey when a student withdraws or is terminated or drops to less than full-time status during the institutional refund period. Students may request an example of the refund calculations from the Financial Aid Office.
