3. January Interterm: For students for whom the Interterm is the only registration for the term, the first $100 of tuition and any student fees are non-refundable. Of the remaining charges, refunds will be made on the following basis when notification is received: 100% is refunded by the end of the 1st day of classes; 80% is refunded by the end of the 2nd day of class; 40% is refunded by the end of the 3rd day of class; 20% is refunded by the end of the 4th day of class; After the 4th day of class, no refund can be given. Changing from Credit to Audit In all Terms of study, a student may change from credit to audit up until the last class. Tuition refunds for switching from credit to audit will follow the above policies. Withdrawal notations on transcripts Any withdrawals after the first two weeks of Fall/Spring classes, or the first day of January or Summer Intensives will result in a WDR notification on the student’s transcript. After the last day of term, any withdrawal will be recorded as NAPP. Consistent patterns of withdrawal from courses will affect a student’s satisfactory academic progress, and may result in a student being put on probation. See pages 45-46 for more information on Satisfactory Academic Progress and Probation. Withdrawal from non-credit workshops If withdrawal notification is received by the Registrar 7 days prior to event, a full refund will be given, minus a $25 administration fee. For withdrawals less than 7 days prior to beginning of the event, no refund will normally be given. Withdrawal and VST Bursaries Where a student has received a tuition bursary, only the tuition that the student has paid themselves will be refunded at the pro-rated amount. The bursary portion will be returned to VST’s bursary funds. Withdrawal and Student Loans 1. Canadian Student Loans If you withdraw from full-time studies while receiving a Canadian Student Loan: VST will automatically notify the NSLSC (National Student Loans Service Centre) that you no longer meet requirements for assistance. Your funding will be re-calculated based on the number of weeks you actually attended school. The NSLSC will explain to you in writing how your withdrawal decision affects your student loan or grant. Any tuition refund you are eligible for will be applied to your outstanding loan balance if VST received tuition from your student loans. Re-qualifying for student assistance depends on several conditions, including successfully completing fulltime studies for two semesters or one academic year without Canadian Student Loan assistance. 2. U.S. Student Loans – Return of Title IV Funds In accordance with U.S. federal regulations, when a federal financial aid recipient withdraws from all classes during a term, it is VST’s responsibility to determine the withdrawal date and amount of grant and/or loan assistance that the student earned. If a student received less assistance than what was earned, he/she may be able to receive those funds. On the other hand, if the student received more assistance than earned, the unearned funds must be returned by the school and/or aid recipient to the appropriate aid program. Note: The Return of Title IV funds calculation is different from VST’s tuition refund calculation. Calculation of Earned Title IV Assistance The amount of Title IV federal aid assistance earned by the student is determined on a pro-rata basis up to the end of 60% of the term. For example, if the student completed 30% of a term, 30% of the aid originally scheduled to be received would have been earned. Once a student has completed more than 60% of a term, all awarded aid has been earned.
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