FALL 2017 SEMESTER REFUND POLICY AND SCHEDULE Before the end of the first week Friday, September 1, 2017: 100% Before the end of the second week Friday, September 8, 2017: 75% Before the end of the third week Friday, September 15, 2017: 50% Before the end of the fourth week Friday, September 22, 2017: 25% After the fourth week After Friday, September 22, 2017: No refund given SPRING 2018 SEMESTER REFUND POLICY AND SCHEDULE Before the end of the first week Friday, January 19, 2018: 100% Before the end of the second week Friday, January 26, 2018: 75% Before the end of the third week Friday, February 2, 2018: 50% Before the end of the fourth week Friday, February 9, 2018: 25% After the fourth week (After Friday, February 16, 2018) No refund given SUMMER 2018 REFUND POLICY AND SCHEDULE FOR BFA STUDENTS Before and on the first day Monday, June 11, 2018: 100% Before the end of the first week Friday, June 15, 2018: 50% After first week (After Friday, June 15, 2018) No refund given REFUNDS TO RECIPIENTS OF FINANCIAL AID Financial aid recipients may be subject to a different refund schedule. Students who receive Federal Title IV Financial Aid and do not complete their courses will be responsible for repaying to the U.S. Department of Education unearned portions of aid. During the first 60% of a semester, a student “earns” Title IV funds in direct proportion to the length of time he or she remains enrolled. A student who remains enrolled beyond the 60% point earns all aid for that semester. Unearned Title IV funds, other than Federal Work Study, must be returned to the Federal Student Aid Programs. A Return of Title IV Funds Policy statement is available in the Office of Financial Aid and the Business Office.
MONTHLY INSTALLMENT PLAN FOR PAYMENT OF TUITION The Art Academy offers a monthly installment payment plan through the Higher One Tuition Pay Plan. There is an application fee per school year, but no interest is charged to your account. An unpaid student account balance is acceptable only when that amount is the enrolled budget amount with the Higher One Tuition Pay Plan. The monthly installment payment plan is available for the fall and spring semesters only. For details or to enroll, please visit www. tuitionpay.com or call 1-800-635-0120. UNPAID ACCOUNTS AND FINANCE CHARGES The Art Academy of Cincinnati will not issue a diploma, transcripts, records, grade reports, or statements of recommendation to any student whose financial accounts with the Art Academy are not paid in full. All financial accounts must be paid in full prior to the start of classes. After the payment due date has passed, a finance charge may be assessed to any account with an unpaid balance and for every month following that the balance is not paid in full. Students with delinquent financial accounts lose their registration privileges, and their accounts will be referred to a collection agency. FILING YOUR FAFSA Financial Aid personnel assist students in applying for federal and state aid in the form of grants and loans, as well as administer internal funds such as scholarships. Students must fill out the Free Application for Federal Student Aid (FAFSA) so that eligibility for aid may be determined. Students must complete this process electronically at www. fafsa.ed.gov. There is no processing fee, and the Art Academy of Cincinnati’s school code is 003011. Early filing of the FAFSA is encouraged and can be filed beginning October 1, 2017 for the 2018-2019 academic year. A properly filed FAFSA submitted in any given calendar year will use the tax return information from two years prior. For example, students who filed the FAFSA for the 2017-2018 academic year were required to submit their 2015 federal tax return information. This filing schedule reflects a federal law that took effect on October 1, 2016, and it allows adequate time to attain a determination of financial aid eligibility. This, in turn, promotes prompt completion of the financial aid process, as well as increased likelihood that funding will be in place well ahead of the tuition due date. Direct any questions to the Office of Financial Aid at 513-562-8773, send an email to email@example.com or visit www.artacademy.edu/ financial-aid/overview.php. Note: Students applying for Financial Aid should read the “Return of Title IV Funds Policy” Available in the Office of Financial Aid.
Tuition, Fees, Refunds, and Financial Aid | 103