MONMOUTH COLLEGE ACADEMIC CATALOG 2012–2013
Tuition and Fees 189
A student who withdraws prior to the census date (last day to add or drop a course without a fee) of any semester is not considered to have been enrolled for that semester and therefore 100% of the student’s assistance for the semester will be cancelled.
Refund of Private Scholarships, Grants and Loans Unless otherwise requested by the donor or a private scholarship or grant award, the funds will be retained to cover the costs incurred by the student. Excess funds will be returned to the donor. Private/alternative loans will be the last item retained to cover the costs incurred by the student. Excess loans proceeds will be returned to the lender. Summary In summary, the financial assistance a student is entitled to retain from each source (federal, state, institutional & private) will be calculated and kept in the order described below up to the total costs incurred by the student. When the total assistance a student is entitled to retain is less than the costs incurred, the student will be billed for the difference. 1. Private grants/scholarships/loan 2. Iraq and Afghanistan Service Grant 3. Federal TEACH Grant 4. Federal SEOG grant 5. Federal Pell Grants 6. Illinois MAP Grants 7. Illinois Scholarships 8. Monmouth College Grants/Scholarships 9. Illinois Teacher Scholarships with service requirements 10. Federal PLUS Loan 11. Federal Perkins Loan 12. Federal Direct Subsidized Stafford Loan 13. Federal Direct Unsubsidized Stafford Loan Loan Exit Interview Required Perkins Loan and Stafford Loan borrowers are required to have an exit interview with the Financial Aid Office before leaving campus to ensure that they fully understand their commitments and obligations under this federally-funded program. Appeal Process An appeal process exists for students or parents who believe that individual circumstances warrant exception from published College charges and refund policies. Persons wishing to appeal for special consideration should address such an appeal in writing to the Vice President for Finance and Business at Monmouth College. Effective Date The policy above is effective June 5, 2012. Right to Change Charges Charges are established on an annual basis, and the College makes every effort not to change them during the year. However, the College reserves the right to change any and all of the above charges.