Pro Rata Refund Procedures
The Higher Education Amendments of 1992 define a pro rata refund as a refund to a student of not less than that portion of the tuition, fees, room, board, and other charges minus any unpaid student charges, and minus a reasonable administrative fee assessed the student equal to the portion of the enrollment period for which the student has been charged on the date the student notifies an administrative office that they are withdrawing. In some cases the last day of attendance as documented by faculty at an academic related activity may be used.
The pro rata refund is applicable to students who completely withdraw from the institution up through the 60.000 percent point in the semester (beginning of classes to the end of exam period). At the 60.001% mark or later, refunds are not granted, and students have earned 100% of their financial aid for that semester.
There is no additional charge for attending the May Term for currently enrolled full-time (either fall or spring) residential or commuter students.
For students subject to the institutional refund policy, the MBU Student Account Office calculates a federal refund amount according to regulatory requirements.
Federal law requires federal funds to be returned in the following order: Unsubsidized Direct Loans, Subsidized Direct Loans, Direct PLUS Loans, Federal Pell Grants, FSEOG Grants, Federal TEACH grants, Iraq and Afghanistan Service Grants.
Please note that if a student has a federal student loan, any type of withdrawal or leave causes the student to be reported as “withdrawn” to the National Student Loan Database. The student’s federal loan grace period will begin from the date of determination, which is the date the student provides official notification to the institution requesting to withdraw or take a leave of absence. Unofficial withdrawals (where a student ceases attendance without providing official notification to the institution) that result in a student’s failure to earn a passing grade in any class will be subject to Return of Title IV Funds regulations based on the 50% point in the semester or the faculty reported last date of attendance. The institution charges are not reduced if the student does not officially withdraw. Contact the Financial Aid office for more information.
If you need addtional Financial Aid information for MBU please visit the Financial Aid information in the academic catalog.
Substantive Change
If for any reason the University cannot fully deliver the instruction for which the student has contracted there are processes in place to deliver alternative instruction or reasonable financial compensation.
MBU follows the guidelines set by SACSCOC in the Substantive Change manual to ensure that students have the opportunity to complete their program of study.