Refund Policy & Title IV Funds Pay Periods/Disbursement for Overawards

 

A student who withdraws or is expelled from French Academy is subject to the following refund calculations.  French Academy follows federal “Return of Title IV Funds” Formula to dictate the amount of Federal Title IV aid that must be returned to the federal government by the school and/or student.  The federal formula is charted below.

French Academy is required to abide by all United States Department of Education laws and requirements.  A Refund Policy has been established that must be followed should a student’s enrollment be terminated.

 

Review policy by clicking this link

Refund Policy Return to Title 4

 

REFUND CALCULATIONS - COSMETOLOGY

Based on a 1500 clock hour     

Full Time Tuition is $8638.30                                                                                                                                             Part Time is $10102.40

FULL TIME                                                                                                                                                                              PART TIME 

 % attended   Scheduled Hours   Tuition Amount owed to School     % tuition owed  

.01% - 4.9%               20 - 73                                           $1727.66                                                         20%                             $2020.48          20%

 5% - 9.9%                74 - 148                                          $2591.49                                                         30%                             $3030.72          30%

 10% - 14.9%             149 - 224                                        $3455.32                                                         40%                             $4040.96          40%

 15% - 24.9%            225 - 374                                       $3887.24                                                         45%                             $4546.08          45%

 25% - 49.9%           375 - 749                                       $6046.81                                                          70%                             $7071.68           70%

 50% - over             750 - over                                       $8638.30                                                        100%                            $10,102.40        100%

       

Enrollment Fee & State Fee is Non-Refundable:    $215.00

Kit/book fee is Non-Refundable:                            $1635.00

Both fees are to be added to the above Tuition Amount owed to School  

       

Return of Title IV Funding     

       

Return of Title IV Funding is based off of % of completion per pay period.  

pay period       Hours in period       Eligibility hours         Disbursement of Overaward 

   1 - 450                        450 hours                        60% = 270 hours                                          270

  451 - 900                     450 hours                       60% = 270 hours= 721 hours                        721

  901 - 1200                   300 hours                       60% = 180 hours = 1080 hours                     1081

  1201 - 1500                 300 hours                        60% = 180 hours = 1380 hours                     1381