direct deposit
financial
implications if you withdraw from VCU
The official university tuition and fees refund
policy, applicable only for the fall and spring
semesters (excluding short courses), is outlined
in the table that follows. Refunds are
calculated on a course-by-course, per hour
basis, disregarding the full-time cap amounts.
Students who are enrolled full time and withdraw
from courses may not receive a refund.
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Withdrawal/drop period
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Student
refund
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Retained by
university
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Drop/withdraw prior to and during the first week of
classes
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100%
tuition and fees
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0%
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Withdraw second week of class
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80%
tuition and university fee
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20%
tuition and university fee
100% of all other fees
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Withdraw third week of class
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60%
tuition and university fee
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40%
tuition and university fee
100% of all other fees
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Withdraw fourth week of class
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40%
tuition and university fee
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60%
tuition and university fee
100% of all other fees
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Withdraw after fourth week of class
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0%
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100%
all fees
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This table pertains to both complete withdrawals and
reduced course loads for fall and spring semesters only.
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Students
in off-campus classes are subject to the same refund policy as all other
university students if the class is scheduled on the regular semester
schedule. If the off-campus class is shorter or longer than the
academic semester, the refund dates are adjusted accordingly at the
request of Off-campus Programs.
The
refund policy and deadlines of the English Language Program are
different from the university's refund policy for academic classes.
Details of the policy may be obtained from the English Language
Program Office.
A
full refund for Holiday Intersession will be granted if the course is
dropped before midnight on the day
of the first class meeting. Partial refunds are not granted.
A
full refund of tuition and applicable fees for summer sessions and
short courses will be granted if the course is dropped no later than
the day following the first day of a given class. (This deadline also
is applicable if the class does not meet on two consecutive days.)
Partial refunds are not granted for summer semester or short courses.
Students
who are financial aid recipients and withdraw from all courses are
subject to the Federal Financial Aid Refund Policy. For more details
see "Federal Financial Aid Refund Policy" under
"Financial Aid" in the Undergraduate Bulletin.
Refunds
will be computed based on the actual withdrawal date certified by the
Office of Records and Registration. Refunds will not be made to
students who do not attend classes and have not completed the
required withdrawal procedure. Refund processing may take
approximately two to three weeks. Exceptions to this refund policy
are made only in rare instances. Written application for an exception
must be filed with the Student Accounting Department addressed to the
Refund/Waiver Appeals Committee within three years.
Students
will not be entitled to a refund of room fees:
- if
they are suspended from the residence halls for disciplinary
reasons, or
- if they voluntarily withdraw from the
university residence halls but remained registered for any
course(s) at the university unless clearance is granted through
Residential Life and Housing.
A
refund of the dining plan charges will be made if:
- the cancellation or change is received
by 4 p.m., Friday of the
second week of classes.
Refer
to the Room and Dining Contract Terms and Conditions for additional
information.
Requests
for refunds of overpayment
Please
note that an overpayment from financial aid will be refunded through
the Financial Aid Refund Process.
Requests
for refunds that are not generated from the overpayment of financial
aid should be made in writing to VCU Student Accounting Department,
P.O. Box 843036, Richmond, VA 23284-3036. Refund Request Forms are
available at the Student Services Centers, 827 W. Franklin St., Room
104 and 1101 E. Marshall St., Room 1-055 and on the web at
http://www.vcu.edu/enroll/forms.
In accordance with credit card regulations, the university will
refund the credit card account with any credit balance that may
result on a student's account as the outcome of a credit card
payment. The remaining credit balance, if any, will be refunded to
the student.
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Direct deposit
Student
refunds can be directly deposited into a student's bank account by
completing a Direct Deposit Authorization Form. Application forms are available in
the
Student Services
Centers on both campuses, or you may print the
Direct Deposit
Authorization Form from this website. Students are strongly
encouraged to participate in the Direct Deposit Program. Please
note that direct deposit authorizations will remain in effect until
a written cancellation is submitted to
Disbursement
Operations.
If
you do not have an established bank account, you may contact
Wachovia Bank about opening a free
Wachovia
college checking account. You can also access your refund
through your
VCUCard by linking the card with your
Wachovia banking card.
Students
not participating in the Direct Deposit Program will be mailed
refund checks. Therefore, students are strongly
encouraged to maintain a current active permanent mailing address with the
Office of Records and Registration. Typically, there is a five to
seven working day delay after the Office of Financial Aid has
authorized an award before a refund will be mailed.
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