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The Student Business Services department plays a crucial role in assisting students with the various processes related to tuition and fees at the school. This department serves as a dedicated resource for students, ensuring that their financial obligations are properly managed and facilitating convenient payment options.
Students can pay their tuition online on their MyNewSchool portal under the Manage Your Account / Pay Your Bill section.
The Return of Title IV Funds (R2T4) policy determines the amount of federal loan and grant (Title IV) aid a student may retain based on the amount of time spent in attendance. Title IV funds include Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Federal Subsidized Direct Loan, Federal Unsubsidized Direct Loan, or Federal Direct PLUS Loan. The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges.
If a Title IV credit balance remains after calculation of both the institutional refund and the R2T4 policies, the balance will be paid to the student unless the student requests the additional credit be returned to federal student loans.
If a student earned more Title IV aid than was disbursed, the institution will credit earned grant funds to unpaid institutional charges and will disburse additional earned grant funds to the student. Any unpaid earned loan funds will be offered to the student to apply to unpaid institutional charges, and any additional amounts will be offered to the student. The student should accept these funds within 14 days of the date of the notification. Any post-withdrawal loan disbursement must be paid within 180 days of the student’s withdrawal.
If more funds were disbursed than are considered earned after the R2T4 calculation, refunds due from the college will be made within 30 to 45 days of the student’s effective withdrawal date. If the student received a credit balance refund for living expenses prior to the completion of the withdrawal calculations, the student may be required to return an amount of those funds. A required R2T4 may also result in a debit tuition account balance, which the student must pay to the college. Refunds are allocated in the following order:
Students will be notified of any refunds due to the Direct Loan servicer on their behalf through the mailed exit interview material. Refunds to any of the Title IV or state programs will be paid within 30 days from the date of determination.
The R2T4 amount is calculated for any Title IV recipient who withdraws before the end of the term. The calculation may result in a required return of Title IV funds to their source if the student withdrew before completing 60% of the quarter. The percentage of Title IV to be retained is equal to the number of calendar days from the beginning of the quarter to the withdrawal date divided by the total number of calendar days in the quarter. Breaks of more than 4 days are excluded from the number of days in the formula. After the 60% point in the quarter, a student has earned 100% of the Title IV funds he or she was scheduled to receive during the period. If a student does not complete a term but fails to follow the official withdrawal procedures, the R2T4 amount will be calculated using the midpoint of the quarter as the withdrawal date unless attendance at an academically related event is documented on a later date.
A student withdrew on the ninth day of the term (Tuesday of the second week) of a 79-calendar-day quarter. The R2T4 calculation shows the student attended 9/79 or 11.4% of the term. Below is a breakdown of disbursed amounts prior to withdrawal and the amounts that must be returned:
Federal aid awarded and disbursed prior to withdrawal is as follows:
Total federal aid equals $2,300, and 11.4% or $262.20 was earned so $2,037.80 must be returned:
All students who have completed 60% or less of the course of instruction for the term are entitled to a pro rata refund. The refund shall be the amount the student paid for the instruction multiplied by a fraction (the numerator equals the number of hours of instruction which the student has not received, but for which the student has paid, and the denominator is total number of hours of instruction for which the student has paid), less a $100 administrative fee.
All students who have completed 60% or less of the course of instruction for the term are entitled to a pro rata refund. The refund shall be the amount the student paid for the instruction multiplied by a fraction (the numerator equals the number of hours of instruction which the student has not received, but for which the student has paid, and the denominator is the total number of hours of instruction for which the student has paid), less a $100 administrative fee. The institution shall also provide a pro rata refund of nonfederal student financial aid program moneys paid for institutional charges to students who have completed 60 percent or less of the period of attendance.
A remaining credit balance after both the R2T4 and State Pro Rata Refund policies have been calculated will be used to repay NewSchool funds, other private sources as required, and then the student, with the exception that any Cal Grant A received in excess of tuition and fees for the quarter will be returned to the Cal Grant program.
Students who withdraw from a course in the first part of a quarter and remain registered for a course in the second part of a quarter will be asked to confirm that they plan to return. Federal rules do not allow NewSchool to rely on previous registration if the student withdraws from the first course. An R2T4 calculation will be processed using the earlier withdrawal date for students who indicate that they will return and do not.
Students withdrawing from all courses in the quarter prior to the completion of 60% of the quarter may find that funds are owed to the school as a result of the federal R2T4 formula. Students who stop engaging in academically related activities during the quarter, without officially withdrawing from the courses, are subject to the R2T4 calculation. In such cases, the last date of academically related activity, as determined by NewSchool, is used as the withdrawal date for the quarter. Prior to withdrawing from all courses in the quarter, it is suggested that students contact the Financial Aid Office to determine the amount of federal aid that must be returned. Federal student aid may not cover all unpaid charges due to NewSchool upon the student’s withdrawal.
Please contact the Financial Aid Office with any questions or concerns regarding Family Federal Educational Subsidized, Unsubsidized, or Parent PLUS Loans. If the financial aid staff is unable to resolve a student’s questions or concerns, it will be brought to the attention of the director of financial aid.
The Department of Education’s FSA Ombudsman is available if a student is unable to resolve a student loan issue and the above options have been exhausted. An ombudsman resolves disputes from a neutral, independent viewpoint. The FSA Ombudsman will informally research a borrower problem and suggest resolutions.
Students may contact their office by:
National Student Loan Data System Information for Students (NSLDS)
Students may access their federal loan information at the NSLDS student access website https://www.nslds.ed.gov by providing the following information:
Monday – Friday | 8 AM – 5 PM
619-684-8800