Section Six, Financial Policies and Assistance

Tuition and Fees

A “Schedule of Tuition and Fees ” is contained in appendix 4 of this catalog. Not all campuses share this tuition and fee schedule. Exceptions to this schedule are noted.

Payment Policies and Financing Options

Regardless of the method used to finance his/her education, all students must agree to a financial plan. All charges on a student’s account are considered due and payable when the charge is incurred. In special circumstances, students may be allowed to carry a balance until the end of the course. The balance is still considered to be due at the start of the course and the balance being carried is not considered an extension of credit.

Payment in Full

Tuition and fees are expected to be paid in full one month prior to the start of the course or at the time of registration, whichever is sooner.

Tuition Reimbursement

A deferred tuition payment arrangement may be offered to students when employers are willing to remit payment directly to Argosy University.

Tuition Waiver for a Future Course
(Argosy University Online Programs)

Students receiving a grade of “W” for a course will be granted a Tuition Waiver for a Future Course upon their return. Tuition for the course assigned a grade of “W” will be credited toward the student’s account. Any student retaking a course within 90 days of receiving a grade of “W” will be granted a Tuition Waiver for a Future Course. Students must re-take the entire course.

Financial Aid

Financial assistance (financial aid) awarded through Argosy University may consist of a combination of federal grants, scholarships, state aid programs, loans, and/or part-time work-study opportunities for those who qualify. Different forms of financial aid are explained later in this section.

Students complete the Free Application for Federal Student Aid (FAFSA) and the Argosy University Institutional Application for Financial Aid to apply for financial assistance. Both documents are discussed in detail later in this section. Students will receive an award letter from Argosy University, describing their Financial Aid Package. Financial aid funds are usually sent directly to Argosy University. Students who are awarded aid in excess of their educational expenses will be stipended the overage shortly after the credit is created. This overage can be used to meet indirect educational expenses.

If the financial aid awarded is not sufficient to cover a student’s educational expenses, the student must make alternative arrangements to pay the difference in full by the end of the payment period.  Students who have applied for financial aid and have been awarded aid are not required to make a payment by the payment deadline provided their aid is sufficient to cover their tuition charges, and all required paperwork has been completed and received.

Upon receipt of a student’s financial aid funds, any credit balance on the account will be stipended to the student within 14 days.

Estimated Cost of Attendance Budget

The cost of attendance budget, also referred to as the cost of education, is an estimate of the total amount of money it will cost a student to attend school per academic year. Argosy University calculates this amount using rules established by the U.S. Department of Education. The cost of attendance budget may include tuition and fees, books and supplies, loan fees, an allowance for food, housing and transportation, as well as miscellaneous or personal expenses.  Extraneous costs not directly related to the completion of a student’s course of study, such as car payments and cell phone bills, are not included. In addition to helping a student project his/her total education costs, the cost of attendance budget is also used to determine the maximum amount of financial aid a student is allowed to receive for a particular period of enrollment. The cost of attendance budget varies, depending on the program of study and the length of enrollment. The table below shows a listing of estimated cost of attendance budgets per academic year for full-time Argosy University students who attend summer, fall, and spring semesters.¹

¹Costs are effective Fall 2010  and are subject to change.

* Clinical psychology students who are registered for an internship or Clinical Research Project may be assigned a different budget.

Financial Assistance

Argosy University participates with federal, state, and private agencies to make various financial aid programs available to students. However, the primary responsibility for financing a college education rests upon the student and family.

If a student obtains a loan to pay for an educational program, the student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund. If the student has received federal student financial aid funds, the student is entitled to a refund of the moneys not paid from federal student financial aid program funds. If the student has any questions regarding the repayment of their loan, he or she should contact the institution’s financial aid office or contact the agency that guaranteed the loan.

Types of Financial Assistance

Grants

Grants are financial awards that do not have to be repaid. They are usually based on need.

Federal Work Study Program

Available to graduate and undergraduate students, eligibility for this program is based on financial need. Students are offered jobs (usually on-campus) which pay at least the federal minimum wage. The number of hours to be worked during a semester is determined by the amount awarded by the program. The average work schedule ranges from ten to twenty hours per week.

Scholarships

Scholarships are financial awards which do not have to be repaid. Funds are provided by a variety of government, civic and professional organizations as well as the school itself. Awards are made in recognition of outstanding student achievement. Student achievement can be defined in many ways—by academic talent, community service involvement, or demonstrated leadership abilities. Scholarship opportunities at Argosy University are designed to assist students in pursuing their educational goals by recognizing their prior achievements in these areas.

Loans

A loan is financial aid which must be repaid to the lending institution. Eligibility, interest rates, payment deferment periods (if any), and loan amounts vary by the type of loan the student obtains. Loans are available in several forms, as briefly explained below:

Federal (Title IV) Loans Federal Perkins Loan

This is a fixed interest rate, subsidized loan. It is administered by Argosy University, and eligibility for the loan is based on financial need. Funds in this program are extremely limited.

Federal Subsidized Stafford Loan

This is a fixed rate, subsidized loan, administered by lenders. Eligibility for this loan is based on financial need. Argosy University must certify the student’s eligibility for the amount borrowed.

Federal Unsubsidized Stafford Loan

This is a fixed rate loan, administered by lenders, and is not based on need. Argosy University must certify the student’s eligibility for the amount borrowed. Payments may be deferred while the student is enrolled, however, interest accrues on the loan during that time.

Federal PLUS (Parent Loan for Graduate Students)

This loan is for students in Graduate programs who need additional funds and who meet Federal eligibility requirements. The interest rate is fixed, and interest accrues while the student is in school. There are credit requirements for this loan. It is recommended that students bor­row the Federal Grad PLUS Loan from the same lender as their Stafford Loans.

Additional Unsubsidized Loan

This loan is available to full­-time stu­dents in the Doctor of Psychology in Clinical Psychology program at the following Argosy University campuses: Atlanta, Chicago, Hawaii, Phoenix, Orange County, Phoenix, San Francisco Bay Area, Tampa, Twin Cities, and Washington DC. The interest rate and repayment terms of this loan are the same as those of the Federal Unsubsidized Stafford Loan.

There are borrowing limits on all of the loans described above. Criteria such as dependency status and grade level are used in defining these limits. For further information and details on the grants, scholarships and loans previously described, please see the Argosy University brochure entitled Financing Your Argosy University Education, or contact the Office of Student Finance at your Argosy University campus of record.

Other Financial Assistance Resources

In addition to the federal and state programs listed here, Argosy University participates in other programs designed to provide financial assistance to specific groups of students. Some of these programs include:

• Veterans Administration (VA)
• Job Training and Partnership Act (JTPA)
• Division of Rehabilitation Services (DRS)

All students who wish to be considered for financial aid assistance must establish financial aid eligibility on an annual basis. The financial aid year begins with the summer semester and concludes with the spring semester. Determining financial aid eligibility includes completing the application process as outlined below and meeting the academic progress standards outlined in this Academic Catalog. Students must be enrolled at least half-time to be eligible for most types of financial aid.

Applying for Financial Assistance

The Free Application for Federal Student Aid (FAFSA) and the Argosy University Institutional Financial Aid Application are two documents which help to determine the amount of assistance for which a student is eligible. The FAFSA is used to collect personal and financial information which is used to calculate financial need and determine eligibility for financial aid. This analysis takes into account factors such as income, assets, number of family members in the household, and the number of family members enrolled in college.

Eligibility Requirements

General eligibility requirements for federal financial aid are as follows. Students must:

• Be a U.S. citizen, a U.S. national, or an eligible non-citizen
• Have a valid Social Security number
• Possess a high school diploma, or a General Education Development (GED) certificate
• If male, be registered with the Selective Service
• Be enrolled at least half-time per semester and maintain satisfactory academic progress in an eligible degree program
• Demonstrate financial need (except for some loan programs)
• Not owe a refund on a federal student grant and not in default on federal student loan.
• Sign a statement on the FAFSA certifying that the student does not owe a refund on a federal student grant and is not in default on a federal student loan
• Not have been convicted of certain drug offenses

Non-matriculated, students-at-large, or transient students are not eligible for financial aid.

Not all programs are financial aid eligible. For a list of programs eligible for financial aid, contact your Argosy University campus of record.

A table depicting the varying levels of enrollment in the “Section Seven, Academic Policies and Procedures ” section of this catalog defines half-time status for each program. Different academic programs have varying definitions of half-time status. Certain financial aid programs may have additional eligibility requirements.

When to Apply

Financial aid applications are available online at fafsa.ed.gov in early January. Students must reapply for financial aid each academic year. Students should have a complete financial aid file by the following priority application dates to ensure timely receipt of financial aid funds. A complete financial aid file consists of Argosy University’s receipt of the student’s FAFSA data from the Department of Education, an Argosy University Institutional Financial Aid Application, a completed loan entrance interview (if required), and submission of verification of other requested documents (if required).

How to Apply

The following steps are required to initiate and complete the financial aid application process:

1. Obtain a PIN from the U.S. Department of Education. This is necessary for completing FAFSA online. A PIN can be requested at www.pin.ed.gov.
2. Complete the Free Application for Federal Student Aid (FAFSA) or the Renewal FAFSA online at www.fafsa.ed.gov. Students must include Argosy University’s federal school code (021799) on the application.

What Happens Next?

The Department of Education processes the student’s FAFSA, and sends the student a Student Aid Report (SAR). The Department of Education sends Argosy University a copy of the data called an Institutional Student Information Report (ISIR). The Argosy University Office of Student Finance uses the ISIR and Institutional Financial Aid Application to construct the student’s financial aid package.

Argosy University will post the student’s financial aid award letter on the student portal. If the Federal Subsidized and/or Unsubsidized Stafford Loans are part of the financial aid package, a loan entrance interview will be necessary. The student must also complete the Stafford Loan Master Promissory Note in order to receive Stafford Loan funds. The entrance interview and master promissory note links are both available at http://www.argosy.edu.

Applications for the Federal Grad PLUS loans and alternative loans are available upon request.

For general questions about the financial aid programs, students should contact the Office of Student Finance at the Argosy University campus to which they are applying or currently attending. Applicants who are applying to more than one Argosy University campus should submit an Institutional Financial Aid Application for their first choice only.

Applying for Scholarships

In order to apply for a scholarship at Argosy University, students must meet the following requirements¹:

• Students must have applied for admission at an Argosy University campus
• Students must be degree-seeking
• Students must be enrolled at least half-time, although preference may be given to full-time students
• Students must have completed a Free Application for Federal Student Aid (FAFSA) (international students are exempt from this requirement)

The Argosy University campus of record will determine a student’s eligibility for scholarship.

Since funds are limited, applicants are encouraged to apply early. Award amounts generally range from $1,000 to $5,000 for the academic year.

Scholarship awards are available in various categories and may be renewable. The campus student finance office can provide more information regarding the following scholarships:

New Students Only

Academic Award
Alumni Award
Community Service Award
Diversity Award
Leadership Award
Returning Adult Award

Currently Enrolled Argosy University Students Only

Argosy University Merit Award

Scholarship Limitations

• Scholarships are applied to tuition only
• Scholarship applications can only be submitted to a single Argosy University campus—applications to multiple campuses will be rejected.
• Students who defer their admission to another semester will need to reapply for the scholarship.

¹Scholarships are not available to EDMC employees, subsidiaries or affiliates.

Argosy University Refund Policies

Institutional Refund Policy

The Institutional Refund Policy applies to students, other than those attending campuses in California, Georgia, Tennessee and Virginia who officially drop all courses in a semester and provide notification to the University. Students dropping all courses in a semester are considered withdrawn for refund purposes and are subject to the Return of Title IV Funds Policy .

Fees will be refunded according to the refund percentage shown in the tables below. Tuition deposits are non-refundable for students who fail to matriculate in their designated program of study. Refunds are made within 30 days of the withdrawal date.
 

Campus-Based Programs

Argosy University Online Programs

Georgia State Refund Policy

The Georgia State Refund Policy applies to students who officially drop all courses in a semester from Argosy University, Atlanta and provide notification to the Student Services Department. Students dropping all courses in a semester are considered withdrawn for refund purposes and are subject to the Return of Title IV Funds Policy.

Fees will be refunded according to the refund percentage shown in the table above. Refunds are made within 30 days of the withdrawal date.

California State Pro Rata Refund Policy

California students have the right to cancel their enrollment agreement and receive a full refund of all charges if the student withdraws by the first class of the seventh day after the enrollment agreement is signed, whichever is later.  If the student does not withdraw by this time, the student will have to follow the California State Pro Rata Refund Policy that is calculated as follows:

1. An administration (registration) fee of $100 is deducted from the total cost of tuition and fees for the semester.
2. This figure is divided by the number of hours in the program.
3. The quotient is the hourly charge for the program.
4. The amount owed by the student for the purpose of calculating a refund is derived by multiplying the total hours attended by the hourly charge for instructions, plus the amount of the registration fee specified in line one.
5. The refund is the amount in excess of the figure derived in line four that was paid by the student.

For example, if a student completes only four class sessions of a 10 session course, and paid $1100 tuition, the student would receive a refund of $600, using the calculations in the illustration below:

Students who withdraw on or before the first day of class shall receive a full refund of the amount paid for institutional charges, less the application fee. Any notification of withdrawal or cancellation and any request for a refund must be made in writing.

The administrative fee is not retained if a student withdraws on or before the first day of the semester.

Florida Cancellation Policy

Florida students who cancel any obligation within three working days of the original commitment will be provided a full refund.

Virginia State Policy

The Virginia state policy applies to students who attend the Argosy University, Washington DC campus located in Arlington, VA. Argosy University will earn tuition and fees based on when the student last attended as follows:

First 25% of the semester, 50% earned
25%-50% of the semester, 75% earned
After 50% of the semester, 100% earned

Tennessee State Policy

The Tennessee state policy to students who attend Argosy University, Nashville which is located in Nashville, TN. Argosy University will earn tuition and fees based on when the student last attended as follows:

First 10% of the semester, 25% earned
10% - 25 % of the semester, 75% earned

The University may use the Institutional policy where it is more beneficial to the student.

Course Add/Drop Refund Policy

Campus-Based Programs

Students dropping a class must provide official notification to the Student Services Department by completing an Add/Drop Form. Students officially dropping all classes in a semester are considered withdrawn for refund purposes and are subject to the institutional refund policy as published in this Academic Catalog.

Note: For weekend courses, the official start date may precede the on­ campus component. Tuition credits will be applied to the student’s account according to the refund schedule below: 

15-Week Courses

7.5 Week Courses

Argosy University Online Programs

 Students enrolled in Argosy University Online Programs should refer to the refund schedule outlined under “Institutional Refund Policy  when dropping a course.

Course Drop Refund Deadlines

In order to receive a refund of 100 percent, students must officially drop a course through Student Services by the following dates. Please note that the deadline for 15-week courses is noon of the date listed.

Fall 2010 Deadlines

Spring 2011 Deadlines

Summer 2011 Deadlines

Sarasota Intersession Course Drop Refund Policy

Intersession courses begin after the official start of the semester and the refund policies are outlined below.

Grades

Students who officially withdraw from a course after the end of the add/drop period and before the completion of 67% of instructional time will receive a grade of “Withdrawn” (“W”). Students who officially withdraw from a course after the completion of more than 67% of instructional time will receive a grade of “Failure Due to Late Withdrawal” (“WF”). See below for deadlines as they apply to 15 week courses and 7.5 week courses. Refer to Section Seven, Academic Policies and Procedures  under “Additional Grades ” for detailed descriptions of grade of “W” and grade of “WF.”

 Students enrolled in campus-based programs who officially drop a course before the end of the add/drop period will have the course removed from their transcript. A record of the course attempted remains on the student’s ledger and in the student’s academic record.

Financial Aid Refund Redistribution Policy

All students receiving financial aid who withdraw completely from the program may have to return any refund amount to the appropriate Student Financial Aid Program in accordance with the refund distribution schedule which follows:

1. Federal Unsubsidized Stafford Loan
2. Federal Subsidized Stafford Loan
3. Federal Perkins Loan
4. Federal PLUS
5. Other federal, state, private, or institutional aid programs, if required by the program
6. Students

Argosy University will return unearned aid within 30 days of the date if:

• The student officially withdraws
• The student is dismissed, or
• The institution determines the student’s withdrawal date, in the case of an unofficial withdrawal.

Return of Title IV Funds Policy

In compliance with Federal regulations, the school will determine how much Federal student financial assistance the student has earned or not earned when a student withdraws from school.

The school will calculate the percentage and amount of awarded Federal student financial assistance that the student has earned if the student withdraws up through the 60 percent point of the term. If the student has completed more than 60 percent of the term, the student earns 100 percent of the Federal student financial assistance.

The amount earned will be based on the percentage of the term that was completed in days up to and including the last date of attendance. To calculate the amount earned, the school will determine the percentage by dividing the number of calendar days completed in the term up to and including the Last date of attendance by the total number of calendar days in the term.

If the student received more than the amount of Federal student financial assistance earned, the difference will be returned to the Federal student financial assistance programs from which funds were received in the following order: Unsubsidized Stafford Loan, Unsubsidized Direct Loan, Subsidized Stafford Loan, Subsidized Direct Loan, Perkins Loan, PLUS Loan, Pell Grant, SEOG.  Funds will be returned to the aid source within 45 days of the date that the school determines that the student has withdrawn.

If more Federal student financial assistance has been earned than has been received, the student may be eligible for a post-withdrawal disbursement. The school will notify the student of any post-withdrawal disbursement for which the student may be eligible and what steps need to be taken for the Federal financial assistance funds to be received.

If Federal student financial assistance funds need to be returned, the institution must return a portion or all of the unearned funds equal to the lesser of:

• The institutional charges multiplied by the percentage of the unearned Federal student financial assistance funds; or
• The entire amount of unearned funds.

If there are remaining unearned Federal financial aid funds to be returned, the student must return any loan funds that remain to be returned in accordance with the terms and conditions of the promissory note. If the remaining amount of funds to be returned include grant funds, the student must return any amount of the overpayment that is more than half of the grant funds received. The school will notify the student as to the amount owed and how and where it should be returned.

Students should also refer to “Withdrawal Policy” described in Academic Policies and Procedures .

Financial Aid Refund Policy

All student financial aid credits will be stipended to students not more than 14 days after:

• The date on which the funds causing the overage are applied to the account
• The first day of classes for the enrollment period for which the funds are intended, or
• The date the student requests the funds or rescinds permission for the campus to retain the funds¹

¹ If the student gives written permission, Argosy University may hold funds on their account. Students may rescind this permission at any time. Students receiving federal financial aid who withdraw or drop below half-time will have any credit balance on their accounts returned to their lenders or to the appropriate financial aid program.

Non-Federal Refund Policy (Minnesota)

Refunds for state aid programs and nonstate aid programs are calculated on a proportional basis using the state mandated or institutional refund policy. To calculate the minimum refund due to the Minnesota State Grant Program, the SELF Loan Program, and other Aid Programs (with the exception of the State Work Study Program), the MOHE Refund Calculation Worksheet, Appendix 14, of the Minnesota State Grant manual is used.

Loan Deferment

Loan deferments are accepted by the Student Services Department and processed by the National Student Loan Clearinghouse.

Student Tuition Recovery Fund — California

You must pay the state-imposed assessment for the Student Tuition Recovery Fund (STRF) if all of the following applies to you:

1. You are a student, who is a California resident and prepays all or part of your tuition either by cash, guaranteed student loans, or personal loans, and
2. Your total charges are not paid by any third-party payer such as an employer, governmentprogram or other payer unless you have a separate agreement to repay the third party.

You are not eligible for protection from the STRF and you are not required to pay the STRF assessment, if either of the following applies:

1. You are not a California resident.
2. Your total charges are paid by a third party, such as an employer, government program or other payer, and you have no separate agreement to repay the third party.

The State of California created the Student Tuition Recovery Fund (STRF) to relieve or mitigate economic losses suffered by California residents who were students attending certain schools regulated by the Bureau for Private Postsecondary and Vocational Education. You may be eligible for STRF if you are a California resident, prepaid tuition, paid the STRF assessment, and suffered an economic loss as a result of any of the following:

1. The school closed before the course of instruction was completed.
2. The school’s failure to pay refunds or charges on behalf of a student to a third party for license fees or any other purpose, or to provide equipment or materials for which a charge was collected within 180 days before the closure of the school.
3. The school’s failure to pay or reimburse loan proceeds under a federally guaranteed student loan program as required by law or to pay or reimburse proceeds received by the school prior to closure in excess of tuition and other cost.
4. There was a decline in the quality of the course instruction within 30 days before the school closed or, if the decline began earlier than 30 days prior to closure, the period of decline determined by the Bureau.