Section Six, Financial Policies and Assistance

Tuition and Fees

A “Schedule of Tuition and Fees ” is contained in Appendix IV 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.

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 in the absence of a signed Student Authorization Form.

For detailed information on all financial aid awards, processes, requirements, and deadlines, please refer to the school’s current Financial Aid Guide or contact the Student Financial Services Office directly.

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.

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.  For further details or an estimated cost of attendance budget, please refer to the Student Consumer Information website page for each campus location. 

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 Unsubsidized Stafford Loan

This is a fixed rate loan, administered by the Federal Government 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 (Graduate Plus Loan)

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 Financial Aid Guide, 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 Section Seven, Academic Policies and Procedures  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. 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
• Argosy University Institutional Financial Aid Application
• Completed loan entrance interview (if required)
• Stafford Master Promissory Note (if required)
• 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 eligibility on the student portal. If the Federal  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 www.studentloans.gov.

Applications for the Federal Grad PLUS loans and alternative loans are available at www.studentloans.gov.

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 Georgia, Tennessee, Virginia, and Wisconsin who drop all courses in a semester, whether through providing notification to the University or ceasing attendance without notification. 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. If a student is enrolled in course(s) across the entire semester, the evaluation period for the refund percentage will be the entire 15-week semester. If a student is only enrolled in course(s) in one session during the semester due to an approved reason for exception to the continuous enrollment policy, the evaluation period will be for that session of instructional time. For new undergraduate students registering in the second or third starts in a semester, the evaluation period is over their first three sessions of enrollment.

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 date of determination.

Campus-Based Programs

 Argosy University Online Programs

State Refund Policies

The following state refund policies apply the day after the applicable add/drop date for the term.

Georgia State Refund Policy

All Programs

The Georgia State Refund Policy applies to students who drop all courses in a semester from Argosy University Online Programs or Argosy University, Atlanta whether through providing notification to the University or ceasing attendance without notification. Students dropping all courses in a semester are considered withdrawn for refund purposes and are subject to the Return of Title IV Funds Policy. Georgia students are entitled to a full refund of all monies paid, including application fees, if the student requests a refund within three (3) business days after signing an enrollment agreement.

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

Florida Cancellation Policy

Campus-Based Programs

Nonrefundable fees regarding admission and registration of Florida students shall not exceed $150. The refund policy stated herein does not apply to dormitory or meal fees. Refund policies for those fees, if charged, are mandated by the institution and disclosed in conjunction with the refund policy.

Iowa State Policy

Argosy University Online Programs

Students taking online courses from their home state of Iowa who withdraw from their course(s) will receive a prorated course refund based on their official last date of attendance (LDA).

Tuition refunds will be determined as follows:

Maryland State Refund Policy

Argosy University Online Programs

The Maryland State Refund Policy applies to students who are residents of Maryland. A Maryland student that withdraws or is terminated after completing only a portion of a course, program, or term within the applicable billing period is as follows:
 

Refunds are made within 60 days from the date of withdrawal or termination.

Virginia State Policy

Campus-Based Programs

The Virginia state policy applies to students who attend the Argosy University, Washington DC campus located in Arlington, VA. Virginia students who cancel any obligation within three business days of the original commitment will be provided a full refund, less a $100 administrative (registration) fee.

A Virginia student will be considered withdrawn from Argosy University after seven consecutive instructional days after the last day on which the student actually attended the school. Termination may be effected earlier by written notice. In the event that a written notice is submitted, the effective date of termination will be the date the student last attended classes. Argosy University will earn tuition and fees based on when the student last attended as follows:

• After the first day of classes and before the first 25% of the semester, 50% refunded
• Between 25% and 50% of the semester or instructional time, 25% refunded
• After 50% of the semester or instructional time, 0% refunded

Argosy University Online Programs

Argosy University will earn tuition and fees for its online programs based on when the student last attended as follows:

• After the 5th calendar day following the date of enrollment but prior to receipt by the school of the first completed lesson assignment, all moneys paid to the school shall be refunded, except the administrative (registration) fee of $100.

If a student enrolls and withdraws after submission of the first completed lesson assignment, but prior to the completion of the program:

• After starting the program and before the first 25% of the semester or instructional time, 75% refunded
• Between 25%, but less than 50% of the semester or instructional time, 50% refunded
• More than 50%, but less than 75% of the semester or instructional time, 25% refunded
• After 75% of the semester or instructional time, 0% refunded

The percentage of the program completed shall be determined by comparing the number of completed lesson assignments received by the school to the total number of lesson assignments required in the program.

Fractions of credit for courses completed shall be determined by dividing the total amount of time required to complete the period or the program by the amount of time the student actually spent in the program or the period or by the number of correspondence course lessons completed, as described in the contract.
 

Tennessee State Policy

All Programs

The Tennessee state policy applies to students who attend Argosy University Online Programs and Argosy University, Nashville which is located in Nashville, TN. Tennessee students have the right to cancel their enrollment agreement and receive a full refund of all charges, less a $100 administrative (registration) fee, if the student withdraws on or before the first class. Argosy University will earn tuition and fees based on when the student last attended as follows:

• On or before the first day of classes, or fails to begin classes, the refund shall equal the sum of all amounts paid for the period of enrollment, less an administrative (registration) fee of $100.
• After the first day of class, but before the first 10% of the semester or instructional time, 75% refunded
• After 10%, but before 25% of the semester or instructional time, 25% refunded.

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

Wisconsin Refund Policy

Argosy University Online Programs

The student will receive a full refund of all money paid if the student cancels within the three-business-day cancellation period; the student accepted was unqualified and the school did not secure a disclaimer; the school procured the student’s enrollment as the result of false representations in the written materials used by the school or in oral representations made by or on behalf of the school. The school will issue refunds within 10 business days of cancellation.

Partial Refund 

A student who withdraws or is dismissed after the three-business day cancellation period, but before completing 60% of the potential units of instruction in the current enrollment period, shall be entitled to a pro rata refund, as calculated below, less any amounts owed by the student for the current enrollment period, less a one-time application fee of $50 and the enrollment fee of $100.

Pro rata refund shall be determined as the number of units remaining after the last unit completed divided by the total number of units in the enrollment period, rounded downward to the nearest ten percent. Pro rata refund is the resulting percent applied to the total tuition and other required costs paid by the student for the current enrollment period.

The school will make every effort to refund prepaid amounts for books, supplies and other charges unless the student has consumed or used those items and they can no longer be used or sold to new students, or returned by the school to the supplier.
The school will issue refunds within 40 days of the effective date of termination. A written notice of withdrawal is not required. The student is considered withdrawn from the school if the student fails to attend classes, utilize instructional facilities, or submit lessons, without providing an explanation to the school regarding the inactivity for 15 days.

No refund is required for any student who withdraws or is dismissed after completing 60% of the potential units of instruction in the current enrollment period unless a student withdraws due to mitigating circumstances, which are those that directly prohibit pursuit of a program and which are beyond the student’s control.

Adjustments of the Tuition and Fee Charges

Before Attending Any Units of Instruction

100% refund less a one-time application fee of $50 and the enrollment fee of $100.
  

 As part of this policy, the school may retain a one-time application fee of no more than $50.

Course Add/Drop Refund Policy

Campus-Based Programs

Students dropping a course must provide official notification to the Student Services Department by completing an Add/Drop Form. Actual tuition amounts will be adjusted according to the tier structure listed in Appendix IV, Schedule of Tuition and Fees .

Students dropping all courses in a semester or ceasing attendance in accordance with the University’s attendance policy are considered withdrawn for refund purposes and are subject to the Institutional Refund Policy as published in this Academic Catalog. If a student drops a Session I course and intends to enroll in a Session II course, then he or she must complete a Voluntary Intent to Continue form within four days of the date of determination of dropping the Session I course in order for a return of Title IV review not to be required.

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

 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.

Institutional Refund: Course Drop and Withdrawal  Refund Deadlines

In order to receive a refund of 100 percent, students must officially drop a course or withdraw from the University through Student Services by the following dates.

Fall 2012 Deadlines

Spring 2013 Deadlines

 Summer 2013 Deadlines

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, 7.5 week, and 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 Perkins Loan
3. Federal PLUS
4. Other federal, state, private, or institutional aid programs, if required by the program
5. 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.

Campus-Based Programs

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 there is a scheduled break of five or more days, it will reduce the term length and if scheduled break is before the student’s last date of attendance, it will also reduce the calendar days completed.

Argosy University Online Programs

When a student withdraws from the payment period, the amount of federal financial aid assistance the student earned is determined by a specific for¬mula. Scheduled breaks of at least five consecutive days and days in which the student was on an approved leave of absence are excluded from this calculation. Generally, a payment period consists of 18 credits. If the student received less assistance than the amount the student earned, the student may be able to receive those additional funds as a post-withdrawal disbursement. If the student received more assistance than the amount the student earned, the excess funds must be returned by the University and/or the student. The excess funds could result in an overpayment. The amount of assistance the student earned is determined on a rate-of-progression basis. When the student completes more than 60 percent  of the payment period, the student earns all the assistance scheduled for that payment period.

All Programs

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 Section Seven,  Academic Policies and Procedures.

Financial Aid Stipend Return 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 date the student requests the funds or rescinds permission for the campus to retain the funds¹

¹ If the student gives written permission via the Authorization to Hold form, 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 non  state 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.