Withdrawal and Return Policies

When a student withdraws from the College or any course, the law specifies how the school must determine the amount of Title IV program assistance that was earned.
The Title IV programs administered by Premiere International College that are covered by this law are:

• Federal Direct Unsubsidized Loans
• Federal Direct Subsidized Loans
• Federal Direct PLUS loan(s) (Graduate PLUS and Parent PLUS)
• Federal Pell Grant
• Other Title IV Aid

When a student withdraws during their payment period, the amount of Title IV program assistance that the student earned up to that point is determined by a specific formula. If you received (or your school or parent received on your behalf) less assistance than the amount that you earned, you may be able to receive those additional funds. If you received more assistance than you earned, the excess funds must be returned by the school and/or you.

The amount of assistance that you have earned is determined on a pro rata basis. For example, if you are scheduled to complete 30% of your payment period, you earn 30% of the assistance you were originally scheduled to receive. Once you are scheduled to have completed more than 60% of the payment period, you earn all the assistance that you were scheduled to receive for that period.
The College will use a Department of Education approved refund calculation that determines the percentage of Title IV funds earned by the student. If the student did not receive all of the funds earned, the student might be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds, the College must obtain the student’s permission before it can disburse funds.

There are some Title IV funds that a student might have been scheduled to receive that cannot be disbursed once the student withdraws because of other eligibility requirements.
For example, if the student is a first-time, first-year undergraduate student and has not completed the first 30 days of his/her program before he/she withdrew, then the student will not receive any Direct Loan funds that he/she was eligible to receive had he/she remained enrolled past the 30th day.
If a student (or the parent or College on the student’s behalf) receives excess Title IV program funds that must be returned, the College must return a portion of the excess equal to the lesser of:

• Student’s Collegial charges multiplied by the unearned percentage of the student’s funds, or
• Entire amount of excess funds
• The College must return this amount even if it did not keep that amount of the student’s Title IV program funds.

If the College is not required to return all of the excess funds, the student must return the remaining amount. Any loan funds that the student (or the parent for a Direct PLUS Loan) must return must be repaid in accordance with the terms of the Master Promissory Note. That is, the student may make scheduled payments to the holder of the loan over a period of time.

Any amount of unearned federal grant funds that a student must return is called an overpayment. The maximum amount of a Grant overpayment that a student must repay is half of the Grant funds received or scheduled to receive. The student does not have to repay a grant overpayment if the original amount of the overpayment is
$50.00 or less. The student must make arrangements with the College to return the unearned grant funds.
The requirements for return of Title IV program funds when a student withdraws are separate and different than Premiere International College Collegial Refund Policy. Therefore, the student may still owe funds to the College to cover unpaid Collegial charges. Premiere International College may also charge the student for any Title IV program funds that the College was required to return on the student’s behalf.

Up to the 60% point in each period of enrollment, a pro rata schedule is used to determine the amount of funds the student has earned at the time of withdrawal Premiere International College refunds the actual percentage of unearned aid up to the date of withdrawal After the 60% point in the period of enrollment, a student has earned 100% of the aid funds awarded for that period and all aid funds will remain on the student’s account. In instances when a Service member stops attending due to a military service obligation, PIC will work with the affected Service member to identify solutions that will not result in student debt for the returned portion.

Should the College cancel a program for any reason, enrolled students will receive a full refund. Should the student be terminated or cancel for any reason, all refunds will be made according to the following refund schedule

1. Cancellation can be made in person, by electronic mail, by certified mail or by termination.
2. All monies will be refunded if the school does not accept the applicant or if the student cancels within 3 business days after signing the enrollment agreement and making initial payments.
3. Cancellation after the 3rd business day, but before the first class, will result in a refund of all monies paid, with the exception the registration fee of $150.00.
4. Cancellation after attendance has begun, through 40% completion of the program, will result in a Pro Rata refund computed on the number of hours completed to the total program hours.
5. Cancellation after completing more than 40% of the program will result in no refund.
6. Termination date: When calculating the refund due to a student, last date of actual attendance by the student is used in the calculation unless earlier written notice was received.
7. Refunds will be made within 30 days of termination of the student enrollment or receipt of a Cancellation Notice from the student.