Students who are eligible for refunds due from federal loans or other overpayments will receive a refund within 14 days from the time it is posted/updated to the student’s account. Students receiving bank loans may have funds in excess of first semester charges. These excess funds may be used to defray second semester charges. If a student wishes to voluntarily leave his/her credit for the next semester, this request must be made in writing and submitted to the Office of the Bursar.
Liberty Bank-Student Debit Card
Liberty Bank – “Student Debit Card” was designed to fit those hectic, busy lifestyles of today’s college students. This card goes beyond a conventional checking account. The Liberty Card gives you a faster way of accessing your student refund and student payroll monies through an account. No checks, no checkbooks, pens, and two forms of identification. Just swipe the card and enter your PIN code and you have immediate access to your money on both refund and student payroll days. The card also offers you a more economical way of account management, in that; it eliminates the need to purchase checks, which will save you money in check-printing charges. Moreover, Liberty Bank’s Student Debit Card is a convenient way to buy the products and services you need. Use your card wherever VISA debit card is accepted. It’s the withdrawing; depositing and transferring funds card all in one. All students receiving federal student aid that includes refunds, work-study and work-aid are required to have a Liberty Bank Student Debit Card. Please visit them on the web at www.libertybank.net.
Tuition Refund Policy
Students who withdraw from classes may be due a refund of all or a portion of their tuition and fees. Full refund of tuition is usually allowed before classes start and a prorated refund after the beginning of the semester. Refunds as a result of official withdrawal will be made according to the schedule below. If you withdraw completely from the College and have received financial aid, you may be required to repay some or all of that aid. Financial Aid recipients are subject to a Federal Refund Policy, which supersedes the College’s refund policy. Any student who fails to withdraw properly will be responsible for all tuition and fees incurred based on federal refund policy. Please check with the Financial Aid Office and the Bursar’s Office regarding the status of your account. Any student dismissed by the College for disciplinary reasons shall not be entitled to any tuition, fee credit or refund. For additional information, contact the Office of the Bursar. The refund schedule is as follows:
|Segment of Semester (Fall and Spring)||Refund|
|Withdrawal within the First week of classes||50%|
|Withdrawal within the Second week of classes||40%|
|Withdrawal within the Third week of classes||30%|
|Withdrawal after the Third week of classes||No Refund|
|Segment of Semester (Summer)||Refund|
|Withdrawal within the First day of classes||50%|
|Withdrawal within the Second day of classes||40%|
|Withdrawal within the Third day of classes||30%|
|Withdrawal after the Third day of classes||No Refund|
Federal Aid Recipients
Federal regulations require schools participating in the Student Financial Aid Programs to use specific refund policies for when students who receive financial aid withdraw from the College. This policy applies to tuition, fees, and room and board.
If a student withdraws from Tougaloo College and is receiving federal financial aid, a portion of these funds may need to be returned to the federal aid programs and/or lender for Stafford Loans based on the following:
The student withdraws before completing 60% of the semester; the student is only entitled to federal aid based on the percentage of time that was completed. Pro-rata funds are calculated and determined by the percentage of the semester that has been completed up to and including the official date of withdrawal.
Based on this calculation, the College determines the amount of financial aid that is unearned and is responsible for returning any portion necessary to the appropriate financial aid programs and/or lender. Financial aid funds are returned to the federal programs in the following order: Unsubsidized Federal Stafford Loan; Subsidized Stafford Loan; Federal Perkins Loan; Federal PLUS Loan; Federal Pell Grant and SEOG. Any remaining credit balances will then be returned to the state, college and/or student. Withdrawal from the College could result in a balance owed to the College for federal aid that must be returned to the federal programs and/or lender. No refunds will be made after the 60% point of the semester.
Federal Work Study/Work Aid
Tuition and fees are due in full at registration. However, Tougaloo College understands that additional aid may be required to cover the cost of attendance. That is why we participate in the Federal Work Study (FWS) and Work Aid programs. These programs provide jobs to students with financial need, allowing them to earn money to help finance their education. Students earn an hourly wage and are paid once a month. The Bursar’s office will apply these earnings directly to any outstanding debt owed to Tougaloo College. After the full balance has been paid, Tougaloo College will deposit any remaining work-study or work-aid funds into their Liberty Bank account on the last working day of the month.
Agreement to Pay Costs of Collection and Legal Fees
In consideration for enrollment as a student at Tougaloo College, the student assumes full responsibility for the payment of all fees and charges, including interest and penalties, that incur or that may be assessed for enrollment in any current enrollment period or thereafter. These fees and charges include, but are not limited to, tuition, room, board, student activity fees, bookstore and laboratory charges, traffic fines and any interest, deferment charges, late charges, or penalties pertaining to any of these fees and charges.