Federal Regulations require schools participating in the Student Financial Aid Programs to use specific refund policies for students who receive financial aid withdraws from the college. This policy applies to tuition, fees, and room and board.
For withdrawal prior to the first day of classes, a student receives a 100% refund.
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:
- If a student withdraws before completing 60% of the semester, the student is only entitled to federal student aid based on the percentage of time that was completed. Pro-rata refunds are calculated and determined by percentage of the semester that has been completed up to and including the official date of withdrawals.
- 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 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 after the 60% point of the semester.
Refund Policy for Students Not Receiving Federal Financial Aid
The refund policy for students who are not federal aid recipients applies to tuition, fees, and room and board charges.
Tuition refunds are made according to the following schedule:
Within the first week of the semester ...........60%
Within the second week of the semester.....50%
Within the third week of the semester...........30%
After the third week of the semester..............None