NLU Withdrawal & Refund Policy
A. Withdrawal from a Course
This policy applies to students who withdraw from one or more courses but do not withdraw from all coursework for a term. Courses from which a student withdraws on or prior to the last day of the designated drop period will have an indication of drop entered in the student system. Drop periods are set by University policy and are based on the student type and level. Students will receive a full refund of the tuition charge for all courses with a drop designation. Students who withdraw from a course(s) after the drop period will receive a "W" grade and will not receive a tuition credit unless the student completely withdraws from the University. For more information regarding when a "W" grade applies, see the Registration and Credit section of the NLU catalog.
B. Withdrawal from the University
For refund purposes, a student is determined to have withdrawn from the University when that student drops or withdraws from ALL coursework for a term. National-Louis University adheres to a fair and equitable refund policy for students who withdraw from the University.
In order to obtain a refund, the student must officially withdraw in writing through the Office of Admissions and Records. In states that have a Consumer Right-of-Rescission Law, the University abides by the state law. To receive a full refund, the student must execute the Right-of-Rescission Law within three business days of signing the enrollment agreement and prior to the first class session.
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Withdraw prior to the start of the term: 100% refund
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Withdraw during the first week: 90% refund
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Withdraw during the second week: 80% refund
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Withdraw during the third week: 70% refund
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Withdraw during the fourth week: 60% refund
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Withdraw during the fifth week: 50% refund
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Withdraw during the sixth week: 40% refund
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Withdraw during the seventh week or later: no refund
Refunds for withdrawals from non-standard length terms through the 60% point of term will be pro-rated to the nearest 10% based on the calendar point in the term the withdrawal occurs. Students in programs in terms that are longer than 14 weeks in length with all courses in the term scheduled sequentially, will receive a refund for the tuition of a course that was not scheduled to begin until after the date of withdrawal.
C. Policy for Issuing Cash Refunds to Financial Aid Students
National-Louis University applies financial aid to billing accounts by term and does so after the last day that a student is allowed to add courses or drop courses without penalty for the respective term.
For students taking courses on the traditional quarter calendar, previously awarded financial aid, excluding loan funds, is credited to charges during the third week of classes. From that point forward, financial aid is posted on a rolling basis as financial aid awards are processed. Loan funds are posted to student accounts within three business days of receipt from the lender. Lenders do not forward funds prior to the first day of the third week.
For students participating in field-based programs offered on a non-traditional calendar, financial aid, excluding loan funds, is disbursed on the later of the first day of class for a term or the date that the award is processed. Lenders forward loan funds beginning with the second week of classes. Note: funds are not received from a lender for at least 10 days from the date that the University's Student Finance Office receives the Loan Authorization Form. Additionally new borrowers must have returned a Master Promissory Note to the lender.
If the application of financial aid or other resources to a student's account results in a credit balance (excess cash), a refund check is issued to the student. The University's goal is to process refund checks twice weekly but never later than 14 days after the date that the credit balance occurs.
Note: Funds are not received from a lender for at least 10 days from the date that the University's Student Finance Office receives the Loan Acceptance Form from the student. Additionally, new borrowers must have completed and returned a Master Promissory Note to the lender before the lender will release loan funds.
If the application of financial aid or other resources to a student's account results in a credit balance, a refund check is issued to the student. The University's goal is to process refund checks twice weekly but never later than 14 days after the date that the credit balance occurs.
In general, institutional aid can only be applied to NLU tuition charges and is not refundable to students. The combination of all restricted grants, scholarships and vouchers is capped at a maximum of tuition and fees.
