Student Financial Services Policies

Late Payment

Holds

If you have not completed payment or made payment arrangements before the payment due date, a financial hold will be placed on your account. Once payment is received, it may take up to one business day for the removal of your hold to be completed.

Past Due Balances

Until past due balances are paid in full, a late payment fee of $35.00 plus 1.5 percent of the outstanding balance will be charged monthly. If you make a payment for future semesters, that payment will first be applied to prior outstanding balances.

Financial Clearance

All balances, including tuition, fees, and interest, must be paid in full in order to register for the following semester, receive a transcript, or view final grades. Graduating students with outstanding balances will not be allowed to participate in commencement exercises. In addition, diplomas will be withheld from graduating students until the balances are cleared.

Personal Checks

While personal checks are accepted as payment of tuition and fees, a charge of $100 is assessed for each check returned unpaid by the bank. The College reserves the right to exclude the use of personal checks and may require payment by certified check or money order if an account is more than 90 days in arrears.

Collections

Delinquency of outstanding balances, including those from payment plans or financial aid reductions, are subject to collection by the College or its designated agents. There is no statute of limitations for outstanding financial obligations to the College. Student accounts that are sent to a collection agency are subject to additional collection costs.

Withdrawal and Refunds

Refund Policy

Refunds may be issued to a student when there is credit balance on their account resulting from overpayment, course withdrawal, excess financial aid funds, etc. Refunds are not issued until funds are actually received by the College. Title IV funds for students are generally received in the first week of classes and any resulting refunds are processed within fourteen (14) days of receipt.

The King’s College refunds are administered by Tuition Management Systems (TMS/Nelnet). Students are given the option of receiving their refunds either ACH or check. Students are notified by TMS/Nelnet when they are registered and may create their personal log-ins and select their preferences. If no elections are made, refunds are sent by check from TMS/Nelnet. Unless different written instructions are received from the student, refund checks are mailed to the permanent home address on file. Students may request to apply their credit balance to future semester charges by completing the appropriate authorization form with the Bursar.

When a student’s registration status changes and he or she is a recipient of financial aid funds, the student’s record must be reviewed by the Director of Financial Aid before a refund can be issued. Credit balances resulting from the disbursement of Direct PLUS Loans will be refunded directly to the parent unless written instruction is submitted to the Bursar by the parent authorizing the student to receive the funds.

Withdrawal Policy

Students who voluntarily withdraw from a course will be entitled to a refund of tuition and/or fees in keeping with the schedule below. The following schedule is based upon the date the written drop (withdrawal) request is received by the Registrar.

Failure to attend class does not constitute a withdrawal and does not entitle the student to a refund of tuition. Students who are administratively withdrawn for poor attendance will not receive any refunds.

Fall 2019 Semester

August 28 – September 13
100% Refund

September 14 – October 2
80% Refund

October 3 – October 21
60% Refund

October 22 – November 9
40% Refund

November 10 – November 28
20% Refund

After November 28
0% Refund

Spring 2020 Semester

January 22 – February 7
100% Refund

February 8 – February 25
80% Refund

February 26 – March 16
60% Refund

March 17– April 3
40% Refund

April 4– April 22
20% Refund

After April 22
0% Refund

The refund schedule will be prorated for terms shorter than a regular fall or spring term.

Treatment of Title IV Aid when a Student Withdraws

The law specifies how the College must determine the amount of Title IV program assistance that you earn if you withdraw from the College. The Title IV programs that are covered by the law are: Federal Pell Grants, Stafford Loans, PLUS Loans, and Federal Supplemental Educational Opportunity Grants (SEOG).

When you withdraw during a period of enrollment the amount of Title IV program assistance that you have earned up to that point is determined by a specific formula. If you, The King’s College, or your parent received more assistance that you earned based on your official withdrawal date, the excess funds must be returned to the Title IV program by you and/or the College.
If the College returns the funds on your behalf, any resulting debit balance on the student account is payable to the College.

Withdrawing From a Course

Students may withdraw from a course for several weeks after classes have been in session. The College establishes a final withdrawal date for each semester/session. (See the academic calendar for specific dates.) Full-time students should speak with the Director of Student Success prior to withdrawal. Please refer to the “Withdrawing from a Course” section under the “Academic Policies, Registration, Enrollment” portion of the Catalog for additional information.

As withdrawal may affect a student’s financial aid eligibility as well as charges for the semester, we recommend students speak with Student Financial Services prior to withdrawal.

Complete Withdrawal

Students withdrawing from all classes should complete the Exit Survey form on the Student Portal as the official notification that he or she is withdrawing. Students may also contact the Director of Student Success for assistance. Students living in campus housing are accountable for the remaining housing charges associated with the academic year. For more information, see “Housing Appeals.”

Students who plan to return within one or two semesters should select “Leave of Absence” in the “Reasons for Withdrawal” section of the Exit Survey.

Please refer to the “Withdrawing from a Course,” “Leave of Absence,” and “Complete Withdrawal” sections under the “Academic Policies, Registration, Enrollment” portion of the Catalog for additional information and the academic consequences of withdrawal.

Students who do not complete the Exit Survey are liable for active tuition charges incurred until the time the withdrawal is made official. Students should refer to the “Withdrawal and Refund Policy” schedule above to determine whether a refund is warranted after a voluntary withdrawal from the College. Fees are not refundable. Failing to attend classes does not constitute a withdrawal. Students who are administratively withdrawn for poor attendance will not receive any refunds.

Students who withdraw for extenuating medical circumstances must follow the process outlined in the “Medical Withdrawal” sections below and under the “Withdrawing from a Course,” “Leave of Absence,” and “Complete Withdrawal” sections of the “Academic Policies, Registration, Enrollment” portion of the Catalog.

Medical Withdrawal

A student may withdraw from the College due to medical or mental health reasons without academic penalty when it is determined that this is in the student’s best interest. Proof that the condition significantly impedes the student’s ability to perform academically is necessary in order for the student to be granted permission for a withdrawal without academic penalty. Students who are granted a withdrawal will receive Ws on their transcripts for each class in which they were enrolled that semester.

A request for a medical withdrawal can be submitted through the Request for Medical Withdrawal form on the Student Portal. The request must be submitted with a doctor’s note, hospital bill, or other documentation to verify the medical or mental health condition, the period of time the condition has occurred, and the attending physician’s or mental health practitioner’s recommendation for withdrawal. The request will go to the Assistant Dean of Student Academic Services who will confer with the Provost regarding the request.

If the request for medical withdrawal is granted, students may receive a partial cancellation of the current semester’s eligible tuition charges based on the Medical Withdrawal Refund Schedule, below. The following schedule is based upon the date the Request for Medical Withdrawal is received by the Assistant Dean of Student Academic Services. Fees are non-refundable. Students who live in campus housing may receive a refund of eligible housing charges for the current semester in keeping with the schedule below. The following schedule is based upon the date the Request for Medical Withdrawal is received by the Assistant Dean of Student Academic Services. Housing deposits are non-refundable. Students must move out of King’s Housing within seven days after the medical/mental health withdrawal is granted. Contact your housing director at housing@tkc.edu to arrange move-out details. See the Housing Contract regarding fees for leaving housing prior to the end of the academic year.

Involuntary Withdrawal

An involuntary withdrawal may be issued under extraordinary circumstances when a student is unable or unwilling to voluntarily withdraw from the College and there is compelling information to suggest that a student engages, or threatens to engage, in behavior which poses a direct threat to themselves or others as a result of physical or psychological illness.

This policy will not be used in lieu of disciplinary actions to address violations of The King’s College Honor Code and other College policies regarding standards of conduct. For more information about the conditions under which a student would be involuntarily withdrawn, and procedures for doing so, see the Involuntary Withdrawal section of the Student Handbook.

Leave of Absence

If a student in good academic standing wishes to withdraw completely from the College, but intends to continue studies in a later semester they may qualify for a leave of absence. It should be noted that students who have been approved for leave of absence have no official enrollment standing at the College.

A student who does not return to the College before the add/drop date (ten days after classes commence) of the semester following his or her departure must complete an “Application for Re-Admission” available on the College website and work directly with the Office of Admissions. Upon review, the student is bound by the academic requirements in effect at the time of re-admission.

Enrollment Deposit Refunds

In order to receive a refund on either an early action or regular enrollment deposit, requests for enrollment cancellations and refunds must be submitted to the Admissions Office by May 1st, 2019 (for fall students) and November 15, 2019 (for spring 2020 students). To process the cancellation, the student must complete a short cancellation survey over the phone or in person with an Admissions Counselor.

Housing Refunds

The Housing Deposit ($200) is refundable until May 1, 2019. The Housing Contract will go into effect on June 1st, 2019.

  • If a student cancels his/her deposit between June 1, 2019 and August 1, 2019: $500 Penalty
  • If a student cancels his/her deposit after August 1, 2019: The student is subject to the terms of the Housing Contract and may be required to pay the cost of housing for the semester. Housing charges and refunds are governed by the signed contract between the student, any co-signer of the contract, and the College. If there are extenuating circumstances for consideration, a student or their co-signer may file an appeal to be relieved of a portion of the charges through the housing appeals process.
Housing Appeals Process

The Housing Appeals Committee fields any dispute a student may have regarding his or her housing contract. Students wishing to appeal a housing contract must submit a formal letter, in writing, to the Assistant Director of Student Life who will convene the Housing Appeals Committee. The committee thoroughly reviews the appeal and determines the final decision. The Assistant Director of Student Life will then contact the appealer in a formal letter.

Disclosures

Financial Aid Verification Policy

As part of the financial aid application process, some students are selected for a process called “verification.” This means we will request additional documentation to verify the information provided on the FAFSA. Not all students will be asked for the same information. In addition, the need to verify is assessed each year, so a student may be selected one year but not another. Or, a student may be asked to submit the same information each year. Either way, the goal is to have an accurate assessment of a family’s financial situation. Finally, at any point in the award processing, if we find it necessary, we may require additional information.

Special Provision for Books and Supplies

By the seventh day of a payment period, upon request, Pell Grant-eligible students may obtain books and supplies required for the payment period, if

  • Disbursement of those funds would have created a credit balance in federal student aid funds, and
  • Ten days before the beginning of the payment period, the student meets all the student eligibility requirements. (A student who has not completed the verification process, has an unresolved “C” code on the SAR, or has unresolved conflicting information is not covered by this provision.)

The amount provided will be either the presumed credit balance, or the actual amount determined that the student needs to obtain the books and supplies (whichever is less).

Financial Aid Eligibility for Approved Study Abroad Programs

Students may be eligible to receive federal financial aid for study abroad semesters, provided the program has been approved for credit by the Registrar’s Office. Students considering study abroad are encouraged to consult with the Financial Aid Office early in the process in order to determine available options.

Appeal Procedure Explanation

The Financial Aid Office is aware that financial situations can change due to circumstances beyond the student’s control. Often this hinders their ability to pay for college costs and is not reflected properly on the FAFSA. In these circumstances, the Department of Education gives us the authority to adjust a family’s financial information to more accurately portray their situation, allowing the student to be considered for additional financial aid.

Some circumstances that may warrant an appeal are:

  1. Loss of income due to unemployment
  2. High unreimbursed medical and/or dental expenses
  3. Recent change in parents’ marital status
  4. Parent recently passed away

If you have an unusual circumstance of this nature and would like to be considered for additional aid, please follow the steps below.

The following situations do not merit an appeal:

  1. Younger siblings are enrolled in private school
  2. You do not wish to take out loans for your education
  3. Your family has made commitments to give sacrificially to ministries
  4. Your parents will not be contributing to your education costs
Steps in Filing an Appeal
  1. Submit Your FAFSA ‐ Even if you think you may be eligible for an appeal, you must first file a FAFSA with current information exactly as it appears on your tax documents, as well as provide any additional documentation that is requested. You will then be provided a financial aid package based on those figures.
  2. Contact the Student’s Admissions Counselor* – If, after viewing the award package, you feel that your circumstance prevents King’s from being an affordable option, you should contact the student’s admissions counselor. The counselor will then help you determine the best course of action regarding your situation, including filing an appeal if appropriate. We encourage you to be as open about your situation as possible when speaking with your counselor as you can be assured that any information that you provide will be held in the strictest confidence.
  3. Provide Requested Documentation – The student’s counselor will be able to determine what documentation will be necessary to present your appeal to the Appeal Committee. These documents will fall into one of two categories.
    • Verification Documents – Before we reconsider an appeal for additional aid we will ensure that information used for the initial award was accurate. You may need to provide IRS verified tax information, W2s, Verification Worksheets and/or other documents as requested.
    • Appeal Documents – These are documents that support the reason for your appeal. This may include things like an Appeal Application or a Projected Income Form, as well as outside documentation such as copies of medical bills or pay stubs. The documents you will be asked to provide depend on the nature of your individual situation.
  4. Await a Decision – After receiving all requested information, the counselor will prepare your appeal for presentation to the Appeal Committee, who will make the final decision. Your counselor should be able to give you an approximate timeline of when you can expect to receive the committee’s decision. Please be patient with the Appeal Committee as they consider the details of your request. The appeal process is very complex and it may take several days or even weeks before a decision is made. We realize how important the committee’s decision is to you and will do our best to provide you with the results as soon as possible.

*Current students wishing to inquire about the appeal process may contact Student Financial Services at financialservices@tkc.edu or 646-237-8902.