Any credit on an account will be refunded twice a year (in August and January). Please allow two weeks from the start of the payment period to receive your refund as enrollment status needs to be verified before disbursement can occur. Also, please budget carefully as UCFCOM cannot cover any shortages that you may encounter between payment periods.
If a student withdraws or goes on a leave of absence after the term has begun, direct costs may be pro-rated. Loan recipients must notify the College of Medicine Office of Student Financial Services of the enrollment status change and are required to have an exit interview counseling session.
The following statement serves as the current refund policy for UCF College of Medicine. The refund policy applies when a student:
UCF College of Medicine may reduce the percentage of tuition charges based on when the student withdraws (official withdraw or unofficial). We will determine the student’s last date of attendance even if the student doesn’t go through the official withdrawal/leave process.
The Director of Student Financial Services will revise the standard budget to reflect the adjustments to direct costs and will calculate an adjusted award.
If the student’s award package included any federal funds and the leave of absence or withdrawal occurs in the first 60% of the payment period, federal regulations require that a portion of the student’s federal aid be returned to the aid programs. For purposes of calculating the refund, the Aid Year will be divided into two separate enrollment periods, which coincide with the disbursement of aid. The portion of the aid to be returned is determined by a federally-mandated calculation based on the number of days remaining in the payment period, and the refund due to the aid programs is credited in the following order:
Refunds for students receiving university-sponsored aid, such as scholarships and grants, are subject to the same refund policy set forth in the Return of Title IV Funds. Exceptions to the refund policy for institutional aid may be made based on extenuating circumstances that are beyond the student’s control. Along with submitting the notification of withdrawal, the student must detail the extenuating circumstances and provide supporting documentation. The information will be reviewed by the Director of Student Financial Services and the Associate Dean of Student Affairs for a decision. Eligibility for renewal of institutional aid will also be rendered at that time. All decisions are final.
For more information on how the refund calculation process works, please schedule an appointment with the Director of Student Financial Services.