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      Withdrawal/Refund Policy

    Financial Aid Refund and Repayment

    Students enrolled at Stevens Institute of Technology who are receiving federal Title IV financial aid (e.g., federal Direct, Direct PLUS, or Perkins loans; federal Pell or federal Seog grant funds) are required to return the portion of their unearned Title IV financial aid if they withdraw or otherwise fail to complete the period of enrollment for which the Title IV aid was provided. The return of funds does not apply to any student whose date of withdrawal is beyond the 60 percent point of the enrollment period for which the student has been charged. The last date of attendance is determined by the date the student began the Instituteís official withdrawal process, the studentís last date of verified attendance (e.g. turning in home work or taking test), or the midpoint of the semester for a student who leaves without notifying the Institute.

    To determine the percentage of aid earned, divide the number of calendar days completed by the total number of calendar days in the enrollment period (excluding scheduled breaks of five days or more AND days that the student is on approved leave of absence).

    Federal financial aid is returned to the program from which it was disbursed based on the percentage of unearned aid. To determine the percentage of unearned aid, subtract the percentage of aid earned from 100. The percentage of unearned aid is then multiplied by the amount of aid disbursed toward allowable institutional charges (e.g., tuition, room, and board).

    Generally speaking, fees are non-refundable (i.e. student activity, registration, late payment, laboratory, matriculation, transcript, technology, and other special fees), A refund schedule of tuition and room and board charges based on a 15-week semester breakdown; please see schedule below.

    Students must officially withdraw in writing to the respective Dean of Faculty for Undergraduate and Graduate academics: The Dean will determine the official withdrawal date for tuition and fees.

    Undergraduate Leave of Absence/Withdrawal Policy
    Graduate Leave of Absence/Withdrawal Policy

    Students must officially withdraw from housing and/or the meal plan in writing to the Office of Student Housing and Dining Services. The Office will determine the official withdrawal date for housing and meal plans (which may be different than the date determined by the Dean). All tuition, fees, housing and meal plan charges will be reversed on the official withdrawal date and will be calculated from the official opening date of the semester in accordance with the following schedules (meal plans follow same schedules):

     

    Regular Academic Semester

    • Through the first day of the semester (less deposits)
      100%
    • After the first day of the semester through the second week of the semester
      90%
    • After the second week of the semester through the fourth week
      50%
    • After the fourth week of the semester through the eighth week
      25%
    • Thereafter
      0%
     
     

    Summer Session

    • Through the first day of the semester (less deposits)
      100%
    • After the first day of the semester through the first week of the semester
      90%
    • After the first week of the semester through the second week
      50%
    • After the second week of the semester through the third week
      25%
    • Thereafter
      0%
     
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