Payments and Withdrawal & Refunds Policy
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The University billing system provides a central financial account against which most student expenses incurred at the University will be posted, including but not limited to tuition, housing charges, parking, library fines, etc. This policy, when referring to tuition and other charges, includes any and all charges posted to this account.
All payments of tuition and other University charges are due and payable on the dates specified in the published calendars of the programs in the School of Medicine. Failure of a student to register when required, and pay tuition and other charges incurred on or before the date specified in the published calendar, will result in a late fee of $50 to be added to the amount due. The late fee will be imposed seven days after the due date if full payment has not been received. Tuition and other charges are usually payable twice a year, at the start of the academic year, and again at the middle of the academic year, as listed on the schedule on the academic calendar.
In addition to the $50 late fee, any payment due from the student and not paid by the specified date will accrue interest at the current market rate in effect on the first business day of the month in which the payment is due. This fee will be imposed on any accounts not paid in full within 30 days of the due date. Any amount not paid when due (plus accrued interest thereon) must be paid in full within three months of the due date to avoid potential suspension from classes.
If a student fails to make payments within three months of the original due date, the School will not release the student’s academic record, grade reports or transcript, pending settlement of the unpaid account. A student who has not satisfied all of his/her delinquent financial obligations to Washington University (tuition, University housing, parking, etc.) one month before the end of the academic year will not be allowed to progress to the next academic year, nor can they be issued a diploma.
Federal financial aid funds for the next academic year cannot be disbursed until all prior year balances are paid in full.
Students who rely on financial aid funds to meet their obligations should submit their applications for processing according to application deadlines published by the Office of Financial Aid. Deadlines allow for receipt of financial aid funds by payment due dates if applications are filed by the deadline. The Office of Student Financial Aid will assist students with loan applications and financial planning upon request.
A student who withdraws or takes a leave of absence from the School will receive a pro rata refund of tuition and appropriate fees. The refund will be based on the ratio of the class days enrolled (from the first day of classes to the termination date) to the total number of class days in the term for which tuition and fees were paid. It is understood that the date on which a student formally notifies the Registrar’s Office in writing of the decision to withdraw or take a leave of absence from the School of Medicine shall be regarded as the termination date, with no retroactive clause to be accepted. A prospective date will be accepted, however. If tuition and fees were paid entirely or in part by financial aid from the School, the refund will be applied first to the total repayment of the accounts from which financial aid was drawn, with any remaining refund balance given to the student. Financial aid received in excess of the costs of tuition and fees must be refunded by the student to the School on the same pro rata basis as calculated for the tuition refund outlined above – per “Return of Title IV” Federal guidelines. Any questions about these policies may be directed to either the Office of the Registrar or Financial Aid.