Payment of Fees
Tuition and fees for the current academic year are available at: http://www.loras.edu/financial-aid/.
All fees are billed by the term and become an obligation at the time of registration for that term. Statements will be published online for all registered students in early July for the fall term, early December for the Spring and May terms, and in early May for the summer term. By registering for classes, the student is automatically enrolled in a monthly installment payment plan for the fall and spring terms. Continued enrollment at Loras College is conditioned on the acceptance and understanding of the Terms and Conditions of the payment plan. It is important that the student understand the Terms and conditions which apply to the payment plan and agree to be bound by the terms. To view the terms and conditions statement for the payment plan, visit the online student account system, select Installment Payment Plan Details, View Agreement. Payment of all charges not covered by financial aid or loans is due by August 15 for the fall semester, December 15 for the spring semester (includes May term fees), and June 15 for the summer term. Loras College also offers an option of paying in four installments per semester during the fall and spring semesters. Details about the payment plan option are sent to registered students in July and November each year. A $50 nonrefundable service charge is assessed each month to those who do not fulfill their monthly payment requirement.
Section 103 Compliance Policy
Loras College abides by Section 103 of the Veterans Benefits and Transition Act of 2018. In the case where a student is a Chapter 31 or Chapter 33 student and his/her tuition funds are paid by the U.S. Department of Veterans Affairs, the College will abide by the following guidelines:
Loras College will not impose any penalty including: 1) the assessment of late fees; 2) the denial of access to classes; 3) libraries or other institutional facilities and /or 4) the requirements that a Chapter 31 or Chapter 33 recipient borrow additional funds to cover the individual’s inability to meet his or her financial obligations to institution due to the delayed disbursement of a payment by the U.S. Department of Veterans Affairs.
Once registered at Loras College, a student assumes the responsibility for the payment of all tuition and fees. If plans change and the student needs to withdraw from the College, the proper paperwork must be completed with the Academic Success Coordinator. The process for officially withdrawing from Loras College is outlined in the current Undergraduate Bulletin and Graduate Bulletin. Students should refer to the bulletin that is appropriate for their status.
An undergraduate or graduate student who withdraws from Loras College may receive a full or partial refund (credit) for tuition, fees, housing, and meal plan.
Students who drop a semester-long course during the first week of the fall and spring terms will receive a 100% refund of tuition and course fees. Students who withdraw from a semester-long course after week one are subject to the following refund schedule:
Week 2- 75%
Week 3- 50%
Week 4- 25%
Week 5- No Refund
Students who withdraw from a 7-week course are refunded on the following refund schedule:
Week 1- 100%
Week 2- 50%
Week 3- No Refund
Students who withdraw during the summer term are refunded on the following refund schedule:
Class Day 1- 100%
Class Day 2- 75%
Class Day 3- 50%
Class Day 4- 25%
Class Day 5- No Refund
Students who withdraw during the May term are subject to the May Term policy.
All students should take particular note that tuition charges create a personal debt to the College. Loras College proudly partners with GradGuard to offer tuition insurance. The Tuition Protection Plan can reimburse up to 100% of your non-refundable tuition and housing costs if you need to leave school for a covered illness, psychological condition, or injury. Students receiving financial aid should be aware that, although the tuition charges are incurred upon enrollment, a student who withdraws at any point during the year is subject to a reduction in financial aid in accordance with the governing policies of the individual aid program. For students beginning their education at Loras College in the Fall of 2022, or after, institutional and state scholarships and grants are not earned until after the 4th week of class. Thus, a student withdrawing before the 4th week will lose 100% of institutional and state scholarships and grants. For more information about the return of funds, please see the Return of Federal Title IV Funds information below. A student who withdraws from the College before the financial aid is fully earned may incur personal liability for unpaid tuition and other related charges. In addition, full-time students should be aware that a change to part-time status during the semester after the add/drop period will not result in a reduction of the semester’s tuition and fees. Before adding or dropping a course or registering for fewer than 12 credits, full-time students should consult with the Office of Financial Planning to determine the effect on their financial aid awards, and with the Student Accounts Director to determine the effect on their student account balance. Students who received financial assistance for their enrollment period will have their financial aid revised according to federal, institutional, organizational and/or state regulations and/or policies associated with the funding type received. The withdrawal date recorded on the student’s official Loras College record will be determined by the Registrar’s Office using the date the student provided official notification, in writing, of their intent to withdraw from Loras College. An unofficial withdrawal occurs when a student leaves the College without notice. For unofficial withdrawals, the student’s last date of attendance in a class will be used to determine the official withdrawal date.
Housing and Meals Adjustments
Students who move in but withdraw from school on or before the first day of class, will be charged 5% of the cost of housing and meals. Students who are still enrolled but are allowed to move off-campus or drop a meal plan will have charges adjusted on the same percentage basis as is used for students withdrawing from school. If a student terminates a housing contract after taking residence, the student is responsible for buying out the remainder of the contract at 50% of the remaining costs. This does not apply to first-year students. Students leasing houses or apartments will be bound by the terms of their lease, so the refund schedule is not applicable.
Noncredit-Bearing Programs Refund Policy
Students who withdraw from the Certified Financial Planning Certification Education program will receive a full refund up to five days after the first day of the start of the session. Students who drop out on day six of the session or anytime thereafter will receive no refund and will be financially responsible for the full cost of the program.
Students who withdraw from the Cybersecurity Bootcamp will receive a full refund up to two weeks (fourteen days) after the first day of the Bootcamp. Students who drop out on day fifteen of the program or anytime thereafter will receive no refund and will be financially responsible for the full cost of the Bootcamp.
Military Withdrawal and Refund Policy
Students or their spouse, when either has a dependent child, called to active duty during a current academic term will be withdrawn from all or a portion of the student’s registration and will receive a full refund of tuition and mandatory fees the school has assessed for courses from which the student withdrew. The student must make arrangements with the Registrar’s Office for grades or for incomplete grades that will be completed at a later date. For those courses unable to be continued at a later date, students will have no negative academic or financial consequences as a result of this withdrawal. While military students are enrolled at Loras College they are not assessed monthly service charges for delayed VA payments. The Office of Financial Planning will do all it can within the defined limits of Federal Regulations to benefit the student’s financial aid status.
Return of Funds Policy
Financial aid is a pre-payment to a student’s educational costs at the start of a semester. All financial aid is earned by the successful completion of credits and not simply by being enrolled in course credits. Students who plan to withdraw from a term prior to completing course credits should contact the financial aid office to understand the financial impact and responsibilities of withdrawing once a semester has started. The details below explain how aid from different sources is impacted when a student does not successfully complete course credit in which they are enrolled, but a student should still contact the financial aid office for details specific to their situation. Students may purchase tuition insurance to minimize this impact.
Return of State and Institutional Funds Policy
State and institutional financial assistance supports students earning a degree at Loras College. These funds come from Loras College or the State of Iowa. This aid includes merit scholarships, grants, and loans paid to Loras College by a state or institutional loan fund. To earn the state and institutional financial assistance from these sources for an award period, students must remain enrolled at Loras College until the start of the 5th week of class. Students withdrawing prior to the start of the 5th week of class will forfeit all assistance from these sources. In the instance of a medial withdrawal, the college reserves the right to exercise professional judgement as it relates to state and institutional financial assistance.
Notifications about Return of State and Institutional Funds
Notifications about the return of state and institutional funds will be sent to a student’s official Loras College email address and to a student’s personal email address, should they have one on file at the time the notification is sent.
Return of Federal Title IV Funds Policy
Title IV aid is the federal financial assistance program designed to support individuals in meeting the costs associated with earning a degree at an institution of higher education. These funds are regulated by the Department of Education, and a student earns Title IV financial aid in a prorated manner until 60% of the semester is completed. The 60% period begins at the first date of attendance for each payment period. Loras College uses a semester payment period policy.
This Return of Title IV funds policy applies to students with federal aid who withdraw or are dismissed prior to completing 60% of the semester. It also applies to students who earn all failing grades at the end of a term (Payment period). Loras College is required by federal regulation to use a specific refund calculation for each student who received Federal Title IV financial aid funds and is dismissed or withdrew before the end of a payment period(term), as well as for students who earn all failing (F) grades in a payment period (term).
For example, if a student completes 10% of a payment period, then the student earns (or keeps) 10% of the Title IV aid, and Loras College would return the remaining 90% to the Department of Education. If the student withdraws on or before the 60% point of a semester, then a portion of the Federal Title IV funds awarded to a student (Federal Pell Grant, Federal SEOG, Federal TEACH Grant, Iraq and Afghanistan Service Grants, Federal Direct Subsidized/Unsubsidized Loans, or Federal Direct PLUS Loans) would be returned, if required. Returned funds are determined by federal regulations and within 45 days of the official student withdrawal date. Title IV aid is fully applied at the start of the semester and the return of these funds may result in the student owing a balance to Loras College and/or the federal government. Students should consult with the financial aid office before choosing to withdraw from the college prior to the end of a semester. Moreover, student enrollment is determined by active engagement in courses (attending class, taking quizzes, submitting assignments) not simply by being enrolled.
When a student receives failing, incomplete or missing grades for a semester, he/she may be considered to have unofficially withdrawn without proper notification. If a 0.00 GPA is earned at the end of a payment period or semester, the student’s last date of attendance/engagement in a class will be used to determine the official withdrawal date, and that date will be used for any federal aid return. At the end of each payment period, or semester, the registrar notifies the financial aid office of any student who earned all Fs and the student’s last recorded date of attendance. This information is used to determine a student’s unofficial withdrawal date and in turn to calculate the return of Title IV funds.
The required order for the return of Federal Title IV funds to the federal government is as follows:
- Unsubsidized Direct Loans
- Subsidized Direct Loans
- Direct PLUS Loans
- Federal Pell Grants
- Iraq and Afghanistan Service Grants
- Federal Supplemental Education Opportunity Grants (FSEOG)
- TEACH Grant
With regard to the return of Title IV funds, Loras College is responsible for providing Return of Title IV Funds information to students which identifies the students affected by this requirement. It is also responsible for the completion of the return of Title IV Funds calculation for those students and the subsequent return of eligible Title IV funds back to the federal government.
Credits Created from Grants
If a student withdraws, and the date of withdrawal is at a point in the payment period where the student has earned more financial aid from a grant than there are charges to the student account, then this credit will be disbursed within 45 days.
Credits Created from Loans
If a student withdraws, and they qualify for loans, there will be a notification sent to the student’s personal email within 30 days, and the student has 14 days to accept these loans. Loras College will not, by default, apply any loans to a withdrawn student’s account. If a return of Title IV calculation results in a credit balance from any loan funds on the student’s account, Loras College will disburse these funds within 14 days of the return of Title IV funds calculation.
Notifications about Return of Title IV Funds
Notifications about the return of Title IV funds will be sent to a student’s Official Loras College email address and to a student’s personal email address, should they have one on file at the time the notification is sent.
Questions? Contact Us!
Enrollment
Registrar’s Office
(563) 588-7106
Financial Aid
Office of Financial Planning
(563) 588-7136
Student Accounts
Business Office: Student Accounts
(563) 588-7232
Registration Holds
In some cases, a student may have a Business Office Registration Hold based on the following:
- Fall Registration Hold - This hold will take effect when registering in the spring for the coming fall semester. All students must have a balance of $500.00 or less in order to register from one year to the next. If the student’s balance is not below the $500 minimum, ALL registrations will be CANCELLED, including classes, housing, meal plan and any/all other college registrations.
- Spring Registration Hold - For the fall to spring registration, the College does not generally require a fully paid bill; however, if no payments have been made to that date, the student is not current on their payment plan, or a significant outstanding balance exists, the College reserves the right to hold the student’s registration for the upcoming term.
Students who have a delinquent account or are not current on their payment plan (for registered students) may not obtain a transcript or a diploma until the account is paid in full. Also, transcripts will not be issued to a student if the student is in default on loans.
For further information about the tuition, fees and refund policy please contact the Director of Student Accounts in the Business Office.
Insurance
Loras College does not carry insurance on personal property of faculty members, students or workers, and is not responsible for the loss or damage of such property. All students participating in study abroad trips sponsored by Loras College are required to have accident and health insurance coverage, which is normally purchased by the College on behalf of participants.
Protect your school payments
Helping you get the most out of your Loras College experience is always our top priority. That’s why we’ve partnered with GradGuard™ to offer Tuition Insurance.
The Tuition Protection plan is like an extension of our refund policy. It can reimburse up to 100% of your nonrefundable school costs after a midsemester withdrawal for a covered illness, injury, psychological condition, and more protecting your investment in higher education.
Tuition insurance is completely optional. The agreement you enter into is with GradGuard, not with Loras College.
Preview the video below to learn more about GradGuard tuition insurance. https://www.youtube.com/watch?v=F1Dk6LE9QZs
For additional questions or to get a quote on the Tuition Protection Plan, call 1.866.724.4384 or visit GradGuard.com/tuition/loras
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