Refund of Tuition and Fees
Students who officially withdraw from college or drop classes before the first calendar week of a regular term will be refunded all tuition and fees, including first-time enrollment, college services, program, and course fees. Students who withdraw from college or drop classes during the first week of a regular term will be refunded all tuition and fees except the first-time enrollment fee. Students who withdraw from college or drop classes during the second week of a regular term will be refunded fifty percent of tuition as well as fifty percent of program and course fees; neither college services fees nor the first-time enrollment fee will be refunded. Even if a student adds a class in place of the one that is dropped, no fees will be refunded on the dropped class. Students who withdraw from or drop classes after the second week of a regular term will not be refunded any tuition or fees.
Iowa Western partners with a company called Higher One to offer students a college refund card with two choices for financial aid and tuition refund delivery: a Same business day deposit to a checking account, serviced by Higher One, Inc. or a direct deposit to any bank account. All Iowa Western students, except high school students, who are enrolled in 6 or more credits, will receive a Reiver Card in their first semester of enrollment.
The Reiver Card is not a credit card; it is the key for choosing a refund preference. The card isn’t active when students receive it. They must visit www.ReiverCard.com to activate the Reiver Card and select a refund preference. If the student chooses to open a OneAccount, the Reiver Card will serve as his or her debit card. If the student chooses not to open a OneAccount, the Reiver card will not serve as his or debit card; however, it is important that the student retain the card for the duration of his or her enrollment at the College.
Return of Federal Financial Aid Funds
Students who receive Title IV financial aid (Federal Pell Grant, Academic Competitive Grant, Federal Supplemental Educational Opportunity Grant, and Federal Direct loans) are subject to federal return of Title IV funds statutes. These regulations apply to recipients of Title IV financial aid who completely withdraw from college or who stop attending all classes during the enrollment period. The College must determine the amount of Title IV financial aid the student earned and return the unearned aid to the respective federal financial aid programs. Unearned aid will be returned to the federal programs in the following order: Loans (Federal Unsubsidized Loans, Federal Subsidized Loans, and Federal PLUS Loans), Grants (Federal Pell Grant, Academic Competitiveness Grant, and Federal Supplemental Educational Opportunity Grant), and then other Title IV funds. The College must return the funds as soon as possible but must do so no later than 45 days after the College determines the withdrawal date or last date of attendance.
If a student officially withdraws from the college prior to completing 60% of the semester, financial aid awards will be adjusted accordingly and unearned aid will be returned to the appropriate federal financial aid program. If a student officially withdraws from the college after completing 60% or more of the semester, no financial aid adjustment or return of funds is necessary. The percent of the semester completed is based on calendar days from the first day of the semester through the last scheduled day of finals. This includes weekends and mid-semester breaks of less than five days. Students who do not go through the official withdrawal process will be treated as having attended through the midpoint of the semester, unless the last day of attendance can be documented.