Student Financial Responsibility
A student/graduate will not receive a Certificate or Academic Transcript unless all financial obligations have been met in accordance with the terms of the policies in this Catalog and on E.D.P.’s website, and the policies set forth in E.D.P. School’s Enrollment Agreement.
It is important to note that after the calculation of any tuition refund and the corresponding Return to Title IV (R2T4) calculation, a balance due may remain on the student’s account at the School. The student is financially responsible for any such balance, and the School may pursue collections and/or other appropriate legal action.
School Policy Regarding Refunds
Students should read and understand the School’s policy regarding tuition refund and cancellation prior to signing an Enrollment Agreement. If you have any questions regarding the School’s explanation, please ask your admissions agent or another member of the School’s staff before signing your enrollment agreement. You may ask for assistance from the New York State Education Department, Bureau of Proprietary School Supervision, 116 West 32nd. Street, 5th. Floor, New York, New York 10001, or telephone the Department at (212) 643-4760. The failure of a student to immediately notify the School Director in writing of the student’s intent to withdraw may delay refund of tuition due to the student pursuant to section 5002(3) of the Education Law.
Return to Title IV Policy
If a financial aid recipient withdraws from enrollment at EDP, or has their enrollment terminated for administrative, disciplinary, attendance, or other reasons prior to course completion, a calculation for Return of Title IV funds (R2T4) will be completed and any required returns by the School shall be paid promptly to the Federal Student Aid Programs.
After all applicable returns to the Federal Student Aid Programs by the School have been calculated, the School will determine any amount owed to the Federal Student Aid Programs by the Student. In the unlikely event that a student has received excess Pell Grant, IASG and/or SEOG funds, he/she may be required to refund the unearned portion of the aid to the U.S Department of Education.
In general, a student will keep only the pro-rated portion of student aid “earned” through attendance in the first sixty percent of the enrollment period. Upon completion of the first sixty percent of the enrollment period, all of a student’s financial aid is considered “earned” and no return of funds is necessary. The school will calculate the amount of aid earned/retained using the following method:
- Step One: Determine the percentage of the payment period the student attended before withdrawing.
- Step Two: Determine the amount of Title IV aid earned by multiplying the total Title IV aid for which the student qualified by the percentage of time enrolled.
- Step Three: Compare the amount earned to the amount disbursed. If less aid was disbursed than was earned, the student may receive a late disbursement for the difference. If more aid was disbursed than was earned, determine the amount of Title IV aid that must be returned (i.e., that was unearned) by subtracting the earned amount from the amount actually disbursed.
- Step Four: Allocate the responsibility for returning unearned aid between the school and the student according to the portion of disbursed aid that could have been used to cover institutional charges and the portion that could have been disbursed directly to the student once institutional charges were covered (as defined by federal regulation).
- Step Five: Distribute the unearned aid back to the Title IV programs.
Detailed information on the Return of Title IV Funds may be obtained from the Financial Aid Office.