Financial Policies

 




Payment Policies

After registration and payment of the registration fee, students must pay 50% of the quarterly tuition and fees prior to the beginning of the term. The remaining 50% of the quarterly tuition and fees must be paid during the grace period ending on Wednesday of the 2nd week of the quarter (last day to Add and Drop). Late payment of the remaining 50% of quarterly tuition and fees is subject to additional charges.
These payment policies will not be applicable to students who receive funds through federal and state student financial aid grant and loans programs, or through any other federal or state programs.

 

Financial Aid

FINANCIAL AID is to assist students in paying for educational costs through a variety of aid programs funded by federal and university sources. Financial aid is in the form of scholarships, Pell Grants, Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work Study (FWS) and Federal Direct Loans.

SCHOLARSHIPS are awarded on the basis of academic excellence and talent. Scholarships do not have to be repaid.

PELL GRANT is federally funded program and does not have to be repaid. It is available to undergraduate students who demonstrate financial need.

Federal Supplemental Educational Opportunity Grant (FSEOG) is federally funded program and does not have to be repaid. This program is for Pell Grant recipients and is based on financial need and the availability of funding.

Federal Work Study (FWS) is federally and institutionally funded. FWS is designed to provide students with financial support to pay the costs of education at the University. Students are compensated via regularly scheduled paychecks. The Financial Aid Office coordinates all on and off campus student employment under the Federal Work Study program. Applications are accepted on an ongoing basis.

FEDERAL DIRECT LOANS are borrowed money that must be repaid, with interest. Student loans do not require repayment until the student is no longer enrolled in school at least half-time. Subsidized Loans are awarded based on demonstrated financial need. The federal government pays the interest while the student is in school and during grace period and deferment period. Unsubsidized Loans are for all eligible students. The student is responsible for paying all the interest on the loan and can allow it to accumulate while in school and during the grace and deferment period.

The student will have the responsibility to repay the full amount of the loan plus interest, less the amount of any refund, and if federal student financial aid funds have been received, the student is entitled to a refund of the monies not paid from federal student financial aid program funds.

VETERAN’S ADMINISTRATION OF EDUCATIONAL BENEFITS
The University’s programs are approved for the training of veterans and eligible individuals under U.S. Code Title 38. Any honorably discharged veterans of the US armed forces are eligible to receive educational benefits.

STUDENT ELIGIBILITY FOR FINANCIAL AID to receive aid from the programs discussed in this catalog, the applicants must have:
• Demonstrate financial need.
• Be a US Citizen or Permanent resident.
• Have a valid Social Security Number.
• Maintain satisfactory academic progress.
• Be enrolled as a regular student.
• Not be in default on any educational loan or owe a refund on a federal grant made under Title IV Program.
• Register with the Selective Service which is applicable to male student only.
• Have a high school diploma or a General Education Development (GED) certificate, or pass an independently administered test approved by the US Department of Education, or meet other standards the State of California establishes that are approved by the Department.

DEFERMENT OF TUITION
The University may grant tuition deferments for students who fall into one of the following categories:
1. Recipients of Financial Aid.
2. VA benefits directly payable to the University.
3. State rehabilitation benefits directly payable to the University.
In the event that consumer loans become available for students, the University shall comply with the requirements of the Federal Truth in Lending Act pursuant to Title 15 of the United States Code.

For detailed financial aid inform, please see the financial aid section.

  

Student’s Right to Cancel

The student has the right to cancel the enrollment agreement for a program of instruction, without any penalty or obligations, through attendance at the first class session, or the seventh day after enrollment, whichever is later.

Cancellation may occur when the student provides a written notice of cancellation at the following address: South Baylo University, 1126 North Brookhurst St., Anaheim, CA 92801. This can be done by mail or by hand delivery.

The written notice, if sent by mail, is effective when deposited in the mail properly addressed with proper postage. The written notice of cancellation need not take any particular form and, however expressed, is effective if it shows that the student no longer wishes to be bound by the Enrollment Agreement.

If the student has received federal student financial aid funds, the student is entitled to a refund of moneys not paid from federal student financial aid programs. The School will refund any money that the student paid within fifteen (15) working days after the school receives the notice of cancellation


Refund Policy

The student has the right to withdraw from a course of instruction at any time after the cancellation period (described above) and receive a pro rata refund for the current term if the student has completed less than 60 percent of the scheduled class days through the last day of attendance in that term. The refund will be the amount of tuition paid multiplied by a fraction, with the numerator as the number of class hours the student has not attended but paid for, and the denominator as the total number of class hours for which the student has paid. The refund does not apply to fees identified “non-refundable”, and it will be issued within ten (10) working days of withdrawal.

For the purpose of determining a refund under this section, a student shall be deemed to have withdrawn from the course when any of the following occurs:

  1. The student notifies the school of the student’s withdrawal or the actual date of withdrawal, whichever is later.
  2. The school terminates the student’s enrollment for failure to maintain satisfactory progress, failure to abide by the rules and regulations of the school, unexcused absences in excess of maximum set forth by the school, and/or failure to meet financial obligations to the school.
  3. The student has failed to attend class for three (3) consecutive weeks.
  4. The student fails to return from a leave of absence.

For the purpose of determining the amount of the refund, the date of the student’s withdrawal shall be deemed the last date recorded attendance. The amount owed equals the daily charge for the program (total institutional charge, minus non-refundable fees, divided by the number of days in the program), multiplied by the number of days scheduled to attend, prior to withdrawal. If the student has completed more than 60% of the period of attendance for which the student was charged, the tuition is considered earned and the student will receive no refund.

For the purpose of determining when the refund must be paid, the date of the institution’s determination that the student withdrew should be no later than 14 days after the student’s last day of attendance, as determined from the school’s attendance records.

If any portion of the tuition was paid from the proceeds of a loan or third party, the refund shall be sent to the lender, third party or, if appropriate, to the state or federal agency that guaranteed or reinsured the loan. Any amount of the refund in excess of the unpaid balance of the loan shall be first used to repay any student financial aid programs from which the student received benefits, in proportion to the amount of the benefits received, and any remaining amount shall be paid to the student.

If the student has received federal student financial aid funds, the student is entitled to a refund of moneys not paid from federal student financial aid programs. The School will refund any money that the student paid within fifteen (15) working days after the school receives the notice of cancellation

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Penalty for Late Payment

A penalty shall be assessed for all payments of tuition and fees received after the grace period ending on  Wednesday of the 2nd week of the quarter. Failure to pay all debts to SBU prior to the close of a quarter shall result in a delinquent account unless an authorized deferment is issued by the Academic Dean or Finance Officer. A student will not be allowed to register for a subsequent quarter if the student has not paid for tuition and fees for the previous quarter. Any student who has a delinquent account shall have all student records encumbered until the account is cleared.

A penalty for late payment of the 50% quarterly tuition and fees will be assessed according to the following schedule:

WEEK OF QUARTER
% OF UNPAID BALANCE
Up to the 3rd day of the
2nd Week (Grace Period)
No Penalty
Thereafter
10%

Any late tuition and fees payment outside of Regulations 4306.00 R and 4307.00 R shall carry a 10% penalty charge of the outstanding amount and also an interest charge of 5% annual simple interest rate.

Continuation of education after payment on late tuition and fees, and penalty may be subjected to obtain written permission from the Academic Dean and Finance Officer

 

 

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