CHAPTER FIVE

FINANCIAL AND HOUSING INFORMATION          5

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CURRENT FINANCIAL INFORMATION

This section of the catalog addresses costs, housing, refunds, and financial aid.  The information here is subject to change.  Every possible cost is not listed here, but the most common ones are.  The latest information on Scholarships and Financial Aid is on the financial aid page of the JBC web site to be found at http://www.jbc.edu.

STUDENT ACCOUNTS

An account is established for each student who is enrolled at JBC.  The account statement shows all charges and credits (monies paid). Students receive a monthly statement indicating the status of their account as of the date of the statement. Questions about student accounts should be directed to the Secretary of Student Accounts.

A deferred payment plan is available for those who are unable to make full payment at the time of registration. This plan requires a minimum cash payment of one-third of the total bill by the time of registration and the remainder in three monthly installments.

TUITION, FEES, AND COSTS

General/technology Fee.  Students are charged a general/technology fee for each of the fall and spring semesters.

Graduation and Binding Fees.  A graduation fee and a binding fee are to be paid at the beginning of the semester preceding graduation. They will be used to cover the cost of diploma, cap and gown, and other expenses associated with graduation and binding the copies of the student’s Action Research Project.  This fee is non-refundable.

Tuition.  Tuition is charged by the credit hour.  Each credit hour costs $150, so a three credit course is $450.  As of August 2006 there will be a rise in tuition to $175 per credit hour or $525 per three credit course.

HOUSING COSTS AND ASSIGNMENTS

Housing.  Applications for housing during the graduate program are made through the Director of Campus Housing.  Students should contact this office with their preferences and requirements.                                                                                          TOP

REFUNDS

Textbook Refund Policy.  If a student officially drops or withdraws from a class for which he/she purchased books, the bookstore will offer a refund or exchange.  A full refund cannot be made on a book in which a student has written. To be considered for a full credit refund, textbooks must be returned within five days from the beginning of each summer session or within two weeks of the start of regular semesters.

Withdrawal Refund; Repayment Policy:

Refund Policy.  “Refund” refers to money paid toward school charges that must be returned to the financial aid sources and/or the student.  In accordance with Title IV regulations (668.22), the Johnson Bible College Refund and Repayment Policy is as follows:

For non-Title IV recipients, the institutional policy will be applied. Because there is not an established policy from the State of Tennessee and/or from the Southern Association of Colleges and Schools, Johnson Bible College abides by the Federal Title IV Regulations for refunds and repayments for Title IV recipients. 

Repayment Policy. When a student who has been awarded Title IV funds (or on whose behalf a parent has borrowed under the Title IV loan program) ceases to attend on or after the first day of class, but before the end of the enrollment period for which the student was charged, the withdrawal date (as defined by Federal Regulations) will be determined.  The withdrawal date will be used to determine if a refund is required.

When a student receives a cash disbursement based on a credit balance on the student account after financial aid has been credited, and withdraws on or after the first day of class but before the end of the period of enrollment for which the student received the financial aid, it will be determined if a payment will be required from the student.  A repayment may be due if the student has received a cash disbursement to cover books and supplies, transportation, and other non-institutional expenses.  After the repayment calculation is completed, the student is informed if a repayment is due.                                                                        TOP

Allocation of Return of Title IV Aid.

·         Refunds will be made in the federally required order of

 

1.   Unsubsidized Federal Stafford Loan;

2.   Subsidized Federal Stafford Loan;

3.   Federal PLUS loan received on behalf of the student;

4.   Federal Pell Grant;

5.   Federal Supplemental Educational Opportunity Grant;

6.   Any other Title IV Federal Program;

7. The student

·         The refund is allocated up to the full amount the student received from a particular fund.

·         If a refund is due to a lender, the office of student accounts will prepare a check to be returned to the lender for the full amount of the refund, indicating which loans should be credited.

·         If a refund is due to the student, the office of student accounts will inform the student and prepare a check to be returned to the student for the full amount of the refund.

·         If other charges and/or fines are applied to the student’s account after a refund is determined, the student will be responsible for those charges and/or fines.

·         Once the appropriated refund amount has been determined, the refund will be allocated in the federally required order.  Johnson Bible College will distribute or return the funds within the 30-day requirement.

Examples of Refunds/Repayments.

Examples of refund and repayment worksheets are available in the Financial Aid Office.

Students who arrive at JBC and leave prior to the beginning of classes will be refunded their money.                                            TOP

FINANCIAL AID